Trading in the cryptocurrency market is as addictive as gambling! As someone who has been through it, I went bankrupt three times in a year, accumulating a debt of 9 million, and then made over 30 million, achieving financial freedom.
In the past two years, from November 2021 to September 2023, I started with less than 400,000 and managed to grow it to over 31 million. As someone who has experienced this, if you also want to treat cryptocurrency trading as a second source of income, I would like to give some advice to those new to the cryptocurrency market:
First: Do not trade emotionally. Trading is not about releasing emotions; it's not because "it’s too weak, I want to short" or "I feel like it's going to rebound." Any trading without logical and systematic support is just giving away money.
Second: Controlling your position size is more important than anything else. You may think you succumb to the market conditions, but in reality, you succumb to your position size. A full position in the wrong direction nullifies even the best strategy.
Third: Do not hesitate to set stop-losses. Many people fall into the trap of "just watching a little longer," which leads them straight to ruin. Mature traders do not avoid mistakes; they recognize them immediately and act.
Fourth: Trade familiar markets, and do not touch currencies you do not understand. If you don't understand it, don't touch it; don't chase what others are shouting about; don't chase after something that is rising too rapidly.
Fifth: Set a clear trading system and execute it decisively. This includes entry logic, profit-taking and loss-cutting rules, and position sizing standards. Execution is more important than the strategy itself.
Sixth: Acknowledge that you are an ordinary person; do not fantasize about getting rich overnight. Truly successful people do not double their investments every day; they consistently outperform 90% of others. It's not about making money quickly, but about lasting longer.
Seventh: Trading is not everything in life; make sure to keep some emotional space. Do not tie all your emotions to profits and losses, as it can easily turn from "losing money" to "losing control."
The last and most important point: If you want to make big money, first learn how not to lose money. This is a market that goes against human nature; if you want to take money from others, you must be calm, rational, and patient enough.
If you can do this, your asset curve will surely trend upwards. You could even say: with a 95% probability, you will achieve significant financial growth.
One person alone cannot support everything; moving forward alone is less effective than following a larger group! Having a good team to guide you is always much stronger than going solo!
$ONDO $W $TIA
