A person can only make money in a bull market through three bull markets.
Recognize this market through a bull market, understand yourself through a bull market, and finally understand the trade-offs between yourself and the market through a bull market.
Leeks are inherently leeks; the money brought by the strong winds will ultimately be blown away.
Later, in the crypto circle from 2017 to 2019, I was initially doing well with spot trading in 2017, but unfortunately fell into high leverage contracts and options. The forms of loss became richer, but the result was the same: ultimately, I ended up with nothing.
If it is said that not being able to make money in the end is because making money is not sustainable.
The one-dimensional reason for selling, while losing money in the crypto space is due to multi-dimensional reasons, frequent switching between long and short in a bull market, playing wildly with high leverage, and buying options recklessly, living dangerously.
So when the bull market of 2020 arrived, I learned my lesson and eliminated high leverage, avoided options, and learned to earn while selling. Many newcomers didn't understand why I repeatedly emphasized avoiding contracts, and that profits must be withdrawn until they encountered the event on May 19.
In the past two days, the price of Bitcoin has fluctuated back and forth. As for the contract traders, there’s no need to mention it; when the price rebounded, their positions disappeared. Here, I want to tell the spot traders that many spot traders have been feeling smug these days saying: 'Expert, look, my strategy of pretending to be dead has succeeded again.'
But in reality, this belongs to a lucky mentality, and one day, you will encounter a bear market, where the market falls every day, and eventually, you will end up with nothing.
In 2018, the market fell all year, and many spot traders left the market in tears. In 2020's bull market, many new traders had never experienced a total loss, which created a misconception that lying flat and pretending to be dead was an invincible move.
Some people say that in a bear market, you can short. Let's not consider how you know it's a bear market, just like you don't know if it's still a bull market now. Even if you guessed correctly, I shorted every day in 2018, yet I was still the most comfortable bear. After shorting for nearly a whole year, I developed a habitual mindset, and by the first quarter of 2019, I was still shorting, ultimately leading to liquidation and ending up with nothing.
For most people, contracts: making money is just a process, while going to zero is the end. More people, after touching it, are on a long fantasy road to break even. Remember, it's just a fantasy.
Remove high leverage, remove frequent trading, learn to earn some money, and never recharge after running away. Cherish the bull market that heaven has sent you. Most people do not earn money through their own abilities, but rather passively become wealthy during this Kondratiev wave cycle.
So you must recognize which money is earned within your cognitive ability, and never lose it outside of that understanding. Many people spend their whole lives without recognizing this world and understanding themselves.
I hope that after sharing my experiences and lessons, you can hold on to the money that comes with the strong winds. If the money brought by the strong winds is not properly managed, it will ultimately be blown away by the wind.
