As a novice, you need to practice these concepts. When there are projects, you can try with small amounts to experiment and practice, adopting a learning mindset instead of coming in thinking about how much money to make. If a newcomer does not improve their execution and learning, even if they happen to make some money now, they will eventually lose it back due to a shaky foundation or other reasons.
A portion of your money goes to 'trial and error'; you can try doing altcoins, contracts, or swing trading. This part of the money is used to pay tuition, helping you learn to respect the market.
As long as you are a newcomer, too many 'kind-hearted' people will message you, wanting to guide you.
Newbies are the most favored targets of scammers because they have many questions, and only scammers will patiently answer them. Scammers have the highest tolerance for them because they are fixated on their wallets from the start.
Some will directly lead you to play with low-quality coins, telling you about some coins; most of these are self-issued coins, and they have already formed a complete coin issuance assembly line.
Moreover, you might see a trading teacher showcasing contract earnings, and when you see others displaying returns of several times or dozens of times, you get excited and want to trade contracts.
Congratulations, you must spend a large sum on tuition in the contract.
Some scammers create paid contract groups, and when you ask, they might say $2000 a month to join the group, or $500 a month to join. Some may even say for a year.
When someone talks about spending a year in this, they are definitely a novice who has never played because no one stays in a contract group for a year without losing everything.
Additionally, some groups are free, but you must register with their invitation code, and you must have trading funds; they will verify your funds. Then they will show off, and you will be tempted to deposit and trade. Your trading fees will also have rebates.
This profit is essentially your trading fees; if the scammer is more unscrupulous, they might even lead you to lose money by joining small exchanges.
I previously read an article stating that an ordinary person needs at least three cycles of exploration to start making money.
In the first cycle, you watch various myths of getting rich quickly, entering the market with confidence, and those with high risk tolerance even borrow money. But in the end, you generally cannot hold onto your wealth and get taken away by various traps.
In the second cycle, you learn from the lessons of the previous cycle, mastering basic operations, understanding candlesticks, volume and price, and the basic rules of cycles. You learn to diversify your portfolio.
When the bull market arrives, you watch the coin prices soar with market sentiment, feeling incredibly excited as your positions start to double. You taste the sweetness of making money and believe it will continue because the market sentiment is still optimistic. However, the bear market comes unexpectedly, and since you haven't learned how to sell, you likely go through a roller coaster ride with the market.
It may take until the third cycle for you to learn how to make money in this market.
These three cycles are hard to violate unless you can work with experienced people, but that is very difficult.
The last portion of your money should be used for regular investments, or to participate in new projects, earn small profits, and arbitrage. This is where you start to make money.
The cryptocurrency world is indeed one of the most hopeful paths for ordinary people to turn their fortunes around, but it doesn't mean the process is smooth. The essence of life is ups and downs, with both gains and losses. What remains unchanged is continuous learning, filling in gaps in understanding, letting go of prejudices, and making money is just a matter of time.
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