Newbies in the cryptocurrency space must change their mindset, find a good teacher, and settle down to learn; the return on investment in learning is the highest. It’s important to know that we are entering the capital market, where there are no relatives or friends, only truths and falsehoods... Surviving wholeheartedly in the crypto space for 10 years is not worse than attending a well-known university.
After nine years of trading, with an initial investment of 30,000, I now have over 40 million, only trading spot, not contracts. Although I am not like some who turn 10,000 into two small goals, I am already very content, stable, and secure, dreaming that by the end of this year my account can exceed 60 million, and next year I will have more capital to earn more money.
It's crucial to maintain a good mindset when trading; during big drops, don’t let your blood pressure spike, and during big rises, don’t get carried away; securing profits is paramount. In the beginning, I used to worry so much that I couldn’t sleep well and would often wake up at night, but now I am much more calm.
My experience suggests that to make money in the crypto space, consider these points:
1. Cognitive Difference: With a higher cognitive level, you can make money. For example, when someone trades Doge at lunch, it’s not because they draw lines better than others, but because their cognitive level is higher, and their understanding of investment is several tiers above most people. You can see that their predictions about Doge months ago were the main driving force behind this round of Doge’s rise. Or take Tony, who has a better understanding of trading than others, allowing him to earn a lot of money through trading.
2. Information Difference: This mainly manifests in some new narratives and high-odds plays that appear early on, such as mining and selling, or getting in early compared to others, allowing for decent returns. As for how to gain an information advantage, it’s a longer topic; it has been discussed in past Weibo posts. Those who are interested can find it.
3. Execution Difference: Either you work hard or you have the skills. When there’s no cognitive or information difference, what separates the average person’s earnings is execution difference. If you work hard or have skills, you can also make money. For example, being aggressive in trading, bulk trading, creating tools, etc. Teachers like Wang, the director, He Bi, and those playing with NFTs, along with several selling or using tools, are all typical examples.
These three factors are foundational and can combine like building blocks: cognitive difference combined with execution difference, information difference combined with execution difference, etc. #BinanceBlockchainWeek
