First, let’s talk about the most important issue: people are emotional. Especially when it comes to profit, they tend to take profits quickly when they make some money, fearing a pullback; yet when they’re losing, they hold on, thinking it will come back if they endure a little longer, until they face liquidation. This is a common human behavior and is not surprising, which is why professional traders exist—to help you regain your rationality. Of course, those who only tell you to hold on are an exception.
Next is the issue of position management. First, when trading with Dan, you should consider a question: What is the maximum loss you can accept? Understand this question before deciding how large of a position to take and where to set your stop-loss. Once you understand these issues, you won’t need to make other operations when trading with Dan; if you hit your stop-loss, just reorganize and trade again. If you can do this, you should do quite well.
Also, regarding the issue with Dan, some people think that if they make a mistake with Dan at the beginning, it means their skills are lacking. What everyone needs to understand is that working with Dan is just utilizing more specialized knowledge and experience in this circle to analyze how the market will move, and then doing good risk management to minimize risks as much as possible. No one can guarantee complete accuracy; even if you seek out CZ or Soros, can they guarantee profits all the time? To put it bluntly, those who claim to guarantee no losses are just boasting.
I believe many people have experienced what I mentioned above and can relate. Those who become rich overnight are either very lucky or have risked everything multiple times. Of course, this is all high risk. If you can't accept high risk, you must trade time for money. Working in a factory is exhausting, and earning two to three hundred a day is common. So why do you think earning seven or eight hundred while lying down is too little and want to earn more?
These are the issues that one must face when entering the cryptocurrency space. If you can't control your desire to make money, it becomes very difficult. This is why the 80/20 rule exists; it's because there are few people who can control their impulses. If you can't control yourself, you need to find a suitable mentor to help you balance things out, so you can be part of the 20 instead of the 80.
Of course, what I’m saying is not comprehensive; there are still many issues that need to be resolved during the trading process. I’m just highlighting the most important problems, hoping it will be of some help to everyone.
I hope everyone can make money in this circle, and we can meet at the peak then!
