Taking Small Profits In Futures Trading
Futures trading can give you the possibility for very high returns. However, it also comes with a very high risk that you could lose all your assets in a blink of an eye.
Ten days ago, on the 17th of October, I decided to give futures trading another go. I didn't want to top up or spend anything from my wallet, so I decided to do it in Stormgain, where you can mine and withdraw a minimum of $10 on trading.
It wasn't my first time doing futures. I tried it first on the 8th of October 2020 in Stormgain. I bought BTC, and after my first liquidation, where I lost my asset, I topped up again. I already knew how futures worked this time and started getting huge profits.
However, as someone inexperienced, I lost everything because of greed and too much hope. In futures trading, your enemy is not the market but yourself. No matter the market's status, if you know when to Take Profit or Stop Loss, you can somehow secure the rest of your assets. Moreover, it's better to make a small profit in trading than suffer a huge loss or, worse, lose everything you have.
I made enough profits and could soon withdraw my assets back, but due to inexperience, greed, and too much hope, I lost all and went back to 0. Although I told myself not to do it again, I still tried but always failed.
This time, I want to make things right. This time, I will apply what I have learned in the past. So far, I have closed five successful tradings. Also, this time, I bought BCH and not BTC.
As you can see, I made a profit of 1.2516 yesterday. It's not much, but better than no profits at all. I still have one active right now and waiting for the price to go up so I can finally close it.
If this ends well, it will be my sixth time this month. I need to increase my assets here, and maybe, I'll go with BTC next time. I will make sure I won't be greedy, though.
Closing thoughts
We all know how volatile crypto is, and we can use that to our advantage. Buy low, sell high, and you'll make extra from it.
Remember, stick to your plan. Don't be too greedy, hoping to earn more, or things will bounce back immediately. It's better to take small profits than make huge losses. When things don't go as planned, better stop the loss because a little loss is better than a huge one.
You might not understand this if you haven't tried trading yet, but everything I said here will make sense to you once you do.
If you want to try it yourself, you can join here.
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I tried mining on stormgain before sis, but ended up uninstalling it because I really don't know how it works. Hehe. But, I guess I will try it again now that I have this guidance through your piece. Thanks!😉