In the crypto world for almost ten years, I was heavily educated by contracts in the first two years. $BEAT
Many people have experienced this kind of scene: just topped up the margin, turned around to do something else, and when you come back, the position is already cleared.
Later I realized that the problem was never how fierce the market was, but that I was too impatient and too greedy, always thinking "this trade is definitely going to turn around".
I can't say I'm a master now, but at least I haven't blown up my account in a long time. To my brothers who just entered the circle, here are a few pieces of advice that can really save your life.
First, acknowledge when you're trapped.
Once trapped, thinking about adding to your position to wait for a rebound will often only lead to deeper losses. Adding to your position is for controlling risk, not for doubling your bets; once you're aiming for huge profits, the situation is already out of control.
Second, be more cautious in a quiet market.
A consolidation pattern after a big surge is often not strong but is brewing a pullback. It's normal for a rise to be followed by a pullback; when people around you start flaunting their profits, you should consider taking profits.
Third, position size is life.
Being fully invested means leaving no way out for yourself, with no margin for error; one wrong judgment can lead to immediate exit.
Fourth, in the end, it's about mentality.
What matters here is not who has the flashy skills, but who can control human nature. If you make money, don't get carried away; if you lose money, don't panic; only then can you stay in the market.
Take it slow, make fewer mistakes, and your money will stay;
move steadily, and you'll go far.