Dear friends in the cryptocurrency circle, today I will summarize my 10 years of experience in the circle and the pitfalls I have encountered in those years. I guarantee that it is full of useful information and you will definitely benefit from it for life after reading it!

First of all, when it comes to cryptocurrency trading, you need to plan your funds reasonably and keep some surplus on hand, so that you can feel at ease and not be scared by temporary fluctuations.

Then, don't make orders emotionally. Don't be blinded by profits. It's a taboo to place orders blindly. You have to develop a good trading plan and follow the market, not against it.

Speaking of trading plans, I have to mention that large positions should follow the trend, and small positions can be used for swing trading. You have to control the proportion. If you trade against the market, stop loss with a light position and leave quickly. If you trade with the trend and increase the bet, you have to hold on. Remember, there is no unprofitable cryptocurrency trading, only unprofitable operations. Cryptocurrency trading is actually a test of your mentality!

Let me talk about myself. Over the years, I have made money and lost money. In summary, one of the main reasons for the loss is leverage. Leverage is like a double-edged sword. If you use it well, you can run faster than others; if you use it poorly, you will die faster than others. So, when you use leverage, you must be careful!

Also, after playing with contracts for a long time, you will find that spot trading is actually quite simple. Many novices always think that they can make huge profits in one transaction, from 10,000 to 1 million, 100 times, but what is the result? From 1 million to 500,000, a loss of 50%. So, novices, don't be self-indulgent and think you are a genius after making a few profits. It's not okay to do it with a full position!

Traders who can really survive in the cryptocurrency market will never put themselves in a desperate situation. From the moment they are fully invested or heavily invested, they are destined to be losers. Therefore, everyone must be sufficiently vigilant in leveraged trading!

When the market is uncertain, veteran players will choose to wait and see with empty positions, and will not rush to operate. But what about many ordinary retail investors? Frequent operations, heavy operations when the market is uncertain, so you will continue to lose money. So, everyone, when the market is uncertain, you must learn to wait and be patient!

Also, many people think that they lose money in futures trading because the trading cycle is too long, and that short-term trading is fine. But in fact, when the loss reaches a point where it is obviously against the market and needs to stop loss, there is always a psychological struggle. So, everyone, you must learn how to stop loss!

Finally, I want to say that trading in the cryptocurrency market is like driving a car on the road. You have to learn how to drive first. If you can drive, but you don’t follow the traffic regulations, you will have an accident sooner or later. So, everyone, when trading in cryptocurrencies, you must abide by those "trading rules and regulations"!

For example, it is right to follow the trend, and it is wrong to go against the market; it is right to hold a light position, and it is wrong to hold a heavy position; it is right to be content, and it is wrong to be greedy; it is right to stop loss to protect profit, and it is wrong to let things go... So, everyone, you must remember these!

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