#新手小白 I hope all the seniors take a look as they pass by, just to support the past version of myself. By accident, through AI connections, I entered the cryptocurrency world, which I had never encountered before. Seniors in the crypto space, do you have any advice?
My situation:
1. I am very cautious by nature and plan to first try a simulated trading account for a month before deciding on the amount to invest. Also, I will not make a second deposit within a year. If I lose it all, then so be it; I absolutely will not reinvest to chase losses.
2. I started operating the simulated trading account last Wednesday. To understand the situation, I have been using 5-10x leverage on contracts to enhance volatility.
3. I mainly try ultra-short-term trading to understand the operational logic. I take a small profit and leave; I absolutely do not get greedy. Generally, I set a profit target of 10%-20% before exiting.
4. I almost never set stop losses; I prefer to wait for a rebound. However, I will not expect rebound profits when the situation is unclear; I usually set an exit with a loss of within 10%.
5. Currently, for four days, every operation has ended in profit, with the highest single position profit at 86%.
6. Yesterday, I ended up flat, with a total profit of over 110%, but I couldn't control my impulses before sleeping. I shorted ECT with 10x leverage without any understanding, just on a whim, and I am currently stuck with a loss of over 30%. Waiting for a rebound, I have set a 10% loss to exit.