Cognition Determines Everything! [Very Important]
The cryptocurrency world is a place where the poor get poorer, and the rich get richer. There aren't as many tales of sudden wealth, nor are there as many newly rich individuals.
A rich person has 100 million, and if they only take the spot market, with a 20% profit, they can exit with a guaranteed 20 million. If there isn't a 20% profit, they will hold on tightly without letting go.
A poor person only has 100,000. Even if they take the spot market with a 20% profit, they only make 20,000, which isn't enough for living expenses. So they have to play with leverage, treating 100,000 as if it were 1 million.
With a 20% profit in this scenario, they could make 200,000, but the reality is much harsher; it usually ends in liquidation.
Some poor individuals have heard various legends of making big gains with small efforts, so they invest their money in risky ventures, ultimately 99.9999% also leading to a dead end. The real 0.0001% that survives is uncertain whether they are real people or just insider trading by project parties.
Thus, only mainstream spot trading can yield profits. As long as one persists without taking profits, they will eventually make money. Then with compound interest, substantial investments aren't even necessary; the power of compounding is infinite.
In fact, cultivating good trading habits and mindset, firmly controlling one's desires and emotions, is more important than how much money one makes.
If you enjoy contracts, like to study the market, and research techniques, click on my avatar. I have years of experience and skills in the cryptocurrency world to share without charge. I’m waiting for you in the circle, always online, welcome to discuss and progress together.