Before I start the article, let me first say that it’s best not to touch new coins. If you do touch them, don’t be too picky and hold on to them without wanting to sell them.
This is the advice from an old-timer who has been engaged in cryptocurrency trading for many years. Believe it or not, I just admit one thing: out of a hundred new coins, not even one new elite can emerge!
Some people were not convinced and said, Mo Xiao, I copied a certain new currency and made N times the money.
But I want to say that once you have tasted the sweetness of making money with new coins, you will think that the rise of the big currency has no appeal to you. Once you form this idea, you will fall into an infinite cycle of exchanging positions for new coins/new coins. You make money on this coin and lose money on the next coin, and the profit and loss switch back and forth. In the end, all the wealth accumulated with great difficulty is lost on a certain local dog coin.
Let me give you an example, and you can see if this makes sense. Take luna for example. How many people have made a fortune with this coin? But how many people will wait for luna to return to zero and use their entire net worth to bet on a rebound?
What's the final result?
What a loss!
And it was a huge loss, a huge loss, not a penny left! ! ! !
Some people have been cautious in cryptocurrency trading for countless years, but finally lost everything in this coin.
Some people gambled their lives and property, and now the grass on their graves is two meters high.
Remember, as long as you keep playing with local dogs, no matter whether you are currently profitable or not, if you hold the position to the end, you are bound to lose a lot of money! ! ! !
Don't argue here and say that didn't CZ@CZ also stake his entire fortune to get his current position?
There is no comparison, my friend. Can the general environment at that time be compared with the current environment?
If CZ was a small retail investor, and he used all his fortune that he had bet on Bitcoin to bet on a single local coin today, the probability of his failure would be quite high.
Bitcoin was the first narrative product of the crypto market. At that time, there was only one cryptocurrency, and that was Bitcoin.
What now?
There are now countless types of cryptocurrencies, and any local project or exchange can do whatever they want.
Good project coins have value, but there is more than one project team, right? In the future, no one can say for sure that there will be a better project team to do the narrative of the same project. So, at that time, will this coin still have room for value growth?
Just like DASH, Dash is an old coin, it is a crypto product from almost the same period as Bitcoin, and it is also the leader of cryptocurrencies. What is its current price?
Those who believed that DASH would surpass BTC back then are probably regretting their decision now. In the same period of time and facing the same good opportunity, some people chose DASH and replaced their BTC.
It is also better not to touch the primary market, and buy fewer new stocks. If you have the courage to go all-in in the market, you might as well study how to play contracts well. At least after each liquidation, it will give you a different spiritual shock, thus refreshing your trading cognition and sublimating your soul. ———————Limited position is your first step towards success——————
Also, you must have your own understanding when trading in cryptocurrencies. You must conduct model transactions based on your own understanding, whether you are playing contracts, options, or spot trading. If you can realize your dream of becoming rich by just joining a community and getting to know a teacher, then these teachers will not care about your tuition fees. With this trading technology and the ability to control the direction of the transaction, I am afraid they would have already reached the level of bigwigs in Asset A10. Who would bother to do community promotion? Who would stay up late to sell courses to make a living? Who would chat with you all the time just to care about this tuition fee?
Isn't it for the sake of making yourself live better and making your assets more stable? Take yourself for example, if you can make money by talking, would you still invest money? If you can earn a stable income with your own experience, would you still care about some small profits from the outside world? If you don't live a good life and enjoy a massage after you have money, and you hurt yourself and work hard for this little money, isn't it just a mental illness?
Why do we say that we should trade with our own knowledge, instead of advocating that everyone take shortcuts? Because when you trade with your own knowledge, the trading experience you gain is yours and will really help you. These experiences, whether they are failed trading experiences or successful trading experiences, are so precious and are the important cornerstones for your future success.
Take the first generation of veteran traders since the birth of the trading market, the famous American trading master "Edwin Lefevre", for example. He also had his positions blown up. Let me tell you, it happened more than once. Can you believe it?
If he also takes shortcuts, listens to others' opinions on all transactions, and gives his money to people he thinks can make money for him, will he ever be able to make a comeback through trading?
This is the spiritual answer I give to myself and everyone. Let us encourage each other and keep it in mind!
At the end of the article, I would like to say something to anyone who is currently trading or is about to get involved in trading.
“Don’t be afraid of failure or liquidation. Be brave enough to face your own shortcomings. Be optimistic. Look at the market trend objectively and don’t get caught up in it. Do less ultra-short-term orders and study more trend orders. Once you have determined the direction, hold on to it indefinitely until you feel that the profit is good.”
If a certain transaction causes you to suffer serious losses, if a certain transaction makes you emotionally unstable and irritable while holding a position, then you have to stop and carefully examine yourself, and reflect on yourself after the transaction.
"The direction is right, but there is a serious floating loss. Is it because of blindly entering the market this time? I am very irritated. Is it because of too much leverage? I started to make a good profit, but then slowly started to give it back, and finally the floating profit went to liquidation. Is this situation caused by my greed? Am I too blindly convinced of the trend I studied? And so on. Some soul-to-heart conversations."
“If I know the problems next time I make a trade, can I avoid them?”
"I have now realized where my trading failed. Can I strictly implement the iron rule of "I think and do it"?"
When trading, have more spiritual conversations and reflect more. This is something every trader must do before achieving success. It is not shameful. All the excellent people have gone through this process. The fact that you can think of these questions proves that your thinking has begun to move upward.
If a certain transaction gives you the probability of making a big profit but you cannot bear the profit drawdown and sell it out, you have to reflect on this once this happens.
"Am I too concerned about the gains and losses in front of me? Am I too concerned about the price fluctuations in the market? And other spiritual questions?"
In fact, when you get to the end of trading, you will find that it is very simple. What is difficult about trading? It is just a pure game of game between people.
In order to defeat the opponent and achieve substantial goals, any dirty tricks and scams can be used. As the saying goes, "All is fair in war."
If I improve a little more, I can beat people who are one point weaker than me or at the same level as me, and I can lead them.
In the game of trading, if we are less blindly confident and more cautious, we can make a living from this game.
Outside of the trading game, if we are more content and less greedy, our lives will be more fulfilling than those of most people.
——————————Finally, I wish you all great fortune! ————@币安广场 #币安用户数突破2亿 #币安合约锦标赛
