As we have seen the recent activity in the market, we see huge liquidation, even the biggest yet around 1.7 billion dollars, soo many people loose their hard earned money, even people were also saying about leave trading.
First let’s talk why we started trading, for sure we thought to make our life better, make some extra for our dreams of having better life style.
But why did we choose crypto for this ?
Because of dynamic growth? New opportunities everyday and we herd new of people becoming millionaires by investing 50$ or 100$ and we also want to become one of them and we know this will be done with everything (knowledge, research, time, execution,etc) but also LUCK! Also we think , for greater reward we need to take greater risk!
And here we go we become greedy, uncaring, ill knowledgeable, and start ignoring facts and just think next time we will achieve something, and we just go on! We end up loosing much more than we can actually afford and we just think 1 day it all will be good we will be back on our track and it never happened.
To understand this we should also think why institutions and big people and whales and funds managers, why these are joining crypto? What is their reason? Do they have also dreams like us or they already on a better path and they finding just comparatively more, they also greed but they didn’t loose like us, because they know how much they can make and loose , they know they cannot make 5000x returns in 1 month and they didn’t aim for it!
So how we suppose to trade or even think for our better, I suggest we should always know before investing that how much we can afford to loose and practically what we can achieve from trading. By means we should have set of rules and goals for trading and only and only discipline can help us grow.
Never think quickly we can achieve anything and by that mindset it will remain with us, I did make 180 dollars from 1 dollar from future trading with only 125x in 36 hours and I loose everything in the end means in next 2 hours, soo I just practically just exhausted myself with worst mindset and strategy and daydreaming!
I think we should do trading mostly for spot and some part of it in futures but never with more than 15x leverage, 15 also when we have good research. 80-20 rule can apply here. So no matter market crash 10-20 percent we still survive. And if we want to make money, THE NUMBER ONE RULE US BE ALWAYS IN MONEY💰 !
I think you can relate with most of my thoughts let me know your experiences!