Because most people do not have a way to make money and still want to turn their lives around.
This is an era where resources are distributed extremely unevenly, and it is also an extremely unfair era. A very small number of people have amassed huge wealth through power and resources, while most ordinary people can only struggle at the bottom, trying not to fall and still hoping to cross classes, but have no channels.
The cryptocurrency world has given ordinary people a thought, a hope. Although the probability of success is small, having hope makes people flock to it.
I spent nearly two years before I really made my first pot of gold in the cryptocurrency world. I got involved in cryptocurrency contract trading in 2018, and at that time, I was fearless. With my own strength, I lost over 800,000 in half a year. I was still working at that time, and 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 start. I think the hardest part isn't how much I lost, but the feeling of loss, the negative emotions under long-term pressure, and feeling gloomy all the time.
In the following year, I continued to make and lose money, but I became more and more familiar with Ethereum's trend, gradually forming my own market feel and trading rhythm. Perhaps due to good luck, 2020 was a bull market; with Ethereum's surge, my trading system also matured day by day. The points for intraday swing trading became more precise, and emotional control significantly improved. That year, in addition to recovering previous losses, I also earned an additional nearly 800,000 USDT. Until now, my trading strategy has been to trade with 30,000 USDT, withdraw profits upon doubling, and after a liquidation, rest and adjust before continuing trading. This approach is also a form of capital risk control. I only trade intraday, resolutely avoid overnight positions, and firmly avoid holding contrary positions to prevent getting caught in extreme market movements.
After trading full-time for two years, I gained a deeper understanding of this market. In the cryptocurrency world, one day is like a year in the human world. The market oscillates between long and short positions; as long as there is volatility, making certain swings can make money regardless of the direction. Sometimes, you need to avoid letting your subjective judgment interfere with the objective market trend because too much subjective judgment can lead to losses if the market goes against you. Therefore, just trade along with the market trend. There are actually countless opportunities in the market; as long as you avoid making the same mistakes repeatedly, such as holding the opposite position or over-leveraging against the trend, you can protect your capital and definitely make profits in the market.
Contracts are a testing ground for human nature. Sometimes, after multiple operations and continuous losses, it’s easy to get carried away and over-leverage or hold the opposite position; these are mistakes caused by human nature.
Trading is often counterintuitive, and full-time trading requires overcoming more pain, misunderstanding, and loneliness. Also, never self-deny; slowly find your own trading rhythm. When things are going well, don't get carried away with fantasies, and when things are going poorly, don't belittle yourself.
When you realize that you are speculating, you must also understand that holding positions and trading are two different things. Trading is a verb, an action that is often done intentionally and frequently. When you can better understand what trading is about, your speculation level will become more flexible, and you are more likely to make money in the unpredictable market.
The last point, and the most important one, is that you must know that surviving in this market and speculating is not easy. Your ace in the hole is your own trading rhythm, which can protect your fundamental speculation—your capital. It's like playing basketball; when you have good rhythm, you can almost score every time. When your trading rhythm is on point, you can make money on almost every trade; it's the same principle.
Finally, I wish you fewer entanglements on your trading journey and a path towards wealth. You are also welcome to communicate on my profile. I write on Zhihu more to find like-minded individuals to move forward together. The trading path is very lonely, and having someone to accompany and communicate with is a very happy thing. I hope you can take fewer detours in your pursuit of wealth.