To become a stable and profitable trader, you need to go through the following 5 stages:
1. Not knowing that trading is a professional and difficult thing.
This is the first stage when you start to engage in trading. You come in because you hear others say that you can make a lot of money by speculating in cryptocurrencies or you see others making a lot of money by speculating in cryptocurrencies. Many people enter the cryptocurrency circle because of this. Maybe when you first enter this market, it is a bull market, or you are lucky and find that it is easy to make money by trading. You can make a lot of money by going in and out every day. But once the bear market comes, you lose money when you are unlucky, and then you start to try to double your efforts. Sometimes you win back, but more often you find that you lose more. Or someone tells you to hold on to it and invest in value, but in the end you find that only one tenth of the principal is left.
2. Start to realize that making money from trading requires professional knowledge and skills, and you can’t just do it recklessly.
Since you lost a lot of money before, you reflect and realize that trading is a professional matter and you can't do it recklessly. Then:
1. You start looking for a bunch of professional trading books to read, or search the Internet for things you think are useful.
2. You start to learn various indicators and techniques, such as waves, entanglement theory, etc.
3. You start looking for various so-called gods on tradingview, Weibo, QQ groups, and WeChat groups, wanting to listen to their market analysis/trading opinions, hoping to learn how to trade profitably from them.
4. You start to consider other people’s “orders”, or buy some so-called trading indicators from masters, but in the end you find that these don’t work for you and you still don’t make any money.
5. You start looking for some masters and try to find profitable trading methods from their courses.
During these processes, you will still suffer losses, blow up your positions, and feel despair many times, but if you don’t give up, you will slowly begin to understand the essence of trading, and at some point you will suddenly enter the third stage. #BTC #ETH
