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From 60k to 9.5 million entirely depends on repeatedly remembering Cat Brother's 5 sentences:
Many friends prefer short-term trading, but short-term trading demands very high operational skills, especially stricter discipline and mental resilience.
Of course, the iron rules for short-term trading buy and sell:
1. Don’t sell when it doesn’t rise high, don’t buy when it doesn’t plunge, and don’t trade during sideways consolidation.
"Don’t trade during sideways consolidation" means that when the price fluctuates within a small range for a period of time without a clear upward or downward trend, it’s best to stay put and wait for the consolidation to end before assessing the situation for trading. If you trade during consolidation, once the trend reverses, you will inevitably cut losses or chase the rise, which is undesirable. During consolidation, the price difference is small, and if you lack patience and trade multiple times, it will inevitably lead to loss of fees.
2. Don’t buy when it’s bearish, don’t sell when it’s bullish; go against the market, that’s the hero’s way.
The principle of going against the market is explained in two secrets: the first is for short-term trading, the second for mid-term trading. That is, when buying, choose when the candlestick closes bearish; when selling, choose when the candlestick closes bullish.
3. Wait a bit longer during high and low consolidations.
When a coin continues to rise or fall for a period and then enters sideways consolidation, there’s no need to sell all at high levels or buy all at low levels, because after consolidation, a trend reversal will occur. Therefore, during consolidation, do not subjectively decide to build or clear positions. If it reverses downward from a high, clear the position promptly to avoid loss; if it reverses upward from a low, chase in timely to avoid missing out.
4. After high-level sideways consolidation, push higher and seize the opportunity to sell; after low-level sideways consolidation and making new lows, re-enter at a good time.
Prices and the market often reach new highs after high-level consolidation and new lows after low-level consolidation. Therefore, wait until the trend reversal direction is clear before acting. For example, if after high-level consolidation it turns upward and makes a new high, that’s the best time to sell; if after low-level consolidation it turns downward, that’s the best time to heavily buy in.
5. When a correction nears its end and suddenly drops, patiently wait and do not sell.
When the price of a certain coin approaches the end of a correction but investors buy in and the price remains stagnant, then suddenly breaks downward, losing patience and selling immediately, only for the price to V-reverse and break out upward afterward. This rule is to tell everyone that when there is a change in the market, patience is needed. Losing patience easily leads to a situation where everyone profits but you alone suffer losses.