Brothers, I’m an old hand in the crypto world for many years. Today, I won’t talk about the market, just want to share my heartfelt thoughts about contracts. I’ve stepped into countless pits, blown up accounts, and made profits, but I can’t help but feel the urge to shout when I see so many newcomers blindly messing around as soon as they enter the field. Don’t find me verbose; these insights can help you avoid years of detours.
Take profits when you can, and run quickly when you incur losses.
The market changes faster than flipping a book, and greed is the biggest enemy. Don’t always think about ‘it can go higher’ after making a profit; set a goal and withdraw. If you incur a loss, don’t hold on stubbornly; cutting losses in time to protect your capital is the right thing to do. Remember, money can never be fully earned, but the account can be wiped clean.
Don't get itchy fingers; reduce operations.
Frequent trading is simply paying fees to the platform. With high leverage, just the spread might eat away several points, and after all the effort, you realize it was all in vain. Each trade must be made with confidence; it's better to miss an opportunity than to make a mistake.
If you don't understand, just take a break.
When the market is chaotic, having no position requires more courage than holding a position. I've seen too many people stubbornly dive in, only to get slapped back and forth. The market won't close; there are plenty of opportunities, and it's not too late to act when you see clearly.
Take your time; wealth does not come through haste.
Investing is a marathon; don’t always dream of getting rich overnight. Start small, practice with low leverage, and let profits accumulate little by little for a solid foundation. Rushing in all at once often leads to the quickest demise.
High leverage is poison.
Opening trades with dozens or even hundreds of times leverage is not investing; it's gambling. If the direction reverses, it can go to zero in an instant, and you won't have time to cry. Be rational; staying alive is more important than anything.
Unity of knowledge and action is the hardest, but it must be practiced.
Everyone understands the reasoning, but how many can actually implement it? I still often get confused, and I can only rely on constantly reviewing to force myself to stay calm. Embed the strategy into your bones; don't let emotions lead you around by the nose.
Looking back when I first entered the scene, I was also a naïve rookie, blindly operating based on feelings, losing so much that my mom wouldn’t recognize me. But now I understand, the crypto world has opportunities, but also risks; to survive, you must follow the rules. I hope these words can serve as a reminder to you to minimize your tuition fees. A single tree cannot make a forest; learn and observe more, and rational progress is the way to go.
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