The teaching secrets of making a million from ten thousand in this bull market
As an old player in the cryptocurrency world, I have unknowingly traded for 6 years. It is truly not easy to survive in the cryptocurrency market until now!
From entering the cryptocurrency world to earning 10 million, then to being in debt of 8 million, and then to profiting 20 million, I mainly mastered contract trading skills.
I would like to share a summary of my trading experience over the years, hoping it can help everyone.
1. Total position setting: The funds I use for contract trading are always fixed, for example, the funds of one account are always 300U. This means my maximum loss is 300U, and once the market trend is favorable, I have the opportunity to earn tens of thousands of U. This setting allows me to maintain controllable risks while seizing the profit opportunities brought by significant market movements.
2. Initial amount: The initial trading amount I use is always very low, based on the philosophy of stock market master Livermore. He believed that if you are right from the beginning, it is best to start making money right away. Therefore, I always start with a small amount, even if the total position is 300U; the initial amount is often just single or double digits U, ensuring that I am in a profitable state at the beginning of the trade.
3. Position increase strategy: I only use profits to increase my position when there is profit and a clear trend. This strategy allows me to further amplify profits when the market trend is favorable while avoiding increasing risks in an unfavorable market environment.
4. Stop-loss setting: I adjust the stop-loss position in a timely manner according to market conditions to ensure I do not lose my principal. This is an important principle I adhere to in trading, helping me remain calm during market fluctuations and avoid emotional trading decisions.
These four rules have unconsciously made me strictly adhere to trading discipline. Of course, before starting, I still want to remind novice players: contract trading is a significant test of human nature. Unless you can insist on using only a very small amount of money, such as 100U or 300U, this aligns with the strategy of 'small bets for big returns' rather than 'big bets for small returns.' I share methods, hoping to provide some reference for contract players.
If you are currently confused and directionless in trading, comment 1; this bull market will make you rich.
