Cryptocurrency contract trading secrets: Five rules for turning losses into profits

1. Remember the price of greed: Stop profit does not mean missing out on subsequent profits, but locking in the profits you have already made and preventing market corrections. The rise and fall of currency prices have cycles, so don't be too greedy. You must know that "you can't make all the money in the cryptocurrency circle, but you can lose all the money in your account."

2. Be brave to admit and correct mistakes: Stop loss is a sacrifice of sunk costs, and it is also an effective control of risks. In the face of a loss order, don't fantasize about a market reversal, you should decisively "cut off your arm to survive", and remember "stand up straight when you are beaten, and stop loss to protect your principal."

3. Leave enough room for error: When opening an order, ensure enough volatility error points to avoid being forced to leave the market early due to excessive short-term fluctuations, and miss the benefits brought by the right direction.

Avoid the trap of high-frequency trading

4. In the face of unclear market conditions, choose to wait and see with empty positions: Instead of blindly opening orders and falling into gambling-style transactions, it is better to wait patiently for clear trading signals to appear. Remember, "It's a pity to miss the opportunity, but it's far better than the pain of loss."

5. Be patient and refuse to get rich overnight: In the cryptocurrency circle, wealth growth should follow the principle of gradual progress. Use moderate leverage (such as 10 times) to gradually accumulate profits with a small amount of principal, such as earning breakfast money through three or four orders every trading day. Its stability and profitability far exceed the hourly wager of working in a factory.

6. Pay attention to the balance between winning rate and risk control: pursue a stable winning rate (such as 60%~70%), while strictly controlling the risk of each transaction to ensure the possibility of long-term profit.

Subheading 5: Reason first, stay away from high-multiples

7. High-multiples in the cryptocurrency circle are difficult to control risks: Sudden market news may cause the market to reverse instantly. High-multiple orders without stop loss are like walking on a tightrope. Once you slip, the consequences will be disastrous.

8. Enable the contract cooling-off period to prevent impulsive trading: After encountering a liquidation, emotions are easily out of control. At this time, the contract cooling-off period should be activated immediately to avoid making decisions in an unbalanced state of mind. Remember, "Opportunities in the cryptocurrency circle are always there, and calmness can win."

9. Don’t worry about missing out on a market trend by starting a cool-off period, because opportunities in the cryptocurrency market are endless and will continue to exist in the next 10 to 20 years. Look at each transaction rationally and aim for long-term stable profits.

As long as you remember these points and learn to control yourself, you can continue to survive!