You have to calculate the accounts when you trade in cryptocurrencies. Many people never understand it in their lifetime!
For example, if you have 1 million, you double your money to 2 million, then lose half of it, leaving 1 million. If you have 1 million, you lose half of it and leave 500,000, then earn half back and leave 750,000. If you have 1 million, it rises by 50% and then falls by 50%, still 750,000. This shows that you should not only look at making money when trading in cryptocurrencies, but also be prepared for losses! No matter how much you make in the short term, it will be all over if it falls.
1 million makes a steady profit of 30% every year, 1.3 million a year, 1.69 million in two years. Like Buffett, becoming a stock god is not about making big money in the short term, but about making steady profits in the long term. It is not difficult to make 20% a year, but can you make it for five or ten years in a row? So you have to keep a steady mind when trading in cryptocurrencies, don't think about getting rich overnight, compound interest is powerful. Position management is important, don't invest all, leave room to control risks.
In short, you have to calculate the accounts when trading in cryptocurrencies, don't be confused by the rise and fall. If you have no direction in the cryptocurrency circle and don’t know what coin to buy, please find me on the top of my page and share information and strategies for free!
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