Having been in the cryptocurrency circle for almost ten years, the first two years were basically a harsh education from contracts.
Those scenes, most people have experienced:
Just after replenishing the margin, turning to do something else, and when you come back, your position is already cleared.
Later, I realized that the problem was never about how fierce the market was, but that I was too anxious and too greedy, always thinking "this trade is definitely going to double."
Now I can't claim to be a master, but at least I haven't blown up a position for a long time. For the brothers who just entered the circle, here are a few pieces of life-saving advice.
First, you have to acknowledge when you're trapped.
Once you're trapped, don't think about adding to your position waiting for a rebound. More often than not, this will only make you sink deeper. Adding to your position is to control risk, not to gamble on doubling your money. Once you start thinking about making a fortune, the situation is already out of control.
Second, the quieter the market, the more you need to be careful.
A sideways consolidation after a big rise is often not strong but is brewing a pullback. A rise must be followed by a pullback; this is the norm. When everyone starts flaunting their profits, you should consider taking a step back.
Third, position is life.
Being fully positioned means leaving no escape route for yourself; once you make a wrong judgment, it basically means you're out. An appropriate position can give you room for error.
Fourth, what matters in the end is your mindset.
Here, it's not about whose skills are fancier, but who can better control human nature. If you make money, stay grounded; if you lose money, stay calm; only then can you stay in the market and go further.
Slow down, make fewer mistakes, and the money will stay;
