Can you still make money in the cryptocurrency world?

Anytime is possible, but many people lack the right methods.

I know a friend who runs a local restaurant; it’s not anything fancy, just a small noodle shop.

It probably opened around 2014. At that time, everyone advised him that the restaurant business wouldn't work out, it was exhausting, and you wouldn't make money.

Now he is preparing to open a branch, and as far as I know, he has made over a hundred in a year.

If you have the opportunity, you can go and try it out.

What can we understand from this? At any time in any industry, there has never been a time when it’s impossible to make money; it’s just a matter of whether you have mastered the right methods.

Every day you hear others gossiping, saying this business is out of style today, that one isn’t working tomorrow, and the day after that, the economy is in a downturn, and nothing can be done.

Let’s talk about why it's hard to make money in the cryptocurrency world.

Although no one can predict market trends with 100% accuracy, history will repeat itself, but it will never simply repeat.

Every mistake you make has certainly been made countless times by others, but if you keep making some fatal mistakes in your trading process without changing them or without guidance from experts, even if you do it for another ten years, you still won’t be profitable.

No matter which market you play in, you must have heard this term.

Chasing highs and cutting losses!

Someone must have told you, whether you are trading stocks or futures, never chase highs and cut losses.

The term 'chasing highs and cutting losses' isn’t wrong; many beginners like to chase highs and cut losses when entering the market. May I ask, which person entering the financial market hasn’t done this?

However, experts can make money by chasing highs and cutting losses, while ordinary people keep losing money, even getting liquidated. Why?

This is how ordinary people chase highs and cut losses: they see a stock rise a little but don’t dare to follow, and then suddenly a big bullish candle appears, making them super excited, feeling like an opportunity to grab money has arrived, and if they don’t act now, they’ll miss out on millions.

Then they chase in, only to find they’ve bought at the peak. What to do?

In this situation, the only option is to hold.

As a result, the market starts to fluctuate, the account goes from profit to loss, which is exhausting, and then a bearish candle breaks through the fluctuation zone, starting to pull back, watching the account lose more and more, they think, I can’t take it anymore, let’s cut losses.

Cutting losses follows the same principle; when a big bearish candle comes down, they short. This is how ordinary people chase highs and cut losses.