The term 'Unity of Knowledge and Action' may have become a cliché for many people. What does 'Unity of Knowledge and Action' mean? It seems difficult at first mention, and yes, it is very hard, but it can also be very simple, something you can do without even thinking. Personally, I find this term a bit contradictory. Let me give you an example: as a man, having an eight-pack abs and a perfect physique is quite nice, isn't it? There isn't a young girl who wouldn't like such a man, right? Okay, here comes the key point: to achieve such a physique, you only need to exercise every day, doing push-ups, sit-ups, or even hiring a fitness coach. If you persist like this, you can definitely achieve the desired results. It's simple, you know that, but when it comes to doing it, there are various reasons, like not having time, not being able to stick to it, or thinking it doesn't matter. Does it really not matter? Which man doesn't want a perfect body? A perfect physique is also healthier and more sustainable, haha, just kidding.
In fact, to sum it up, it's very difficult. It's just that contradictory. The contradiction lies in your understanding of the process. In the crypto world, the process is about controlling your hands, preserving your capital, waiting for the right moment to come, and waiting for the big trend to arrive, naturally soaring high.
Let's discuss 'Timing of Trading' again.
I know full-time crypto players from various sectors: those who fluff, arbitrage, engage in new projects, do contracts, and trade spot.
Without exception, most of the time every day is wasted; to put it nicely, it's waiting.
Fluffing. I know a guy in the crypto world who either gets hit back or gets manipulated by the project team. Sometimes he just enjoys a hearty meal, spending a lot of time and energy, and it's like this even on weekdays, let alone for personal time. Many big players mostly engage in public chain projects and must get involved. Whenever there's a new public chain project, they will pay attention and follow up immediately.
Arbitrage. The current crypto world is not like it was a few years ago when you could profit from manual arbitrage during large fluctuations. Now, manual arbitrage is also being phased out; it's all about technology. Nevertheless, you still have to wait for significant market fluctuations to have opportunities. In the past, anyone could easily find tutorials online and execute trades. Now, those who do arbitrage are mostly studios. Most of the time is also spent waiting for market fluctuations to open up.
New projects. This is something everyone usually participates in. As for those who specialize in this business, I haven't met any, but there should be some. Bulk account creation usually leads to profits. It's also within the goals of fluffing studios.
Contract trading. I’ll speak from my past experience. In a day with 24 hours, there were times I watched the market for 18 hours straight, or even stayed awake the whole day, and when trading, it only took a few minutes. Current professional contract traders indeed operate like this.
Spot trading. This requires even more waiting and is more tedious than the above methods. But the risk is the smallest, and the certainty is the highest.
In summary of the above five points, many veteran retail investors will earn a bit here and lose a bit there, just like that in the crypto world, day after day, year after year. It really doesn't have much meaning. In a bull market, spreading the risk is okay, but in a bear market, there are all kinds of knives waiting for you.
Wall Street will not change, human nature will not change. - Jesse Livermore
Yes, this world is fundamentally led by people, and the trading circle is a space that reflects human nature even more. As long as there are people, market cycles will continue one after another. Whenever I talk about when the bull market will start, someone inevitably asks, since everyone knows when the bull market will come, doesn't that mean everyone is making money? Haha, in reality, there’s a lot that everyone knows, and things that are not known can be asked or looked up online. If that were the case, everyone would know everything. So why are there still various class disparities? Unity of Knowledge and Action. It’s that simple.
Finished writing, that's a wrap!#ETH突破3000 #BTC再创新高