🔥Newbies who read this article can at least avoid several years of detours.
If you have been losing money in contracts and want to turn your losses into profits, please read the six points below carefully. Strictly implement them, and profits will not be far from you.
1. Learn to take profits and cut losses
The market is always changing; taking profits and cutting losses is a lifeline.
Taking profits is essentially about controlling greed. No coin will always rise; the profits in hand are real.
Don't always regret selling too early; there is no end to making money in the crypto world, but your principal can be lost completely.
Cutting losses means giving up sunk costs. If you're wrong, admit it; don't fantasize that holding on will reverse the situation.
Amputating to survive is painful, but it allows you to live.
2. Do not operate frequently
Always wanting to eat both long and short? Be more clear-headed; being able to accurately predict one side is already difficult.
Frequent trading not only consumes energy but also eats into profits with transaction fees—opening high-leverage contracts can result in a loss of 1% to 2%; if this trade doesn't make a profit, it’s equivalent to working for nothing.
3. Learn to stay in cash
If you don’t understand the market, forcing a trade is equivalent to gambling.
Is missing out uncomfortable, or is losing money uncomfortable? There will always be market opportunities; you don’t need to participate in every wave. Staying in cash is not missing out; it’s protecting yourself.
4. Progress step by step
Don’t think about getting rich overnight.
Using 100U to open a 10x position, a 1% rise is 10U, enough for a breakfast. Steady two to three trades daily, maintaining a win rate of 60% to 70%, is already more comfortable than working. The crypto world is a long-term battle; slow is fast.
5. Never go all in
One mistake with a large position can lead to zero.
Unexpected news, sudden drops, sharp turns... the market never lacks surprises. Enter with a light position, enforce strict stop losses; there are plenty of opportunities in crypto, but few players can survive long-term.
6. Unity of knowledge and action
This is the hardest part, and I am also continuously refining it.
I used to be a novice too, blindly opening trades and trading without a plan. Only later did I understand: the crypto world can change your fate, but the premise is—
You have a mindset that surpasses most people, the courage to execute, the discipline to cut losses decisively, and the determination to survive against the odds.
There are many smart people on this path, but those who can survive are always those who make fewer mistakes and adhere to discipline.
If you are willing to move steadily, I am willing to accompany you on this journey.
