The root cause of losing money in the cryptocurrency space is that a person attempts to do something they are inherently incapable of.
This is obviously a correct yet meaningless statement, but it reveals the root of losing money.
First, the reason for not having the qualification for long-term holding is that the ability to make money outside the market is too weak.
Those with weak money-making abilities outside the market will treat a bull market in the cryptocurrency space as their last chance to get rich.
This is actually a reflection of one's lack of confidence in their own future.
Thus, they risk everything, but the market cannot be controlled by them; buying might lead to continuous declines.
When your cash flow for living runs out, you will sell at the bottom.
For those with strong money-making abilities, earning a million means buying 300,000 to 500,000 worth of assets. Their mindset is excellent; when the market falls, they see it as an opportunity to accumulate.
However, those who are good at making money often look down on the cryptocurrency space, and they are not willing to earn money from it.
When a person realizes their own abilities, they understand that earning tens of millions or hundreds of millions requires the power of the capital market.
They are willing to play in the cryptocurrency space, and after one cycle, their wealth at least triples. In the next cycle, it will basically be tenfold.
A 10x return is the starting point for changing one's social class.
The same strategy cannot be executed because of insufficient ability to make money outside the market.
People with strong abilities to make money outside the market will not bet everything at once; instead, they use this seemingly simple method.
They can also sell during a bull market because they have money; people with money can better restrain human desires. They won’t seek to sell at the highest, but instead deposit money in the bank for low-risk investment, and they won't aim to buy at the lowest, waiting for the next cycle's opportunity.
The root of their success lies in having money; money gives them a good mindset.
Let's talk about trading.
The vast majority of people are not qualified to trade, yet most of them choose this difficult and crowded path.
People enjoy trading because it is a quick way to make money and provides a sense of self-fulfillment.
Traders need to maintain a state of being withered like a dead tree and a heart like ashes. This is extremely, extremely difficult.
To restrain emotions, to view the market from an external perspective, knowing that it is useless; most people cannot do this, and achieving it requires going through massive gains followed by enormous losses to gain insight.
Reading a few books, taking some classes, relying on market news, playing with a demo account is absolutely impossible.
Don't be fooled by those showing off their earnings and returns. Very few people dare to show absolute values from start to finish in real trading; this is the noise of traders without confidence.
In fact, the market initially has no fluctuations; it is your heart that is moving. Most noise and emotions affect the market, and most people become noise traders who will soon be devoured by traders who are devoid of emotions.
A true trader stays away from market noise, believes only in themselves, and rarely takes action.
They hold cash most of the time, waiting for the big trend to arrive before building a position to confirm the facts. If the facts are wrong, they stop losses immediately. If the facts are right, they gradually increase their positions, waiting for dangerous signals from the market. They never fall in love with the trade or seek the last bit of profit; they understand that greed for the last profit this time will lead to even more greed for future profits, and eventually, they will drown themselves.
Just based on this, very few people can do it; trading is a life-or-death path, and there is no time to teach or guide others.
One must constantly guard against interference; sometimes after making money, it’s necessary to stay away from the market for a while, to travel and clear one’s mind.
They adjust their emotions to the optimal level and wait for the market to return; they will strike back with the best state.
Trading itself is an extremely difficult business; it is not a trick to get rich quickly, but rather something that requires accumulation day after day.
Trading is an extremely serious industry that requires diligent study, doing one’s best, mastering as much information as possible, and fully exploring all data.
Fools cannot do it, those too lazy to think cannot do it, those with unhealthy minds cannot do it, and those who seek to get rich overnight cannot do it either.
If these people take action, they will ultimately end up destitute.
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