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Dare to trade. Dare to win.
Today I would like to share some personal insights, hoping to help those of you in the crypto world who are exploring this path.
First of all, I want to emphasize that a good mindset is more important than skills.
1. Capital Management:
If your funds are limited, you need to be more frugal. Just seizing one major rally opportunity in a year is enough. Don't always operate with a full position; keep some reserve funds to deal with emergencies.
2. Enhance Cognition:
Returns are closely related to your level of understanding. Simulated trading can help you get familiar with the market, but trading with real money will bring greater psychological pressure and challenges.
3. Timely profit-taking:
When there is positive news, if you are unable to sell on that day, then the next day's opening high point is the best exit opportunity. Positive news usually triggers a large amount of selling, causing the price to retreat.
4. Holiday Strategy:
As the holidays approach, consider reducing your positions in advance or simply refrain from trading. During the holidays, market activity declines, and there is a high likelihood that market makers will take action when liquidity is thin.
5. Long to medium-term holding:
When making medium to long-term investments, ensure you have enough liquid funds on hand. Sell appropriately when prices rise and buy more when they fall, which can both reduce costs and allow for flexible strategy adjustments.
6. Choose superior coins:
When trading short-term, choose those coins with high trading volumes. Coins with poor liquidity may put you in a difficult situation.
7. Understand market rules:
The market often shows a pattern where there is usually a moderate rebound after a slow decline; whereas after a sharp drop, there may be a quick recovery.
8. Strict Stop Loss:
Once a reversal in direction is detected, stop loss should be implemented immediately; do not harbor fantasies of waiting to break even. Protecting the principal is the most important.
9. Utilize technical analysis tools:
For short-term traders, it is very important to frequently check the 15-minute candlestick chart and look for buy and sell points in combination with indicators such as KDJ. Paying attention to indicators like MACD and RSI is also a good choice.
10. Focus on mastering a few skills:
There is no need to pursue mastery of all technical analysis methods; just focus on a few that suit you best.