The road to trading is actually a journey of tempering. Every cryptocurrency trader has a deep understanding of this, starting from scratch and taking every step carefully.
In the journey of trading, there are a few key points to keep in mind:
1. Be brave to explore and move forward steadily: The accumulation of wealth requires time and patience, and it is often unrealistic to fantasize about getting rich overnight. The first principle is to protect the principal. It is recommended that the initial opening position should not exceed 30%-40% of the total funds to avoid full-position risk. Remember, one careless move may swallow up all past efforts. Therefore, it is safer to control the position reasonably and keep the leverage in the range of 5-10 times.
2. Set up stop-profit and stop-loss, and discipline is king: For each transaction, stop-loss setting is indispensable. It is a line of defense to prevent losses from getting out of control. Refuse to blindly carry orders, which is the starting point of increased risks.
3. Emotional control, rationality first: There is no invincible general in the market, and losses are the norm. In the face of failure, stay calm and avoid being driven by emotions to make impulsive decisions, such as blindly doubling bets in order to get back the original investment. This "gambler mentality" often increases risks and the gains do not outweigh the losses. Learn to learn from failures and maintain rational judgment.
Building and adhering to your own trading strategy system, which is concise and efficient, is more important than blindly pursuing multiple techniques. At the same time, good emotional management and self-control are the cornerstones of successful trading.
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