How difficult is it to get rich by trading cryptocurrencies?
A picture solves it
Stop-loss: No matter how many times you make a profit or endure losses, just one trend can completely wipe you out
No heavy positions allowed: The heavier the position, the closer the forced liquidation, unable to withstand fluctuations; unless you're exceptionally lucky, one trade can blow you up
Proper capital allocation: Don't put all your eggs in one basket; otherwise, you won't even have the opportunity to recover and learn from your mistakes, so what are you talking about a comeback
No frequent trading allowed: Going back and forth between long and short positions, sooner or later, you'll be finished; it's a simple truth
Maintain a good mindset: Your mindset determines the life or death of your trades; there are no trades that earn money immediately; set your stop-loss within an acceptable range and respond with a calm state
Everyone may understand the reasoning, but few can actually do it; otherwise, there wouldn't be so many people getting liquidated during major market fluctuations. If you understand it clearly and can comprehend it, but just can’t execute it, I will guide you step by step; you can trust me with the backend, just focus on execution.