Having been involved in contract trading for nearly five years, I've seen winners who turned tenfold overnight and others who disappeared after a liquidation. I've accumulated quite a few insights. Today, I want to discuss how to survive long-term in this market and even make consistent profits. The following are practical summaries; they may not suit everyone, but each one is based on hard-earned experience.

First, let's talk about choosing the right coin. Many people like to trade five or six different coins simultaneously, but in the end, they don't master any of them. My approach is to focus on just one mainstream coin, either Bitcoin or Ethereum—just pick one. Why? Mainstream coins have deep liquidity, genuine data, and a lower chance of manipulation. Instead of chasing hot spots everywhere, it's better to understand the temperament of one coin thoroughly. This increases the success rate of your operations significantly.

Next is about tools. You'll see some traders with a dozen indicators on their screens, looking very professional. But after many years, I found that the simpler, the better. I mainly look at moving averages (MA50 and MA20) and trend lines, occasionally checking volume. Too many indicators can conflict—for example, the moving averages suggest a rise while MACD indicates a fall, which confuses traders and makes it hard to hold positions. Simplified tools allow for faster decision-making and a steadier mindset.

Then, there's the importance of review. Spending 20 minutes each day after the market closes to review your trades is more effective than sitting in front of the screen for eight hours during the day. I ask myself three questions: Why did I open this position? (e.g., a breakout above a previous high) Why did I choose this level for stop-loss or take-profit? Was my emotional state influencing my decisions, such as rushing to recover losses? Over time, you'll discover your patterns—perhaps you tend to lose money in choppy markets, so you can avoid such conditions in the future. Regular review helps you correct mistakes and improve rapidly.

Another big pitfall is frequently changing strategies. Many people give up after two weeks without making money and switch approaches—that's a big mistake. Strategies have cycles; it's normal not to see profits in the first couple of weeks. My advice is to stick to a logical approach for at least one or two months. Only with enough data can you judge its effectiveness. Consistency is the foundation of long-term profitability.

Finally, let's talk about mindset. The biggest enemy in contract trading isn't the market—it's yourself. I've seen too many people lose their composure after a single loss, leading to revenge trading, which only deepens their trouble. My method is to set daily or weekly stop-loss limits; once hit, I take a break to cool down. This forces me to stay calm. The market is always there, and opportunities are always present. There's no need to go all-in at once.

Ultimately, making money in contracts isn't about who has the best skills but about who can survive the longest. The longer you survive, the more the power of compound interest manifests.