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Having been involved in contracts for so long, I've seen too many people fall into the same traps. For volatile coins like $BERA, beginners can lose six months' salary in just one night, but I've also seen people turn around from continuous liquidation to stable profits. What's the difference? It's simple — just do the basics right.
If you're currently frequently losing, always trading in the wrong direction, or easily losing your composure, these few pieces of advice are really worth reading from start to finish. It may sound like common sense, but it can save you years of detours. There are no secrets to making money; it's about doing what needs to be done properly.
**First: Learn to Take Profits and Cut Losses**
Market ups and downs never follow your script. The only thing you can control is your exit point. Taking profits means restraining greed — you can't take all the profit, but your principal can be wiped out. Cutting losses means having the courage to admit you're wrong — if your account gets wiped out, everything is gone.
**Second: Don't treat trading as a game**
Those who want to catch every move up and down will eventually be eaten by the market. Especially with high leverage, you first lose the trading fee when opening a position, and before you make any profit, you're already behind the starting line.
**Third: Stay out if you can't see the direction clearly**
Missing out on a move is painful for five minutes, but liquidation can make you suffer for half a year. If there's no relatively clear direction, don't open trades at random. That’s not trading — that’s gambling with your life.
**Fourth: Don't dream of getting rich overnight**
Even with only a hundred dollars principal, a 10x leverage moving two points can earn enough for breakfast. Some people steadily make a few trades every day, maintaining a win rate of 60-70%, and live a life easier than working a job. The key is consistent execution, not gambling everything on one shot.
**Fifth: Never go all-in**
Sometimes the market is smooth sailing, and other times it reverses instantly. The moment you heavily leverage and push your position, any sudden news can take you out immediately. Light positions are the only way to survive longer.
**Sixth: The most difficult — Unity of Knowledge and Action**
Everyone understands these principles, but less than 1% can truly do them. Trading is not about how strong your skills are, but about your mental toughness — the courage to admit mistakes and the willingness to abandon trades that shouldn’t be held.
I myself have climbed out of the phase of liquidation. Later, I realized that in the crypto world, you can change your fate, but only if you first change yourself. When these six habits become routine, profits are no longer luck but a certainty.