In the past, everyone in the cryptocurrency world was trying to get rich overnight; everyone wanted to become wealthy overnight, but how many could actually achieve that? Many people are easily influenced by a single phrase in the square and end up fully leveraging their positions. How many can really control it? The cryptocurrency market truly tests human nature. In the first half of the year, a student lost $10,000 and their mentality collapsed. Recently, things have been better; I started with $400 and reached $1,400 in a week. I will continue to work hard and keep learning. I now understand that wealth comes from accumulation; as long as I’m making a profit every day, that’s enough. Overthinking leads to nothing. I also hope that the big players will become wealthy soon and never get liquidated. Let’s meet at the peak! @Huma Finance 🟣 #humafimance
Inventory of 4 lesser-known trading tips in the crypto world 1. If you bought 10,000 U when a coin was at 10 U, and then bought another 10,000 U when it dropped to 5 U, your average cost is 6.67 U, not the imagined 7.5 U. 2. If you have 100,000 and make 1% profit daily before exiting, assuming 250 trading days a year, your assets could reach 1,323,200 in one year, and you could earn 10 million in two years. 3. If the probability of successful investments is 60%, and you invest 100 times in a row, setting your take-profit and stop-loss at 10%, the final yield would be 300%. 4. If you enter the market with 10,000 U, making 10% profit each time, you could reach 1 million U on the 49th day, 10 million U on the 73rd day, and over 100 million U on the 97th day. To achieve what is mentioned above, not a single person out of ten thousand can do it in practice, primarily because they cannot control their greed. I won't discuss spot trading today; let's talk about contracts. In contract trading, it's essential to have your own position management and capital management, and then open positions according to your risk tolerance. So, what is position management and capital management? Position management, capital management: If you have 10,000 U in funds, many novice traders or some experienced investors use 20%-30% of their principal as the basic position. This will greatly affect your mindset, whether you profit or lose, thereby influencing the final outcome. My personal habit is to use 2%-5% of the principal as the basic position, with a leverage of 20 times. Those who casually use 100 times or even 125 times leverage are essentially courting disaster. Whether in futures, stocks, or crypto contracts, spot trading is a game of human nature; leverage amplifies one's greed. Everyone has their own greed, and if you amplify your greed infinitely, you will eventually be consumed by it. Therefore, having your own capital management and position management in trading is fundamental for long-term profitability. By the way, let me mention the coin PEOPLE, which I started paying attention to last year, when it was basically at the bottom. I remember that the price I bought back then compared to the current market price is about ten times higher, taking roughly more than half a year. Let's work hard together @Huma Finance 🟣 #humafinance