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Iron Rule One: Understand market sentiment, trading volume is the core indicator.
• Rising trading volume stabilizes prices: A significant increase in trading volume while prices remain stable may signal the end of a downward trend.
• High trading volume with stagnant prices: A surge in trading volume without a significant price increase may indicate a short-term peak.
• An increase in price accompanied by rising trading volume: During the price increase, trading volume should remain steadily increasing; an abnormal reduction or surge may indicate the end of the upward trend.
• Increased trading volume at key downside levels: When the price falls to key positions, trading volume surges, potentially extending the downward trend.
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Iron Rule Two: Key Price Levels Guide Trading Decisions
• Support, resistance, and trend lines: decisive action is key when the price reaches these critical levels!
• Golden Ratio Principle: I use it to accurately predict support and resistance, with significant results.
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Iron Rule Three: Comprehensive analysis of the market across multiple time periods
• 1-Minute Chart: Capture precise entry and exit timing.
• Three-minute chart: Monitor the price fluctuation trend after entering.
• 30-minute to 1-hour chart: Capture the subtle changes in intraday trends.
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Rule Four: Stay Calm After a Stop Loss
• Stop loss means the end of the trade: Each trade is an independent starting point, don't let the past influence your judgment.
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Iron Rule Five: Efficient Position Management Strategy
• Three-Stage Accumulation Method:
1. Initial Positioning: When the price of the coin rises above the five-day moving average, make the first purchase.
2. Increase position: Break through the fifteen-day line, continue to increase position.
3. Ready to go all in: Stand firm on the 30-day line and complete the position building.
• Strict Stop-Loss Discipline:
• Break below the five-day line, reduce positions;
• Break below the fifteen-day line, then reduce;
• Break below the thirty-day line, full retreat!
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Rule 6: The shipping strategy is equally important.
• Break below the five-day moving average: moderately reduce positions and observe the changes.
• Break below the 15-day and 30-day lines: decisively liquidate, leaving no regrets.
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Tip 7: Be cautious of market news and don’t let emotions dictate your actions.
• Frequent good news but prices don't rise: Beware of the market makers offloading, take profits in a timely manner.
• Negative news continues to emerge but prices do not fall: This may be a bottom signal, keep a close watch.
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Iron Rule Eight: Persist in reviewing and deeply mining trading experiences.
• Daily Review: Summarize the reasons for success and failure, and extract lessons learned.
• Regular Review: Analyze past trades, adjust strategies, and enhance awareness.
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Rule Nine: Set profit targets and don't be greedy.
• Clearly define profit range: decisively take profit when the target is reached, do not chase highs or sell low.
• Learn to take profits in batches: Especially in a bull market, do not sell everything at once.
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Iron Rule Ten: Mindset is King, Always Stay Calm
• When at a loss: Don't rush to recover, analyze your mistakes calmly.
• When making a profit: Don't be blindly confident; the market is always full of risks.
• Be patient and wait for opportunities: Don't be hasty or anxious; it's better to miss out than to make a mistake.
These iron rules are valuable experiences gained from countless failures and successes in the world of money. On your journey of trading cryptocurrencies, may you avoid traps and move forward steadily!