From the dream of getting rich overnight to owing 500,000: my crypto world contract lesson

My first pot of gold in the crypto world: from 42 million to financial freedom. Post-90s woman, graduated from university in 2012, entered the crypto world in 2016, now owns two houses, two cars, spends 100,000 per month without pressure, and mainly holds assets on the exchange.
1. Staying up late is the norm. For traders in the crypto world, staying up late is a daily routine. Long hours of watching the market and analyzing news can be exhausting, making many traders appear ten years older than their actual age. Fortunately, I still pay attention to my appearance, after all, 'eating with your looks,' haha.
2. The Anxiety Behind the Chic Many people think that traders in the crypto world are living it up every day, but in reality, our lives mostly consist of mundane monitoring and reflection. Even when we go out to have fun, we can't completely relax because there are too many people trusting us, and each trust brings pressure. This pressure drives us to keep improving, but it also prevents us from truly stopping. 3. Pressure and Growth From initially feeling immense pressure to now being able to handle even greater pressure, trading in the crypto world has constantly helped me grow.
Contract trading is mainly short-term, so you must keep an eye on the market at all times, looking for suitable opportunities. At the same time, you also need to respond to various questions. The price difference often determines success or failure. My trading principles
1. Farewell to emotional trading, respect market sentiment
2. Set stop-loss orders strictly, and the stop-loss orders should be determined based on the market and one's own risk tolerance.
3. Stick to the original view, admit it when wrong
4. Trading is not about who earns more, but about who goes further. The truth about contract investment in the crypto world: balancing risk and opportunity. There is a saying in the crypto world: 'Success is also in contracts, failure is also in contracts!' Contract trading is full of huge risks and also has the greatest opportunities. How to survive and increase wealth in such a market is a skill that every trader must master.
Suggestion 1: Low position, low leverage operation The primary principle of contract trading is "to survive". Low position and low leverage operation can reduce the risk of liquidation and ensure the safety of funds. Especially for novices, accounts with less than 10,000 U should be more cautious.
Recommendation 2: Reduce trading frequency. Frequent trading is a fatal blow to many investors. Reducing the frequency of trading to no more than twice a day can give you more time to analyze the market, increase success rate, and reduce emotional interference.
Recommendation 3: Avoid passionate and emotional operations. Passion and emotional operations are the two main causes of failure. No matter how the market fluctuates, stay calm, clarify the operational logic and goals to avoid liquidation.
Recommendation 4: Small coins carry extremely high risks, not recommended to trade. Small coins have high volatility and extremely high risks.
Even if you make ten correct trades, one mistake could wipe out all your profits. It's far more important to trade prudently than to blindly chase highs and lows. How to find a foothold in the futures market
1. Low position and low leverage operation, keep the funds safe
2. Reduce the frequency of trading and avoid emotional operations
3. Control emotions and face market fluctuations rationally
4. Avoid small coins, operate steadily, and remember the rules of short-term trading.
• Focus on the trend after the market consolidation: after consolidation at high levels, it often reaches new highs, while after consolidation at low levels, it reaches new lows. Wait for the direction of the market to become clear before taking action.
• Do not trade in a sideways market: Be patient and wait when the market is unclear.
• Buy when closing with a bearish candlestick, sell when closing with a bullish candlestick.
• Pay attention to the rhythm of the decline and rebound: when the decline slows down, the rebound is slow, and when the decline accelerates, the rebound is stronger. Summary: Crypto world trading is a long-term battle against human nature. Only by staying calm can we find a balance between risk and opportunity, and achieve wealth appreciation. If you think this article is good, please share it with your friends around you.