Let me talk about myself first
Thinking back to my past, I was determined to win every time I entered the market, determined to create a career with 2-3 thousand yuan, but things did not go as I wished. The stronger my desire to make money, the faster the funds in my account returned to zero. I couldn't help but ask myself, "Am I not this rare talent among thousands?"
Maybe everyone has heard these stories more or less⬇️
Xiaoxia entered the market with 2,000 yuan in 2017, and his assets exceeded 10 million in two or three years; Liangxi rolled over contracts with 1,000 yuan, and his assets exceeded 10 million at most; Bithuang rolled over 20 million yuan with 2,000 yuan, and according to his own Weibo, he only took 5 days to get his third (I forgot whether it was the third or fourth) 10 million...
The stories of farmers who have risen up and are singing make my blood boil. I imagine that I am one of those rare geniuses and that I can become a trader worth tens of millions in one fell swoop.
But is this really the case? Obviously not.
The stories we see are not as glamorous as we see them. There is a saying that is really true: "You can't make money beyond your cognition." Xiaobai asked this question, which shows that it is indeed difficult to do such a thing with your own cognition and ability, and you are very eager to complete it. The more urgent you are, the more you should slow down and learn. Blindly entering the market will only result in zero. The only thing that can support you to survive in this market and make money is your own cognition and rationality. Behind those glamorous stories are sleepless nights, hard learning, countless losses, countless efforts in vain, and subversion of your own cognition again and again...
In short, there is no quick secret for anything. You may think I am talking nonsense. There are so many people who have become rich overnight in this circle. Can't I make more than 100,000 yuan? It is indeed not difficult to make 100,000 yuan in this circle. You only need 20 times the principal of 5,000 yuan. Just buy a 20-fold coin or short it and get a 20-fold coin. Even if you really buy it, it will take at least a year to wait for it to double 20 times, and you may not be able to hold it.
I still remember there was a coin called Eos. In 20-21, a lot of people came out and formed social groups. They kept instilling an idea into these silly dogs and leeks: "EOS is the next hundred-fold coin, thousand-fold coin, and ten-thousand-fold coin." Double the currency, punch Ethereum, and kick any public chain." At that time, each one was 2-4 US dollars, and the price dropped a few percent. People in the community were all "stud, stud, full warehouse, stud, if you miss the callback, there will be no place on the car. , Wealth and wealth are sought in danger..." and other such voices, and some even asked for money or houses to be sold to support his so-called beliefs. I didn't have much money at the time, so I didn't buy it. Finally, under the unbreakable faith of these leeks, the price once stood at more than ten dollars under the 21-year bull market. As expected, an accident happened. Everyone was given a shot, and the worst person died. Being hung on a needle. Now it's $1 each. Two days ago, I saw on vb that a influencer who was placing orders posted her Binance account balance. Well, it was more than a thousand BTC...
In this story, everyone except the leeks made a lot of money. You may have also discovered that some people make money, that is, those who think about danger in the bull market. There are very few such people. Human nature is greedy. They don't sell when the market goes high, thinking there will be new highs. They will increase their positions and work hard when the market falls back. After all, there are too many myths here. But those who lose money have one thing in common: they don't learn, rely on others to recharge their faith, and seek psychological comfort on their own.
Imagine if you don't know anything, and just listen to the project owners and KOLs' exaggerations, "I have such and such technology, I am a blockchain revolution..." and then rush in. What's the difference between that and giving money away? In essence, the current cryptocurrency market is all hype. 75% of the currencies will eventually fall into decline and return to zero, and 20% will return to zero directly after the leeks are harvested. If you don't have a certain level of knowledge and sufficient rationality to invest in new coins, it is really difficult to make money.
The above is a story about spot trading. Now let’s talk about contracts. This is something that so-called value investors sneer at, but it has made many people rich overnight.
The people mentioned at the beginning of the article all started out as contract traders, and many of them have kept their hard-earned wealth. The basic knowledge about contracts is in another answer on my homepage. If you are interested, you can go and have a look.
I first came into contact with contracts at the end of 2018. I was about to turn 17 at the time. By chance, I met a teacher who led orders. He said he had five or six years of experience in traditional futures. I rushed a few hundred yuan and followed him. He used Tencent Conference to lead orders for short-term trading, using 50 times leverage. The winning rate might be around 60%. Because I only had a few hundred yuan in capital, I couldn’t open many positions at a time according to his instructions. So I went all-in every time, and my income doubled in the first week. The good times didn’t last long, because I went all-in every time. Once I forgot to set a stop loss and went bankrupt directly. That was my first time to go bankrupt, and more than a thousand yuan was gone. I regretted not doing what he said, but that would be too slow for me to make money. Rather than regretting, I blamed myself more for using my own money to listen to other people’s operations.
So I started to learn, buy books, learn candlestick charts and various indicators. This time I was full of confidence, as if living by trading and even financial freedom were within reach. After the Chinese New Year, I recharged all my New Year's money into it, 5,000 yuan in total, and I was determined to make a lot of money with my own strength. At that time, acupuncture was not as frequent as it is now. With my self-proclaimed professional knowledge and the purpose of seeking wealth and honor in danger, my principal quadrupled in a week. This made me full of confidence. I felt that I was a genius and was born to eat this bowl of rice. Within a few days, the news of the epidemic began to spread, but I didn't care. Staying at home didn't affect my making money anyway. In this way, I studied and made orders at the same time, often watching the market until late at night. During this period, there were gains and losses. Generally, if there is no accident at this time, there will be an accident. 312 is here. This day that everyone in the currency circle remembers, my long order was blown up as expected. Because there was a precedent, I only opened a half-position long order before that, and lost more than 10,000 yuan. I couldn't accept it at once. Looking at the only more than 10,000 yuan left on the account, I believe it is not a problem for me to make it back. Looking at the market, I felt that the price couldn't fall any further, so I stayed up until seven in the morning, and when the daily line was about to close, I went long with a full position, and set the take-profit point directly at 10,000 points. I was mysteriously confident in this order, and fell asleep as soon as I entered the market, planning to collect the money when I woke up. I was so happy.
When I woke up, I saw a forced liquidation message from Huobi. I opened the app and saw that I had only 21 cents left. My world collapsed in an instant. I uninstalled all the market software in anger. My dream of financial freedom became a bubble...
Not long after, I downloaded those software again. To be honest, once I entered this market, I didn’t want to leave. Besides, I haven’t made any money yet… I remembered what a philosopher said, “I could have endured the darkness if I had never seen the light.” Yes, the chances for an ordinary person to turn things around are pitifully small, and even if they come, they may not be able to grasp them. Although this market is dangerous, who can resist the dream of wealth and freedom that seems to be just around the corner?
I did not enter the market during the following period because I had no funds and I could only stay at home due to the epidemic control. Besides taking online classes, I read books such as Futures Trading Guide, Volume and Price Analysis, Wave Theory... Anyway, I read whatever I thought was useful.
A few months later, I started to study the white paper of the project and read books related to blockchain technology, thinking that I could also find a coin that can increase by 100 times. (Because I had to study and the funds were not abundant, I thought of finding a coin that can increase by 100 times with small investment and less trouble) This process was really like looking for a needle in a haystack. Fortunately, hard work pays off. After my "careful selection", I found it. (Don't ask why I put it in quotation marks, because I want to laugh when I think about it now) This coin is called YAS. Coconut is also a public chain. At that time, it was only two or three cents. I don’t remember what the white paper said very clearly, anyway, I was very optimistic at that time. In addition, there was a blockchain god in the community who recharged my faith every day, so I put all the 1,000 yuan I saved by frugality into it. Well, as you can imagine... As expected, there was still an accident...
Later, I embarked on the path of contract trading. In the past few years, I entered the market with a few thousand yuan each time. In the end, I had my positions liquidated dozens of times, if not hundreds of times. I could make money in the beginning, but I would always lose the money due to a sudden blow when I was greedy.
Later, I gradually understood that "wealth and honor are sought in danger" also has the next sentence "they are also lost in danger". Some people also told me that I should be brave but poor in skills, but my experience tells me that the old saying of "knowledge and courage" is right. Only with sufficient cognition and knowledge can you be confident in your own judgment, and then your courage will bring positive output.
I'm not saying that you can't make 100,000 with 5,000. I just want to say that it's not as easy as you think. Even if you have the ability, you have to believe that "luck is the key to success".
If you have a lot of pressure in life, such as paying off debts, loans, etc., I suggest you spend the 5,000 yuan on your life first. Save some money and try to buy some spot goods before the next bull market starts.
If you don't have much pressure in life and want to give it a try, I think it's okay. Anyway, don't have the idea of using 5,000 to quickly make 100,000. Although it's not much, you should be prepared to lose all your capital (unless you are strong, courageous, and lucky enough).
My personal advice is to take it slow, because what comes quickly goes quickly. Real wealth is accumulated slowly based on one’s character and experience. In this process, one must continue to learn, constantly improve one’s knowledge and accumulate experience. Here are a few of my personal suggestions:
1. Develop the habit of reading. (Economics books, psychology books, autobiographies of famous people in financial history, etc., whatever you think is useful, read it.) It does not mean that you can make money by reading books and copying what is in the books. Reading books is to input information for yourself and think about it, which can really bring you benefits.
2. It is recommended to understand K-line technical indicators. You can use them, but you must understand them. Although many people advocate the uselessness of K-line, I personally think that is only for short-term traders.
3. Protect your capital. Any transaction that does not result in a loss is a good transaction, and if it is profitable, then it is an excellent transaction.
4. Don’t make a contract. If you insist on doing it, you can read my previous article. I have my own insights. I hope it can help you.
5. Remember the third rule.
8 years of deep cultivation in the cryptocurrency circle, welcome to consult, main Ye Jincun $BTC $ETH #比特币减半 #WIF #Meme