Newbie newbie can avoid at least a few years of detours after reading!

If you are in a losing position with your contract and you want to turn losses into profits, then you need to read this article carefully. Follow the six points below to ensure 100% that you can achieve profitability.

1: Learn to take profits and cut losses
The market changes rapidly, and you must learn to take profits and cut losses. It's not difficult to say this; taking profits is about controlling your own greed. A coin will not rise endlessly, nor will it fall continuously; there are cycles. Therefore, taking profits becomes especially important. Don't always worry about closing positions too early and missing out on later profits! You must remember that the money in the crypto world is never-ending, but the money in your account can be completely lost.
Stop-loss is about giving up sunk costs, which is also very difficult. Don't always think that if you hold onto a position, the market will reverse in the next second. Never think like that. If you're wrong, you're wrong; you have to admit it. When taking a hit, stand at attention. Although it hurts to cut off a limb to survive, it can truly save your life.

2: Do not trade frequently.
It's a big taboo to always think about profiting from both sides. Wake up, not many people can do that. Just be content if you can profit from one side. Another point is the transaction fees. It's manageable with low leverage, but with high leverage, it becomes painful. As soon as you open a position, you lose 1 to 2 points of profit. You need to ensure that this trade can make money; otherwise, there's no point in opening it at all. All your earnings just go to the market makers as fees!

Three: Learn to go empty
When you don't understand the market, don't blindly open orders. At this time, you should say that missing out on the market is uncomfortable. So let me ask you, is it more uncomfortable to miss out or to incur losses? Not understanding the market and blindly opening orders without grasping the direction is no different from gambling!
Trading is about having a probabilistic advantage; no one can accurately predict whether the market will rise or fall. The market changes too quickly, so one can only say that there is a high probability of it going up or down.

Four: Gradual Progression
Don't always think that you can become a big fat person in one go; haste makes waste!
The cryptocurrency world won't make you rich overnight. For example, if you invest 100 with a leverage of 10 times, your position is 1000. A one-point increase earns you 10, and a two-point increase gives you 20, which is enough for a breakfast. Currently, working in a factory pays 15 an hour. If you manage three to four trades a day and achieve a win rate of 60-70%, it’s definitely more comfortable than working in a factory.

Five: Do not go all in with heavy positions.
Never, ever go all in with heavy positions. If something unexpected happens, it could all be lost. For example, the market may rise as expected, but then a major news event suddenly causes a sharp decline, and if you haven't set a stop-loss, you're done for! So don't rush into things; always take a light position and prioritize stability. The crypto space is not short on market movements or opportunities; they will always be there, at least for the next 10 to 20 years. So don't be deceived by the illusions in front of you!

Six: It is important to achieve unity of knowledge and action.
This point is indeed quite difficult, including sometimes I can't fully achieve it; the weaknesses of human nature are hard to grasp!
I used to be a newbie too. I didn't understand these basic questions at first, blindly opening trades without any plan! After being in the industry for a while, you'll realize that the crypto world can truly change your fate! The prerequisite is that you must have a mindset that far exceeds others, the courage to take risks, the decisiveness to cut losses promptly, and the determination to fight for survival! Otherwise, you'll never become part of that 1% destined for greatness!