Making Money in the Cryptocurrency World: Don't Make Small Profits, Don't Lose Big Money

How can you make money in the cryptocurrency world?

There is a very important principle in trading: don't make small profits, don't lose big money.

It's just eight simple words, but actually very difficult to achieve. For example: you opened a position with 20,000, and right after it went up to 21,000. You were very happy, took your profit, and made 5%, feeling great, but then the market continued to rise to 25,000... You made 5%, but missed out on 50%;

Then you tell yourself that you want to make big money, and this time you're determined not to take profits. Then the market goes back to 20,000, and you opened another position. After that, it went up to 21,000 again, and you remind yourself to learn from the last lesson and hold on for big money. As a result, the market goes back to 20,000 and even drops below to 19,500, and you ended up taking a loss.

It's so hard for me!

Many people spend their whole lives constantly switching between this dilemma, never able to break free.

Is there a way to make money in both big and small markets?

No, it's a choice. I generally choose not to make small profits and wait patiently.

Trading is a long-term practice, whether you are short-term or long-term. Making 200% in a big market, as long as you can hold on to most of the profits, the next time you encounter a big opportunity, you can earn another 200%, and that’s 4 times... As long as you can preserve profits, you can compound them. If you make 200% this time and then lose it back, what’s the use? In the trading market, there is no such thing as missing out; there are only two results: loss and profit.

Some people might feel they have found the right path and that they are about to become rich.

Finding the path only means that your chances of making money have increased.

In fact, this kind of operating method requires high levels of mentality, patience, and courage.

1. Are you willing to patiently wait for the right position?

2. Can you boldly open positions without caring about the principal, even if you lose everything? The anxiety of missing out, the urgency to secure profits after making money, the worry of losing after opening a position... It takes a long time to cultivate these traits. If you want to play, be cautious, while also trying to pursue profits.

Of course, finding the path is still much better than those who play blindly. Many people go their whole lives without finding out where the path is.