Ten Honest Truths for Newcomers in the Cryptocurrency World!
1️⃣ The cryptocurrency market is no longer the place where you can make big money just by casually buying coins. Don’t think that just by finding a random coin you can multiply your investment by dozens or even hundreds of times; such opportunities are very rare now.
2️⃣ The first-tier market sounds appealing for new investments with high returns, but you must know that 99% of projects will ultimately turn to zero. Even if listed on small exchanges, those internet celebrities may urge you to hold on while they quietly retreat.
3️⃣ Playing contracts with all your funds and high leverage sounds thrilling and profits might come quickly, but losses can come even faster. The essence of trading is steadily building wealth like a snowball, not obsessing over how much you made on a single trade.
4️⃣ Whether you are a student or a young person, focusing on your studies, self-improvement, and stable income is the right path; trading should only be a side hustle. Trading is not a game for getting rich overnight; it requires time and patience.
5️⃣ Wealth and fortune will not easily come to those who are unprepared and lack virtue. When trading, don’t get overly proud when you make gains, and don’t blame yourself excessively when you lose. Profits and losses are normal in the market; learn to reflect and summarize.
6️⃣ Those who flaunt their holdings and profits may have only made gains on a single trade; be careful and observe the daily trades closely, so you don’t inadvertently follow some so-called perpetual profit master!
7️⃣ Contracts are a double-edged sword; 80% of people who trade contracts will lose everything. Human desire is an insatiable abyss, and few can truly quit gambling and trade rationally. Just one loss of control can wipe out all previous gains and capital.
8️⃣ If you want to make money from trading, you need to have your own judgment and not just follow others. You can listen to others' experiences, but you must develop a money-making strategy that suits you.
9️⃣ Talk to experienced traders in the cryptocurrency world, even if they have been trading for years and are still losing money. From them, you can learn many reasons for losses and avoid making their mistakes. You might find that making money is actually quite simple if you approach it differently.
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