Is it really that difficult to make a million in the cryptocurrency world? What are the ways?
When you are told to hold coins, buying any coin is all about luck. If you think you can win the lottery, then go ahead.
Let's talk about something more scientific, using contracts as an example, there are only two directions: going long or going short. You could just bring in an old lady or flip a coin infinitely, and you would still have a 50% chance of winning, there's nothing to refute there.
If you are willing to put in the effort to learn, spending half a year digesting most trading books and building your own trading system, can you increase your win rate by just 1%? Just 1%, no need for more. Then you would have a 51% win rate now, and if you strictly stop loss and take profit each time, you need to have a ratio of at least 1:1.5 each time, meaning if you lose 1 on a trade, you make 1.5 when you win. Over the long term, not counting fees, you only need a 40% win rate to ensure you neither lose nor gain. If you have a 50% win rate, you can achieve 50% profit after 100 trades, even if your win-loss ratio is 1:1, a 50% win rate will also mean no loss or gain. Taking 5-minute short trades as an example, there are many opportunities in a day. Let's assume you make 5 trades a day, that’s 50 trades in 10 days and 100 trades in 20 days. With a 1:1.5 win-loss ratio, the earnings after 20 days would reach 50%. Assuming you have 1000u, after 240 days of mechanical statistics, you could exceed 1 million. If the win-loss ratio is only 1:1 and the win rate is only 51%, then after 3 years your 1000u could turn into 1 million. Of course, those who know how wouldn't do trades with a 1:1 win-loss ratio. For contract trades, with a 1:1.5 win-loss ratio and a 50% win rate, 10x leverage has a liquidation risk of 0.8%. But if you add that extra 1% win rate you gained from hard work, there will be no liquidation risk, provided that you strictly stop profit and loss on every trade.
So work hard, study like you would for college entrance exams, and then do it scientifically and mechanically. Don’t be influenced by what others say; persistence in anything will yield results, and the same goes for the cryptocurrency world.
In the cryptocurrency world, if you don't have a good circle and no insider information, then I suggest you follow me, find me, and I will help you get on board without spending a dime. Welcome to join the team!!!
