High prices have always been bearish. To speak frankly, I didn't make money during this downturn because it happened too quickly! But as long as the green mountains remain, there's no fear of not having firewood! Not losing is already good! $BTC $ETH Regarding contracts, over these eight years, I have given a lot of advice, but very few are truly willing to listen! First, positions must be controllable; second, leverage should not be too high; third, never hold on stubbornly! Because there will always be unexpected situations, this is the charm of the cryptocurrency market, and it's also the risk of the cryptocurrency market!
Friends, both ETH and OKB short positions have made a profit, I'm feeling great today. The Ethereum position was closed yesterday and I reopened it, while OKB once had an unrealized loss of 70%, but I held on.
Additionally, advice from an eight-year veteran: unless you are a top expert, it is not recommended to have large positions in contracts!
Players who trade in small waves easily die in large waves. Waiting for significant price fluctuations requires patience; don't rush.
Having delved into the cryptocurrency market for eight years, I welcome you to follow and communicate. Although I haven't made a lot, like tens of millions or billions, I have what I need.
A very deadly habit in contract trading - unbalanced take profit and stop loss!
This is not easy to overcome and requires a strong mindset. Most people are reluctant to stop losses when they are in the red and prefer to keep adding margin, which can be very dangerous in extreme market conditions.
As for taking profit too early after making the right move, they feel relieved. Over time, this will inevitably lead to losses.
In contract trading, it is essential to be rational, make a plan in advance, clearly define take profit and stop loss levels, and execute decisively.
I have been in the cryptocurrency space for 8 years, feel free to follow and communicate. Currently holding a short position on Ethereum.
ETH, if you're going to drop, drop a little more. It's been two days and my short position's yield hasn't changed much, just fluctuating around 20%, which makes it hard to get motivated to act.
I previously made over $40,000 on contracts. Is anyone interested in hearing about that experience?
If so, I can share it later. Talking too much just brings tears!
A friend complained that my short position last night only had a leverage of 5 times, and that my leverage was too small!
I can only say that my friend is still young; the number of times you open a position should depend on the market conditions. I once lost more than $40,000 in one night when I opened a long position with more than 20 times leverage, just betting on a rebound.
As a result, I was precisely hit (it might have been my own imagination, but at that time, it did hit my position and then quickly surged), and one needle disappeared directly!
During that time, I also had profits, but I chose to stubbornly hold on, and in the end, I was liquidated.
This amount of money is not much, but it gave me enough lessons.
As for last night's short position, there is currently about 20% profit; I closed half, with the opening position at 4700+.
Take a look, I've been playing for seven or eight years, and while I can't guarantee you'll make money, I can share some experiences to help you lose less.
The cryptocurrency world is very restless, most people prefer to do short-term trading and high-frequency trading!
I take pride in low-frequency trading and medium to long-term strategies! Because of this, very few people follow me, even after seven or eight years of experience, no one listens, I started telling people to pick up chips in April.
I also do not recommend coins, nor do I manage trades, I simply share this way, and I welcome more attention and communication, I will continue to update more.
Although I have successfully accumulated ETH, there is nothing to brag about! Because it only dropped a little bit.
The price of Ethereum is still very encouraging, and many people are saying it has plummeted, which is quite funny; this small drop means nothing.
As long as you have been in the game long enough like I have, seen enough bull and bear markets, you will realize that trading contracts also requires sufficient patience; if there are no opportunities, don’t open a position.
I believe the more valuable information I have is ahead.
In April, I advised people to hold onto their chips, and recently I advised against getting in, which will definitely miss out on some gains, but steadily making profits is the way to go.
I just realized this small account has been registered on Binance for 7.8 years!
How long has everyone else been in the crypto space?
Having gone through the 94 incident and the 312 event, I view everything quite lightly, but there are also many regrets. At certain times, being a believer earns more than blindly trading!
So many people are trading altcoins, merely wanting quick profits and to become rich overnight, but I want to say, back in 2011, Bitcoin was 1 RMB, and in 2017, it was several thousand!
Some people say that the opportunities for major coins are becoming fewer, but who can say for sure?