Wednesday Morning Market Analysis

The market has been mostly volatile over the past couple of days. The support for Bitcoin is quite strong; as long as there's no crash, the trend is upward.

Although Ethereum has dipped a little, from various indicators, it is not likely to break down.

In this kind of market, we can go long and set a wider stop-loss.

Trading contracts is inherently a test of one’s mindset. The overall direction is still upward, so we shouldn’t be afraid; we just need to wait a bit longer, but it will eventually come.

Let me talk about my trading situation. First, confirm the direction before entering a position.

After entering a position, set a wider stop-loss. If it's an overnight position, then adjust the take-profit level and don’t constantly watch the market, especially don’t fixate on the position itself. Otherwise, seeing losses can be quite disheartening. Friends who can’t hold onto their positions often close them immediately after a small profit, which means they can’t make money.

Why can I turn a position of a few hundred USD into several thousand USD? It's because I can hold onto my positions and maintain a calm mindset. In contract trading, if your mindset is off, you’ve already lost half the battle.

I’m still holding onto yesterday's position, which is currently at a loss. As long as it doesn’t break my stop-loss point, I will hold onto it. I won’t give another strategy today; let’s see how yesterday’s position performs first.

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