Because of human nature and gambling nature, most people cannot distinguish between gambling and speculation in their entire lives. They gamble their entire lives in a daze and end up with nothing.
The most important thing you need to know is that this is a purely speculative market, there is no investment.
Any money-making project follows the 80/20 rule: 2% of people make money, 8% of people make no money or lose money, and 90% of people lose money. So it is not important whether you share or not. What is important is that if you share with someone you don’t know how to do it, have no experience or ability, and still lose money, then you will be accused of cutting leeks. This is really not worth the loss.
During the three years of the pandemic, many people have gone bankrupt. I will only talk about my own experience, which can be used as a reference. I do not recommend blind imitation. Remember that there are risks in doing anything. If ordinary people want to make quick money, they must speculate, and speculation often involves high risks and can easily lead to bankruptcy. This may seem like a paradox, but it is actually a way for ordinary people to make money with a narrow escape.
Cryptocurrency contract trading is a tool for redistributing wealth, and it is a completely speculative financial market. You have to remember that this is a completely speculative market, there is no investment, and speculation is a test of human nature. Speculation is a life-or-death situation, and if you get carried away, you will die faster. Those who lose everything are unwilling to admit defeat, have a strong gambling nature, and insist on holding orders, and finally end up with explosions again and again, and fall into despair.
However, this is also a market that creates miracles. Profits of a hundred times or a thousand times can make people's adrenaline soar. Once you experience this kind of pleasure, it is difficult to quit. Therefore, trading speculation must have its own trading system and trading rhythm. At the same time, emotional stability is very important. Only by not being happy with things and not being sad with yourself can you go long-term. So it is not important what currency to buy, but when to buy and when to sell. You must think clearly about this.
I started trading contracts in 2018, and I lost more than 80 BTC in succession. I made all the mistakes I should have made, including heavy positions, overnight positions, and carrying orders. This is a market that eats people, but it is also a market that creates miracles. It is hard to describe the bitterness and tears along the way.
It took me nearly two years to really make my first pot of gold in the cryptocurrency circle. I started trading cryptocurrency contracts in 2018. I was fearless at the time. I lost more than 800,000 yuan in half a year by relying on my own strength. I was still working at that time. Although most of it was my own savings, I didn’t dare to let my family know because they didn’t understand and support me from the beginning. I think the most uncomfortable thing is not how much money I lost, but the feeling of loss. The negative emotions under long-term pressure make me depressed.
In the next more than a year, I continued to make profits and losses, but I became more and more familiar with the trend of Ethereum, and slowly formed my own trading sense and trading rhythm. Perhaps due to good luck, in the 20-year bull market, with the skyrocketing ether, my trading system has become increasingly mature, my intraday swing trading points have become more accurate, and my emotional control has also improved significantly. This year, in addition to making back the previous losses, I also earned an additional 800,000 U. Until now, my trading strategy has been to trade with 30,000 U, withdraw the currency when it doubles, and continue depositing and trading after taking a break to adjust. This is also a way of capital risk control. In terms of operation, we only trade within the day, not overnight, and never resist orders. We avoid encountering extremely large market conditions and go directly to the top.
After 20 years of full-time trading, I have a better understanding of this market. It is really a year in the world. The market rotates between long and short positions. As long as there is volatility and a certain band is made, you can make money regardless of whether you are long or short. So sometimes you should try to avoid interfering with the objective trend of the market with your subjective judgment, because there are too many subjective judgments. Once the market goes against the trend, it is easy to carry the order. So no matter how the market goes, just trade with the trend. In fact, there are infinite opportunities in the market. As long as you try to avoid repeating mistakes, such as carrying orders against the trend and holding heavy positions against the trend, you can keep your principal and make profits in the market.
In trading, we are not afraid of big fluctuations, because big fluctuations can generate trend opportunities; we are not afraid of small fluctuations, because small fluctuations can be accommodated by trends. What we are most afraid of is that our emotions keep changing with market fluctuations, and then we just step against all the rhythms for a period of time, which not only hurts money but also hurts our hearts.
Contract trading is a testing ground for human nature. Sometimes after multiple consecutive losses, it is easy to get carried away and take a heavy position or hold orders against the trend. These are mistakes made due to human nature.
Trading is often anti-human, and full-time trading requires overcoming more pain, misunderstanding, and loneliness. Also, don't deny yourself, slowly find your own trading rhythm, don't be whimsical when things go well, and don't belittle yourself when things go badly.
It has been six years since I started working in the cryptocurrency industry. I am still trading and making a profit, but my mindset has changed. I have become less concerned about many things, and I love life more and enjoy a simple life.
I need fans, you need references. It's better to pay attention than to guess.
