Entered the cryptocurrency world in 2019 with a borrowed capital of 60,000. By last year, my assets had exceeded 10 million!
Having been in the cryptocurrency space for ten years, I've tried long-term, short-term, ultra-short, and swing trading, basically every type of method. I have a lot to say about this issue. I always say that mastering a skill takes the 10,000-hour rule: eight hours a day, over 200 days a year for backtesting, which takes about five years, and that's just the foundation for stable profits. There will definitely be big pitfalls within ten years, so to be safe, don't risk more capital than you can handle within that time frame. Many experts who have traded from tens of thousands to hundreds of millions have just leveraged contracts at very high multipliers, and many have died in a bear market; you just don’t know about it. Human nature, in the face of major trends, often leads to a loss of the ability to make correct judgments.
Returning to the main topic, I would like to share with you all:
It's hard to change others in trading; changing oneself is also difficult. But only by changing ourselves do we have hope! Changing others is hard, changing oneself is hard; but only by changing ourselves do we have hope. The financial market never has 'what ifs,' only results! If we can't achieve results in trading, we must have done something wrong; if we can consistently achieve results, we must have done something right, and that's all there is to it. Our way of thinking influences our actions every day, and our daily actions lead to the final results. Losing money is not scary; what is important is to find the real reasons behind the losses, make a firm decision to change immediately, which can help us turn losses into profits. We cannot ignore problems, avoid them, or fail to address them directly; that is the most terrifying thing. Everything has a cause and effect: sow good causes, reap good results; sow bad causes, reap bad results. Our current situation is entirely the result of all the decisions we've made before. Regardless of the outcome, whether good or bad, we must bear it; in the adult world, once a choice is made, even if it’s wrong, we must walk through it on our knees. It all comes down to whether we can accept and face the final results when they correspond to each individual. In the adult world, we must never pretend that the process was very hard because the final result will not accompany us in acting. We need to learn to reflect and summarize more in our daily lives: maintain our strengths and improve on our weaknesses. Given time, we will all get better. The same applies to trading in the cryptocurrency space; we must abandon the mentality of taking chances, give up the desire to get rich quickly or speculate, and refrain from making trades outside of our capability and understanding. Before each trade, we should ask ourselves if we truly understand it, if we have a solid basis for our trading decision, if we've developed a strategy and a risk control system, and whether we can accept failure, among other things! Clearly identifying our own capabilities is an essential element for us as qualified investors. As long as we want to change, any time is just right!
The essence of trading is: cut losses when wrong, hold on when right.#美国加征关税 #Strategy增持比特币 $ETH $BTC