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An MCS Trader with UID 10041 has achieved a return of 500%. 🎉To congratulate the success of our trader, an interview that explores the know-hows and techniques of UID 10041 was conducted by MCS.
🔸 Congratulations again on the 500% profit! Can you give us a brief introduction of yourself?
UID 10041：Hello! My name is 三生花下育菩提 but my friends call me Chacha. Thank you for giving me the chance to share my trading techniques.
Of course, I am far from being an analyst. I am an ordinary trader that follows the market trend.
🔸 How do you feel about your 500% profit?
UID 10041：hmm.. there is nothing much really to share. Perhaps due to my previous trading experiences, I have strong abilities to maintain a calm emotional state. So rather, I became quite insensitive to trading. Interestingly, Perpetual Contract trading seems to make people calmer.
🔸 How did you find out about MCS?
UID 10041：I came across MCS by coincidence. As a person who has been trading cryptocurrency for a long time, I often look for articles on various cryptocurrencies. One day, I found out that MCS is preparing for the official launch and I registered on the testnet because the UX/UI was nice. Which lead me to participating in the mock trading competition. As a cryptocurrency trader, there is nothing more exciting and joyful than watching a new exchange grow.
🔸 You made a 500% profit from the bonus. Did you set any goals before trading?
UID 10041：Whenever I do anything, I always begin after setting a goal. For traders, goals are hopes and beliefs. To start trading, you must set your own goal. Of course, you have to consider many things before setting that goal. For example, each order has a target return, stop loss mark, take profit mark and final return. Also, you have to manage your assets reasonably. There is a way to withdraw at least once a week to minimize risk.
🔸 Have you made big profits like this before?
UID 10041：I have participated in mock and real trading competitions of other exchanges. The majority of the time, the results weren't bad. Of course, I may have lost money when out of luck, but this seems natural if you are trading perpetual contracts. It is full of challenges and mysteries in perpetual contract trading and high profits and risk co-exist. This makes the product very attractive. I believe perpetual contracts are in the process of creating something from nothing. All we can do is reduce risk as much as possible and maximize returns.
🔸 How many hours per day do you trade on MCS?
UID 10041：I am not a professional trader but I have traded cryptocurrencies for a long time. Due to the nature of my current job, I dedicate a lot of my day investing. This is because I know that the market changes very quickly. I want to advise everyone that if you do not have enough time to monitor, find a way to well-maintain your position.
🔸 This question may be a little personal but how did you start cryptocurrency trading?
UID 10041：This is quite ironic because the time I started trading was the time many people were saying cryptocurrency is a scam. I was rather more and more attracted to cryptocurrency trading from that point on. At first, I participated in a lot of private sales with friends, and after a while, I came across futures trading. I am fearless and curious so I made many profits but also made many losses.
🔸 Please share your own investment strategies or know-hows.
UID 10041：I have several different strategies for trading, but in common, I think it's important to do it without personal feelings, like a robot. I personally follow the eight-line theory(八线理论) and twining theory(缠论) that are popular in the Chinese stock market. Of course, I've also looked at candle charts, shapes, average lines, trends, Fibonacci, but I think the eight-line theory and twining theory fit me better.
When managing positions, I personally prefer the '11233' method. For example, if the current BTC price was 10,000 USD, there were 100 positions available to open. Then I would open 10 long positions at market prices, the rest 10 at 9,900 USD, 10 at 9,800 USD, 30 at 9,700 USD, and 30 at 9,600 USD. Specific intervals between orders are determined based on the market trends at the time. I would be satisfied if I can realize 20% profit. When it comes to short positions, you can manage the positions the other way around.
🔸 There are many traders in MCS who have various levels of trading skills. Is there anything you want to say to those who just started trading?
UID 10041：If you've just started trading, you should first take a rational approach to contract trading, deal to the extent that you can afford, and throw away the wild illusion of being rich overnight. You need to manage your positions reasonably. If you are really interested in trading, I'd also recommend some related books.
📕 Books Recommendation
• Basic Techniques: Japanese Candlestick Charting Techniques (2nd Edition) by Steve Nison; Moving Average Analysis by 邱立波; Technical Analysis of Stock Trends by Robert D. Edwards, John Magee, W.H.C. Bassetti.
• Basic Trading System: Trading for a Living by Alexander Elder
• Basic Psychology of Trading: 十年一梦 by 青泽
The interviews will be continued in Part 2.
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