Newbie entering contracts, avoid these pitfalls or go broke in seconds!
Newcomers to contracts have been suffering terribly recently, entering the market only to lose everything, all due to the same "deadly logic" that can lead to complete financial ruin!
Pitfall One: Maxing out leverage and gambling your life
Always wanting to get rich overnight, betting with 50 or 100 times leverage, a small market fluctuation can wipe out your account in seconds! Contracts rely on rhythm risk control, 3 to 5 times leverage is stable, capable of withstanding a 20% fluctuation.
Pitfall Two: Holding on without stop-loss until death
"Just wait for a rebound" or "cutting losses is too painful", results in worsening losses and total defeat! Set stop-loss when opening positions, move up profits to lock in gains, this is the life-saving tactic.
Pitfall Three: Betting all capital and losing everything
"Rare opportunities, go all-in", and the capital evaporates in an instant! Calculate position size according to the formula: with 10 times leverage on a $10,000 capital, each trade should not exceed $200.
Pitfall Four: Emotional trading FOMO traps
Chasing highs during surges and cutting losses during crashes, 80% of liquidations stem from this! Plan ahead and execute strictly, don’t let emotions disrupt your account.
Pitfall Five: Not understanding tactics and getting killed
“Wicks” and “slippage” leave newbies confused, choose mainstream exchanges and be cautious during extreme market conditions.
The cryptocurrency contract market is brutal yet enticing, opportunities are reserved for those who understand! Learn from me, accurately analyze the market, avoid pitfalls, seize opportunities, and make steady profits! If you want to avoid pitfalls and increase your account, come find me!