I will never trade contracts again! This is the most common saying among gamblers in the crypto world.
I lost 2000 USD last night. Now, if you don’t trade contracts, there’s no way to “get rich.” Trading contracts at 100x, 50x, dozens of U, or hundreds of U might still be possible, but making consistent profits at over 10,000 U with 100x is impossible. Just think about it; you wouldn't be able to afford that number. Do you know how much margin you need? I believe there aren’t that many fools in this world, so stop asking if there’s a way to make a million overnight. When trading contracts, it’s generally sustained at 5 to 20 times. It took about two months to grow 200 U to 10,000 U. I don’t know if this market trend will continue after this wave. My strategy is to find out which coins are being hyped through social media, then watch the market and the volume from the whales. By timing the trades, I estimate that around 11 or 12 PM and 2 or 3 AM, the trading volume is usually high. Then, when I see a long-term bullish trend, I set positions when there’s a sharp drop. For instance, if you have 100 USD, the margin is 100, and the position is 20 USD, opening a 20x leverage. Each point generally lasts from 1 to 4 hours. If it keeps dropping, I continue to hold the position, and when social media volume drops, I know it’s about to fall. It’s a very simple theory. You can use plugins to see social media traffic data. This strategy can easily lead to blind following because you trust yourself too much, so staying calm is key. During a continuous drop, I might risk dozens of dollars using 100x leverage to adjust. Previously, I was playing with 100x positions for 5 or 10 minutes, but later I got scared because continuous earnings can make you overconfident, and every now and then, you can get wiped out in 5 minutes. Newbies should stay away from the crypto world; those days of buying altcoins and getting hundreds of times returns are long gone. When you hear about making a million from 1000 USD, it’s basically a scam. In my years of playing, besides making contracts during bull markets and a few miners from Sichuan and Harbin, hardly anyone has made big money. Most who made money were earlier players with faith, believing that one Bitcoin would be worth 10 million someday. Now, there are still many holding around a hundred coins. Back in 2017, I laughed at them being foolish; they just bought coins when they had money. Currently, those trading contracts are mostly professional players or experienced individuals who can only make some money when the market is good, lucky, and on a reliable platform. I still want to knife the Huobi boss who pulled the rug on Dogecoin overnight. If you really want to enter the industry, start by following trades, then slowly get into it. And don’t forget to “pick coins” on Twitter. You won’t know how cruel it is unless you’ve experienced two bear markets. All kinds of whales and platforms are incredibly disgusting; I still can’t understand how “pulling the rug” is something humans can do. For 1000 USD, play contracts at 10 or 20 times, setting the margin at around 11% or 12.5% for stop loss. Newbies should not exceed this amount. If you earn more than 100 USD, withdraw it, and then continue playing. When the money comes out, that’s real money. Control your mindset; this way, you’ll feel pain when you deposit next time, and start thinking. Don’t recklessly throw in 100, 100 USD; if you make 1000 USD and can’t let go, after a few rounds, you’ll be ruined. Trading contracts is all about mindset. If you have more money, reduce your position; don’t jump in at 100x... that’s for professional players.