What truly allows you to make money? This market has risen from 75k to the current 105k, and Ethereum is buzzing with activity. The 'thousand-u war gods' and 'hundred-u war gods' are emerging one after another.
In the several groups I joined, the most active ones this month are those who turned a few hundred dollars into tens of thousands or even hundreds of thousands. They started sharing content, analyzing the market, and presenting various theories, strategies, indicators, liquidation charts, and logic to explain how they achieved this.
Here, I won’t discuss whether these technical analyses and strategies are useful. As Arma puts it, "Everyone in the market goes through a process of faith, contempt, and understanding regarding technical indicators." Whether useful or not, what ultimately makes you money is not the so-called logic and technical analysis, but your actions.
Looking back at your trading behavior during profitable times, there must have been a firm commitment to holding on after entering at a significant expectation. Achieving this is not easy, but it’s not too difficult either. If you get in at the bottom or buy when it takes off, as long as you're not too inexperienced, you can win as the market lifts you.
However, to achieve substantial results, merely knowing and doing this is not enough; you must also understand what your favorable conditions are and patiently wait for them to arrive. This is quite challenging; just knowing your favorable conditions (circle of competence) is already not easy, and being patient is even harder. But only by doing both can you achieve great results.
For one time, it’s quite easy; hundreds of thousands is not a lot of money. For ordinary people, cashing out this amount to improve their lives is a better choice. To stay in this market, you must have the resolve to consistently do the right things for a lifetime and to avoid doing the wrong things for a lifetime, even though this is truly difficult to achieve.
The right things generally refer to those with very low risk and exceptionally high returns. There are many wrong things; don’t engage in what you don’t understand, and even for what you do understand, be cautious of insufficient returns, excessive risks, and poor cost-effectiveness.