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

If you are in a losing position with your contract and want to turn that loss into profit, then you need to read this article carefully. Follow the six points below to ensure you can achieve profitability 100%.
1: Learn to take profits and cut losses
The market changes rapidly, and it is essential to learn how to take profits and cut losses. This is not as difficult as it sounds; taking profits is about controlling one's greed. A coin will not rise indefinitely, nor will it fall continuously; there are cycles. Therefore, taking profits becomes particularly important. Do not always worry about having closed your position too early and missing out on future profits! You must remember that the money in the crypto world is endless, but the money in your account can be lost completely.
Stop-loss means giving up on sunk costs, which is also very difficult. Don't always think that by holding on to a position, the market will reverse in the next second; never think like that. If you're wrong, you're wrong, and you have to admit it. Stand at attention when taking a hit; although it's painful to sever a limb to survive, it really can save your life.
2: Do not trade frequently
It's a big taboo to always think about profiting from both long and short positions. Wake up, not many people can do that. Be content if you can profit from one side. Another point is the transaction fees; it's manageable with low leverage, but it's tough with high leverage. As soon as you open a position, you lose 1-2 points of profit. You need to ensure that this trade can make money; otherwise, opening this position is meaningless, and all your earnings will just go to the market makers as fees!
Three: Learn to be in cash.
When you don't understand the market, don't blindly open positions. At this point, you have to say that missing out on the market feels bad. So let me ask you, is it worse to miss out or to incur losses? Not understanding the market and blindly opening positions without grasping the direction is no different from gambling!
Trading is about having a probability advantage; no one can accurately predict whether the market will rise or fall. The market changes too quickly, so we can only say that there is a high probability of an increase or decrease.
Four: Gradual Progression
Don't always think you can become a big fat person all at once; haste makes waste!
The crypto world won't make you rich overnight. For example, if you invest 100 and leverage it 10 times, your position becomes 1000. If it goes up by one point, you earn 10 dollars; if it goes up by two points, you earn 20 dollars, which is enough for a breakfast. Nowadays, going to work in a factory earns about 15 dollars an hour. If you manage three to four trades a day and maintain 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 gone. For example, the market may be rising as expected, but if a heavy news event suddenly causes a sharp downturn, and you haven’t set a stop-loss, then it’s game over! So, don’t rush things; always enter with light positions and prioritize stability. The cryptocurrency market is not lacking in opportunities; they will always be there, at least for the next 10 to 20 years. Therefore, do not be misled by the illusions in front of you!
Six: You must ensure that knowledge and action are unified.
This point is indeed quite difficult, including that sometimes I can't fully achieve it; human weaknesses are hard to grasp!
I was once a newbie too, and I didn't understand these basic questions at first. I blindly opened positions without a plan! After being in the industry for a while, you'll realize that the crypto world can truly change your destiny! The prerequisite is that you must have a mindset that far exceeds others, the courage to take risks, the decisiveness to cut losses in time, and the determination to survive at all costs! Otherwise, you will never become one of that 1% destined individuals!