Can you make money in the cryptocurrency market? Yes, but most people do not earn
There are indeed opportunities to make money in the cryptocurrency market, but over 80% of people are losing. Many make a profit by luck only to lose it back again, also by luck. The reasons boil down to several categories:
Floating gains are not taken, resulting in a pullback turning into floating losses
Can't withstand floating losses, cut losses
Struggled to break even, just getting back to the original investment and eager to exit
Emotional trading, lack of patience, lack of system
Clean source of funds, do not borrow money to trade cryptocurrencies
Only use spare money to trade cryptocurrencies, absolutely avoid loans, do not borrow money, and do not touch funds with unclear origins.
Especially during the withdrawal phase, ensure compliance, do not bring trouble due to a piece of "dirty money."
See through the tricks of the market makers, do not blindly follow the crowd
The market makers' washout timing is uncertain, and the goal is to wash away weak-willed retail investors.
Positive and negative news is often a tool used by market makers to offload or accumulate, the news you see, the market makers already know.
Establish a trading system, do not rely on luck to gamble
If you want to survive in the cryptocurrency market for a long time, you must have a stable and executable trading system:
Do not trade in markets you do not understand
Do not trade when the risk is greater than the reward
Do not gamble, do not go all in
Strictly take profits and cut losses
Safe deposit and withdrawal + scientific capital management
Use familiar people/long-term stable merchants for deposits and withdrawals, avoiding risk control
Capital allocation: focus on mainstream coins, with altcoins as a supplement
Test with small positions, do not heavily invest in altcoins
Use AICoin to check the fundamentals of coins (whether there is institutional investment, number of exchanges listed)
It is recommended to use a pyramid-style averaging strategy to reduce costs and control risks
Trading cryptocurrencies can make one rich, but more people suffer heavy losses. Awareness, system, mindset, and execution are the keys to long-term profitability.
Winning once by betting is luck, surviving long-term is skill.
