Can Contract Trading Really Make You Rich Overnight?
There are many experts in contract trading, and here are some suggestions from Di Ge regarding contract trading:
1) At a low position, just hold on and let it be. Don't let the market shake you out; hold onto your trend positions. If you want to make money, aim for big profits; merely taking short trades doesn't help.
2) Do not roll over positions or add to positions. Before opening a position, you must think through all the worst-case scenarios and set stop losses. If you add to your position later, it means you were wrong from the start. If you were wrong, why continue trading? Rolling over positions can lead to liquidation by the main players. (I learned this the hard way, with C Shen calling for OMG 20X in mid-August, starting at $5... I opened a 30X position, then stupidly used floating profits to open other altcoins and rolled over. When I hit a $9.7 retracement, I got liquidated, watching OMG rise to $15 now, hitting my thigh in regret.)