1. Go to work: The monthly trading success rate is extremely high, and the profit and loss ratio is extremely low. It is similar to making money. The harder you work, the more you earn. Luck has a very low influence in this field, and choice is not as important as hard work.
2. Entrepreneurship: The winning rate is extremely low, but the profit-loss ratio is extremely high. It is similar to borrowing money with 100X leverage to play MEME coins. If you lose, you will go bankrupt, but if you win (get acquired or go public), you can directly achieve financial freedom. Luck has a high weight in this field, and hard work is often not as important as choice;
3. Small business, self-media, kol: The winning rate is medium and the profit and loss ratio is very poor, but the advantage is that it has a long tail and compound interest effect, similar to arbitrage or OTC merchants. If you can persist for a long time and accumulate more and more word-of-mouth and users, then the profit and loss ratio and winning rate will slowly increase. Luck is as important as hard work in this field. You must not only choose the right track, but also redouble your efforts.
4. Trading: The winning rate is unstable, the profit and loss ratio is unstable, luck is far more important than hard work. In essence, it is similar to starting a business with a small amount of money. If you use all your assets to trade, then it is exactly the same as starting a business, 99 deaths and 1 life. This field is where the "survivor effect" is most obvious.
Summary: Choosing to work, run a small business, or become a self-media or KOL is a suitable choice for ordinary people. Even if you are unlucky, as long as you work hard and persist, you can get a return close to what you put in.
Starting a business or trading full-time is a high-risk industry with unstable returns. If you can control the risks, such as participating in the early stages of a startup but not going all in, or using your own small amount of money to trade, then as time accumulates, the returns with a high profit-loss ratio will eventually fall on you, provided that you can tolerate multiple failures.
Looking back, some VCs only invest in angel rounds, and some traders only go all in 1000u for a project. In essence, they are using a large number of failure cases to exchange for a high return. Investing in 100 startups will fail in 99 cases, but one of them will successfully complete multiple rounds of financing and finally go public. The 10% stake obtained by the early angel investors can bring more than 100 times the return.
As for speculating in MEME and Tugou altcoins, each with a maximum of 1,000U, even if 99 of them return to zero, the loss will be less than 100,000. However, as long as a coin that increases by 100 times or 1,000 times appears and erases 4 to 5 zeros in a row, it can bring a profit of 100,000 to 1,000,000.
And in these processes, luck can greatly change the winning rate.
So, if you think you have always been lucky, then control the risk and do things with a low winning rate but a very high profit-loss ratio, and keep doing it until you win. If you think you have always been unlucky, then do things with a high winning rate, a very low profit-loss ratio but a cumulative effect, and keep doing it until the scale expands.
To achieve these successes, the only key qualities that remain unchanged are:
persist in!
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