Because most people have no channels to make money and want to turn their lives around.
This is an era where resources are extremely unevenly distributed, and it is also an extremely unfair era. A very small number of people have amassed enormous wealth through power and resources. Most ordinary people can only struggle at the bottom, trying not to fall while dreaming of climbing the social ladder, but they have no channels.
The crypto world has given ordinary people a thought, a hope. Although the probability of success is very small, hope makes people flock to it.
It took me nearly two years to truly earn my first pot of gold in the crypto world. I started engaging in crypto contract trading in 2018, and at that time, I was fearless. I lost over 800,000 within half a year due to my own strength while still working. Although most of it was my savings, I didn't dare let my family know because they didn't understand or support me from the beginning. I felt that the most painful part was not the amount lost, but the feeling of loss—the negative emotions under long-term pressure made me very gloomy.
In the year and more that followed, I continued to earn and lose, but I became increasingly familiar with the trends of Ethereum, gradually forming my own market sense and trading rhythm. Maybe it was good luck; in the bull market of 2020, with Ethereum's surge, my trading system also matured, and my intraday swing trading points became more precise, with significant improvements in emotional control. This year, in addition to recovering previous losses, I also earned an additional nearly 800,000 USDT. Until now, my trading strategy is to trade with 30,000 USDT, double it to withdraw funds, and after a liquidation, rest and adjust before continuing to add funds for trading. This approach is also a way of risk management. I only trade intraday, firmly avoid overnight positions, and resolutely do not hold against the trend to avoid being caught in a massive market movement.
After being a full-time trader for 20 years, I have gained more insights into this market. It truly feels like a day in the crypto world is a year in reality. The market oscillates between bullish and bearish; as long as there is volatility, making certain swings can yield profits regardless of the trend. Sometimes, you need to avoid letting your subjective judgment interfere with the objective trend of the market because too much subjective judgment can lead to holding positions when the market goes against you. Thus, just trade with the trend of how the market moves. There are actually countless opportunities in the market; as long as you avoid making the same mistakes repeatedly, such as holding against the trend and taking heavy positions against it, you can preserve your capital and definitely make profits in the market.
Contracts are a testing ground for human nature. Sometimes, after multiple operations and consecutive losses, it's easy to become overly confident and take heavy positions or hold against the trend. These are all mistakes caused by human nature.
Trading is often counterintuitive, and full-time trading requires overcoming more pain, misunderstanding, and loneliness. Also, never self-deny; gradually find your own trading rhythm. When you're doing well, don't let your imagination run wild; and when you're doing poorly, don't belittle yourself.
When you understand that you are speculating, you must also understand that holding positions and trading are two different things. Trading is a verb; it involves action and often occurs intentionally and frequently. When you can better understand what trading is, your speculative level will become more flexible, and there is a very good chance you can make money in the unpredictable market.
The last point, and the most important one, is that you must know that surviving and speculating in this market is not easy, and your secret weapon is your trading rhythm, which can protect your speculative foundation—your capital. Just like playing basketball, when you have the feel, you can almost make every shot. When your trading rhythm is right, almost every trade can be profitable—it's the same principle.
Finally, I wish you fewer obstacles on your trading journey, and may you move towards wealth. You are also welcome to communicate on my homepage; I write more on Zhihu to find like-minded people to move forward together. The trading path is very lonely, and having someone to accompany and communicate with is a wonderful thing. I hope you take fewer detours on your path to wealth.