You Should Know This About Crypto Futures Trading (Beginners Guide).
Making money off the crashing market has been the new trend around me lately and it appears most people close to me have gotten attracted to this "quick money in the bear market" propaganda. It all seems easy watching some people making posts on social media about how they made over 200% of their money invested by shorting/ longing the market and this of course seems appealing, but could be quite a dreadful journey. I don't trade the futures market because I'm really not cut out for it but I can throw a bit of my observations to anyone who is willing to get into this and hopefully they'll make good choices.
I've spent some time with folks who have chosen to trade and I've learnt a couple things so far. Successful futures traders don't take revenge on the market, they let by gones be by gones, accept their fate, and learn from whatever event had happened.
They also stick to their trading strategy regardedless of situation or how bad the market is. They really don't flinch and worry much and its kinda like they've become stone hearted. I do compare them to predators of the market because they take the biggest risks out there and stick to their plans, kinda like waiting on their prey and waiting for the perfect opportunity to strike. They're very patient and that patience right there is something I've personally struggled with which is why I don't trade.
Somw of the most succeeded futures traders out there also have light years of experience on the market and are prepared for the worst. They're not some crypto newbie who got into cruptos in the bull market and is desperately looking for a way to recover after the price of their crypto has crashed. They've been here long before most of us came in and yeah, many of them do know where to draw the line between investing and gambling.
Finally, most traders I know don't focus on just trading, many are big time hodlers and you'd be surprised at how much time these guys also put into looking for great projects for long term investment. Regardless of how badly their trades go, there's always a back up plan.
Trading futures could be very profitable but is definitely not on my todo list. The rusk is enormous, the market is filled with uncertainties and instability and considering the mental and emotional, it really isn’t for me. If you're interested in this unique and adventurous journey of being a futures trader, you should take your time and research properly before getting into it.
Please note that this is not a financial advice and is based off my experience with certain cryptos. The crypto market is extremely volatile so please do your own research before investing.