10,000 USD to trade, turning it into 10 times in three days?
Here are some simple insights I want to share about my trading experience:
1. Your mindset must be stable. When I first started trading contracts, I divided the 10,000 USD into 5 parts, with 2,000 USD for each part. I would operate with one part at a time. During the lowest point, I lost 4 parts, and I told myself that if the fifth part is lost, I would stop trading. The last part must be played cautiously.
2. You must learn to summarize your experiences. From the four parts I lost earlier, my personal takeaway is to never be greedy. This is a common issue. The first time I saw the contract currency I bought increase by 5 times, I couldn't bear to sell it, and the next day it plummeted and got liquidated... I regretted being greedy..
3. Learn to take profits and cut losses in a timely manner. Set a target. I usually choose two currencies to trade in popular sectors or within the top 10 by trading volume, generally buying them at a 5%-8% dip from their values at 10 a.m. that day, and I withdraw once I double my investment.
4. Reserve enough margin. Trading contracts can lead to liquidation, so please make sure to reserve enough margin. I usually keep 1/3 of the margin to withstand small fluctuations.
5. Lastly, I generally take 3/5 of the profits I earn from trading contracts to buy the platform's tokens or other mainstream currencies, while the remaining continues to be invested in contracts. Buying the platform's tokens is to increase my risk resistance.
Recently, I have been arranging for a great trade. Comment '1' if you want to get rich in this round of bull market.
