LIVECrypto_Sophia
@Crypto_Sophia
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A Simple Guide to Recent Bitcoin Layer 1 Protocols: Ordinals, BRC-20, Atomicals, and Runes
Are you feeling overwhelmed by the recent surge of terms like Ordinals, BRC-20, Atomicals, and Pipe in the crypto space? If so, don't worry—I'm here to help unravel the timeline and connections between them in a way that even your grandma can understand. Let's break it down without diving too deep into complex concepts.
Chapter I: The Genesis of Ordinals and BRC-20
In December 2022, Casey Rodarmor introduced the Ordinals protocol. It assigned a unique sequence number to each Satoshi, allowing anyone to attach additional data to transactions, such as text, images, or videos. Initially used for creating NFTs, Ordinals gained traction.
In March 2023, an anonymous developer named @domodata introduced BRC-20, a protocol based on Ordinals. This brought a wave of token creation on Bitcoin, causing some tension in the community. The success of BRC-20 overshadowed Ordinals' original purpose of preserving eternal things on the Bitcoin blockchain.
Conclusion 1: In the $Ordi token launch, Casey didn't hold any coins, while @domo reportedly held 1000. Their interaction during an event in Singapore appeared friendly.
Chapter II: Enter Beny with LooksOrdinal, $Trac, and Tap Protocol
Developer Beny became active in the community, creating LooksOrdinal, $Trac, and introducing Tap Protocol, improving the BRC-20 standard. His projects formed an intricate governance structure, with $Trac and $-Tap acting as governance tokens for various protocols.
Conclusion 2: Beny's three projects with intertwined governance mechanisms are a unique approach in the L1 space.
Chapter III: Atomicals Protocol Shines
About three months after Ordinals, an anonymous developer introduced Atomicals Protocol in September 2023. It leverages BTC's UTXO for forging and propagating tokens, aligning more with Bitcoin's principles. Atomicals introduced $Atom, a token mined through CPU mining, adding a technical barrier.
Conclusion 3: Atomicals, developed over six months, emerged as a robust competitor to Ordinals, gaining significant community attention.
Chapter IV: Casey's Response - The Runes Protocol
Casey, not content with BRC-20's impact on Ordinals, introduced the Runes protocol. It aims to create a homogeneous token protocol for Bitcoin, emphasizing UTXO technology. Runes, yet to be officially released, promises to bring additional revenue and developers to the Bitcoin ecosystem.
Conclusion 4: Once Casey releases Runes, it's likely to attract substantial market attention.
In summary, the past six months have witnessed a proliferation of new protocols on Bitcoin. Each protocol brings its unique features and governance mechanisms, contributing to the evolving landscape of Bitcoin's Layer 1 ecosystem.
Chapter I: The Genesis of Ordinals and BRC-20
In December 2022, Casey Rodarmor introduced the Ordinals protocol. It assigned a unique sequence number to each Satoshi, allowing anyone to attach additional data to transactions, such as text, images, or videos. Initially used for creating NFTs, Ordinals gained traction.
In March 2023, an anonymous developer named @domodata introduced BRC-20, a protocol based on Ordinals. This brought a wave of token creation on Bitcoin, causing some tension in the community. The success of BRC-20 overshadowed Ordinals' original purpose of preserving eternal things on the Bitcoin blockchain.
Conclusion 1: In the $Ordi token launch, Casey didn't hold any coins, while @domo reportedly held 1000. Their interaction during an event in Singapore appeared friendly.
Chapter II: Enter Beny with LooksOrdinal, $Trac, and Tap Protocol
Developer Beny became active in the community, creating LooksOrdinal, $Trac, and introducing Tap Protocol, improving the BRC-20 standard. His projects formed an intricate governance structure, with $Trac and $-Tap acting as governance tokens for various protocols.
Conclusion 2: Beny's three projects with intertwined governance mechanisms are a unique approach in the L1 space.
Chapter III: Atomicals Protocol Shines
About three months after Ordinals, an anonymous developer introduced Atomicals Protocol in September 2023. It leverages BTC's UTXO for forging and propagating tokens, aligning more with Bitcoin's principles. Atomicals introduced $Atom, a token mined through CPU mining, adding a technical barrier.
Conclusion 3: Atomicals, developed over six months, emerged as a robust competitor to Ordinals, gaining significant community attention.
Chapter IV: Casey's Response - The Runes Protocol
Casey, not content with BRC-20's impact on Ordinals, introduced the Runes protocol. It aims to create a homogeneous token protocol for Bitcoin, emphasizing UTXO technology. Runes, yet to be officially released, promises to bring additional revenue and developers to the Bitcoin ecosystem.
Conclusion 4: Once Casey releases Runes, it's likely to attract substantial market attention.
In summary, the past six months have witnessed a proliferation of new protocols on Bitcoin. Each protocol brings its unique features and governance mechanisms, contributing to the evolving landscape of Bitcoin's Layer 1 ecosystem.
8 hours ago, 3 Whales jointly deposited 157.2K ($14.7M) to #binance.
Subsequently, the price of dropped from $118 to the local dip of $86, a 27% decrease.
'Short' signal?
Subsequently, the price of dropped from $118 to the local dip of $86, a 27% decrease.
'Short' signal?
Why are cryptocurrency trading systems recommended to be straightforward?
Many traders tend to overcomplicate their trading systems, thinking that adding more conditions will enhance precision and boost their success rate. But the reality is that the most effective trading systems are elegantly simple, to the point where they require minimal overthinking. This simplicity helps eliminate the influence of subjective factors and ensures that every trade is executed strictly according to predefined rules, leading to profitability.
With too many factors to consider, it becomes difficult to establish a consistent trading pattern. What happens if one of the entry conditions is not met? Could it be that market conditions satisfying all criteria don't even exist? Such complex trading systems lack resilience and are prone to collapsing with even minor deviations.
Complex trading systems face two significant issues: unclear criteria that make execution challenging and a lack of resilience.
In trading, there is no surefire way to predict future market conditions; it involves a lot of trial and error.
The core of a trading system is not just risk management but profit management. As long as the risk is manageable and there's a slight probability advantage, such signals are worth experimenting with.
Those who can effectively implement simple strategies typically possess a deeper understanding of trading. Adding conditions may be easy, but letting go of them is much more challenging.
A straightforward strategy, provided it aligns with the essence of trading and offers a slight probability advantage, can better navigate market uncertainty, making it more likely to shine in the future. This is why simplicity is key in trading systems.
Many traders tend to overcomplicate their trading systems, thinking that adding more conditions will enhance precision and boost their success rate. But the reality is that the most effective trading systems are elegantly simple, to the point where they require minimal overthinking. This simplicity helps eliminate the influence of subjective factors and ensures that every trade is executed strictly according to predefined rules, leading to profitability.
With too many factors to consider, it becomes difficult to establish a consistent trading pattern. What happens if one of the entry conditions is not met? Could it be that market conditions satisfying all criteria don't even exist? Such complex trading systems lack resilience and are prone to collapsing with even minor deviations.
Complex trading systems face two significant issues: unclear criteria that make execution challenging and a lack of resilience.
In trading, there is no surefire way to predict future market conditions; it involves a lot of trial and error.
The core of a trading system is not just risk management but profit management. As long as the risk is manageable and there's a slight probability advantage, such signals are worth experimenting with.
Those who can effectively implement simple strategies typically possess a deeper understanding of trading. Adding conditions may be easy, but letting go of them is much more challenging.
A straightforward strategy, provided it aligns with the essence of trading and offers a slight probability advantage, can better navigate market uncertainty, making it more likely to shine in the future. This is why simplicity is key in trading systems.
The Six Crypto Trading Principles
1. Before You Begin - Learn
Before embarking on your trading journey, learning forms the foundation. Master financial market knowledge, understand various trading strategies, technical analysis, and risk management to build a solid groundwork for success.
2. Before You Enter - Plan
Each trade requires a clear plan. Outline your trading objectives, risk management strategies, and entry/exit plans to help you stay disciplined and avoid impulsive trading.
3. Before You Profit - Accept Risk
Understanding risk is a part of trading. Before reaping profits, you must be prepared to handle potential losses. Wise risk management can safeguard your capital.
4. Before You Exit - Experiment
Don't rush to exit. Experiment with different methods and strategies in practice to find what works best for you, enhancing your trading success rate.
5. Before You Win - Execute
With a well-defined plan in place, execute decisively. Avoid hesitation, as markets can change rapidly. Execution is the key to success.
6. Before You Enjoy - Be Patient
Trading requires patience. You may encounter setbacks and challenges before reaping the rewards of your trades. Patience is a prerequisite for achieving success.
1. Before You Begin - Learn
Before embarking on your trading journey, learning forms the foundation. Master financial market knowledge, understand various trading strategies, technical analysis, and risk management to build a solid groundwork for success.
2. Before You Enter - Plan
Each trade requires a clear plan. Outline your trading objectives, risk management strategies, and entry/exit plans to help you stay disciplined and avoid impulsive trading.
3. Before You Profit - Accept Risk
Understanding risk is a part of trading. Before reaping profits, you must be prepared to handle potential losses. Wise risk management can safeguard your capital.
4. Before You Exit - Experiment
Don't rush to exit. Experiment with different methods and strategies in practice to find what works best for you, enhancing your trading success rate.
5. Before You Win - Execute
With a well-defined plan in place, execute decisively. Avoid hesitation, as markets can change rapidly. Execution is the key to success.
6. Before You Enjoy - Be Patient
Trading requires patience. You may encounter setbacks and challenges before reaping the rewards of your trades. Patience is a prerequisite for achieving success.
A smartmoney bought 312,901 ($3.81M) at an average price of $12.17 in the past 8 hours.
This smart money has previously traded 10 tokens with a total profit of more than $3.9M.
Made ~$2.15M on $RLB and ~$1.8M on $FLEX.
This smart money has previously traded 10 tokens with a total profit of more than $3.9M.
Made ~$2.15M on $RLB and ~$1.8M on $FLEX.
The are typically divided into several key roles:
The primary participants, often described as the foot soldiers on the battlefield, are the retail traders.
My arch-nemesis: mid-sized institutional investors.
My support: large institutional investors.And the deities of the battlefield: super-large institutional investors.
When your capital is limited, it's a matter of luck. You seize opportunities for one-sided trades when the stars align.
For those with more money, they can afford to overlook short-term fluctuations, focusing on establishing positions in actual assets. A7 follows a 6+3+1 allocation, while A6 opts for 4+3+3. Riding the bull market, they can enjoy the fruits of their investments with peace of mind!
The primary participants, often described as the foot soldiers on the battlefield, are the retail traders.
My arch-nemesis: mid-sized institutional investors.
My support: large institutional investors.And the deities of the battlefield: super-large institutional investors.
When your capital is limited, it's a matter of luck. You seize opportunities for one-sided trades when the stars align.
For those with more money, they can afford to overlook short-term fluctuations, focusing on establishing positions in actual assets. A7 follows a 6+3+1 allocation, while A6 opts for 4+3+3. Riding the bull market, they can enjoy the fruits of their investments with peace of mind!
Have you ever noticed that while trading , you often find yourself holding onto losing positions for too long, hoping the price will bounce back, yet you tend to quickly sell when you make a small profit, fearing the price might reverse?
If you've experienced these scenarios, then congratulations, you've fallen into the trap of common human psychology, which can hinder your trading success.
One of the trading experts once wisely said: "Unfounded rejoicing in floating profits leads to emptiness, and those who haven't grasped the true essence are ensnared." Without a well-established trading strategy, all your floating profits amount to empty satisfaction. Regardless of how much money you make, you might end up returning multiple times your gains to the market.
To build a solid trading foundation, you must gain insights into the psychological factors that can disrupt your trading discipline. Trade counter to your emotions and return to your true self. This is achieved through consistent deliberate practice, cultivating disciplined trading habits, and conquering the vulnerabilities of human psychology.
If you've experienced these scenarios, then congratulations, you've fallen into the trap of common human psychology, which can hinder your trading success.
One of the trading experts once wisely said: "Unfounded rejoicing in floating profits leads to emptiness, and those who haven't grasped the true essence are ensnared." Without a well-established trading strategy, all your floating profits amount to empty satisfaction. Regardless of how much money you make, you might end up returning multiple times your gains to the market.
To build a solid trading foundation, you must gain insights into the psychological factors that can disrupt your trading discipline. Trade counter to your emotions and return to your true self. This is achieved through consistent deliberate practice, cultivating disciplined trading habits, and conquering the vulnerabilities of human psychology.
Memeland: A Paradigm Shift from Web2 Meme Community
Let's talk about the recent launch of Memeland on Binance Launchpad. Memeland has been on my radar for quite some time. In terms of innovation, Memeland doesn't stand out as a groundbreaking project. Instead, it's more of a case of "micro-innovation" combined with Web2-style management, yet it has managed to gain recognition under the Binance umbrella. Below, we'll discuss Memeland's past and its potential for the future:
1. A Web3 Transition for 9GAG
The company behind Memeland is 9GAG, which is rumored to have 200 million users. While this may sound impressive, it's important to scrutinize these numbers. Web2 social media platforms often have high overlap in user counts, and many inflate their figures. When assessing the impact of 9GAG in the Web3 domain, it certainly holds a significant position.
It appears that 9GAG's transition to Web3 was somewhat forced, as its Web2 platform had limited competitiveness. The main question is why 9GAG succeeded in this transition.
9GAG's roots lie in meme culture, and the name "9GAG" itself is a playful term in Cantonese. Therefore, it naturally embodies meme culture, which led to Memeland's experimentation with the Web3 creator economy. Through MVP, Potatoz, Captainz, and other NFTs, in conjunction with the $MEME token system, they aimed to redefine the creator economy.
2. Memeland's Popularity
Memeland's popularity didn't just surge because it was about to be listed on Binance. It had been gaining traction for a while, primarily due to its NFT series, including MVP, Potatoz, and Captainz. These NFTs consistently improved and attracted a loyal user base.
Despite the unassuming nature of Memeland's NFT series, the team's grounded approach and expertise in "online marketing" and "viral propagation" contributed to its success.
These seemingly simple strategies reflect the pragmatism that is often missing in the crypto space. Sometimes, being just a bit more practical can lead to victory – a quality that I truly appreciate and find rare among startup teams.
3. The Future of $MEME
$MEME is the core of Memeland, serving to support creators and function as a governance token. Comparing it to other tokens is challenging since $MEME is both a meme and a core token within its NFT ecosystem, straddling the line between these categories.
Looking ahead, $MEME's potential lies primarily in the metaverse and social finance (SocialFi). It could serve as an economic hub for these emerging projects, such as governance tokens in the metaverse and creator economy tokens. Additionally, it might become a central hub for the value of the future NFT market. Its success will ultimately depend on the practical implementation of these products.
The fact that $MEME successfully launched on Binance Launchpool demonstrates Binance's recognition of this transformation project from Web2 to Web3.
Binance's strategy for listing projects generally favors those that can bring in users from outside the crypto space. $MEME's listing odds are promising, and those with idle BNB or USDT (which can be converted to stablecoins like TUSD or FDUSD) can take advantage of Binance Launchpool. I typically participate in Launchpool to earn profits, which I then convert back to $BNB – it's a sweet deal!
In conclusion, Memeland's journey from Web2 to Web3 is a testament to the power of incremental innovation and practical execution. It's not always about groundbreaking ideas; sometimes, it's about doing things a bit more practically. This transition also highlights the changing landscape of Web2 companies looking to find a place in the evolving Web3 world.
$MEME $BNB #BinanceSquareTalks #BinanceLaunchpad
1. A Web3 Transition for 9GAG
The company behind Memeland is 9GAG, which is rumored to have 200 million users. While this may sound impressive, it's important to scrutinize these numbers. Web2 social media platforms often have high overlap in user counts, and many inflate their figures. When assessing the impact of 9GAG in the Web3 domain, it certainly holds a significant position.
It appears that 9GAG's transition to Web3 was somewhat forced, as its Web2 platform had limited competitiveness. The main question is why 9GAG succeeded in this transition.
9GAG's roots lie in meme culture, and the name "9GAG" itself is a playful term in Cantonese. Therefore, it naturally embodies meme culture, which led to Memeland's experimentation with the Web3 creator economy. Through MVP, Potatoz, Captainz, and other NFTs, in conjunction with the $MEME token system, they aimed to redefine the creator economy.
2. Memeland's Popularity
Memeland's popularity didn't just surge because it was about to be listed on Binance. It had been gaining traction for a while, primarily due to its NFT series, including MVP, Potatoz, and Captainz. These NFTs consistently improved and attracted a loyal user base.
Despite the unassuming nature of Memeland's NFT series, the team's grounded approach and expertise in "online marketing" and "viral propagation" contributed to its success.
These seemingly simple strategies reflect the pragmatism that is often missing in the crypto space. Sometimes, being just a bit more practical can lead to victory – a quality that I truly appreciate and find rare among startup teams.
3. The Future of $MEME
$MEME is the core of Memeland, serving to support creators and function as a governance token. Comparing it to other tokens is challenging since $MEME is both a meme and a core token within its NFT ecosystem, straddling the line between these categories.
Looking ahead, $MEME's potential lies primarily in the metaverse and social finance (SocialFi). It could serve as an economic hub for these emerging projects, such as governance tokens in the metaverse and creator economy tokens. Additionally, it might become a central hub for the value of the future NFT market. Its success will ultimately depend on the practical implementation of these products.
The fact that $MEME successfully launched on Binance Launchpool demonstrates Binance's recognition of this transformation project from Web2 to Web3.
Binance's strategy for listing projects generally favors those that can bring in users from outside the crypto space. $MEME's listing odds are promising, and those with idle BNB or USDT (which can be converted to stablecoins like TUSD or FDUSD) can take advantage of Binance Launchpool. I typically participate in Launchpool to earn profits, which I then convert back to $BNB – it's a sweet deal!
In conclusion, Memeland's journey from Web2 to Web3 is a testament to the power of incremental innovation and practical execution. It's not always about groundbreaking ideas; sometimes, it's about doing things a bit more practically. This transition also highlights the changing landscape of Web2 companies looking to find a place in the evolving Web3 world.
$MEME $BNB #BinanceSquareTalks #BinanceLaunchpad
Why Are South Koreans Crazy About Cryptocurrency?
In South Korea, the cryptocurrency trading community is primarily composed of millennials. As of the end of 2021, there were 5.6 million cryptocurrency trading users in South Korea, with 3.08 million of them falling in the 20 to 39 age range, accounting for 23% of the population within that age group.
The mindset of South Korean youth has undergone a transformation. They no longer seek the traditional path of hard work and education to secure ideal jobs, as this has become increasingly challenging in the current South Korean environment. They face intense competition in education and the difficulty of breaking through social class barriers. Consequently, cryptocurrencies have become a means for them to change their fate and achieve social mobility.
In South Korea, social stratification is a widespread issue, which makes the youth feel that they cannot change their social status. This negativity has given rise to the phenomenon of "low desire," causing the younger generation to be reluctant to engage in topics like marriage, further exacerbating South Korea's demographic and aging population problems.
At the same time, cryptocurrencies have become their way out of these difficulties. In the age of the internet, information spreads rapidly, and young people quickly learn about legendary stories of their peers getting rich overnight through cryptocurrency trading, fueling their enthusiasm for this new avenue.
The cryptocurrency craze in South Korea is driven by a combination of economic pressures, limited social mobility, and the allure of quick wealth – factors that have converged to make cryptocurrencies a beacon of hope for the country's young generation.
In South Korea, the cryptocurrency trading community is primarily composed of millennials. As of the end of 2021, there were 5.6 million cryptocurrency trading users in South Korea, with 3.08 million of them falling in the 20 to 39 age range, accounting for 23% of the population within that age group.
The mindset of South Korean youth has undergone a transformation. They no longer seek the traditional path of hard work and education to secure ideal jobs, as this has become increasingly challenging in the current South Korean environment. They face intense competition in education and the difficulty of breaking through social class barriers. Consequently, cryptocurrencies have become a means for them to change their fate and achieve social mobility.
In South Korea, social stratification is a widespread issue, which makes the youth feel that they cannot change their social status. This negativity has given rise to the phenomenon of "low desire," causing the younger generation to be reluctant to engage in topics like marriage, further exacerbating South Korea's demographic and aging population problems.
At the same time, cryptocurrencies have become their way out of these difficulties. In the age of the internet, information spreads rapidly, and young people quickly learn about legendary stories of their peers getting rich overnight through cryptocurrency trading, fueling their enthusiasm for this new avenue.
The cryptocurrency craze in South Korea is driven by a combination of economic pressures, limited social mobility, and the allure of quick wealth – factors that have converged to make cryptocurrencies a beacon of hope for the country's young generation.
🗓️ Crypto Calendar for November Don't Miss Out on These Crypto Events!
Oct 31: $TIA - Now Trading on Binance Nov 1: $ACA - MetaDefender Testnet Launch Nov 2: - Solana Breakpoint Conference Nov 3: Coinbase Delisting - CRPT·MXC·QSP·REN·TONE Nov 5: $BNT - Token Buyback Governance Vote
Nov 6: OpenAI - Developer Conference Nov 7: $MC - $BEAMX Rebranding Nov 8: - Swell 2023 Nov 8: $MATIC - Bybit $POL Launchpool Ends Nov 9: - Ripple-SEC Lawsuit Updates Nov 10: $SUI - Bull Shark 3 Auction Nov 11: $INJ - NFT Collection Auction Nov 12: $APT - $166M Token Unlock
Nov 13: Upbit - UDC 2023 Nov 14: US - CPI (Oct) Nov 15: US - PPI (Oct) Nov 17: US - Stopgap Budget Deadline
Nov 19: $CKB - Halving Event Nov 19: Swift - ISO20022 Adoption Nov 20: $BLUR - Season 2 Airdrop
Nov 27: $QTUM - Mainnet Upgrade Nov 28: $EOS - New Consensus Mechanism Launch
🌟 Other Events (Date TBD)
$TOMO - Rebranding$MATIC - Rebranding$NTRN - The Neutralit Upgrade$PEPE - Strategic Partnership$SNX - V3 Mainnet Release
🚨 Potential Downside Risks
US Government BTC SaleFTX's Asset LiquidationUS Shutdown Concerns
Oct 31: $TIA - Now Trading on Binance Nov 1: $ACA - MetaDefender Testnet Launch Nov 2: - Solana Breakpoint Conference Nov 3: Coinbase Delisting - CRPT·MXC·QSP·REN·TONE Nov 5: $BNT - Token Buyback Governance Vote
Nov 6: OpenAI - Developer Conference Nov 7: $MC - $BEAMX Rebranding Nov 8: - Swell 2023 Nov 8: $MATIC - Bybit $POL Launchpool Ends Nov 9: - Ripple-SEC Lawsuit Updates Nov 10: $SUI - Bull Shark 3 Auction Nov 11: $INJ - NFT Collection Auction Nov 12: $APT - $166M Token Unlock
Nov 13: Upbit - UDC 2023 Nov 14: US - CPI (Oct) Nov 15: US - PPI (Oct) Nov 17: US - Stopgap Budget Deadline
Nov 19: $CKB - Halving Event Nov 19: Swift - ISO20022 Adoption Nov 20: $BLUR - Season 2 Airdrop
Nov 27: $QTUM - Mainnet Upgrade Nov 28: $EOS - New Consensus Mechanism Launch
🌟 Other Events (Date TBD)
$TOMO - Rebranding$MATIC - Rebranding$NTRN - The Neutralit Upgrade$PEPE - Strategic Partnership$SNX - V3 Mainnet Release
🚨 Potential Downside Risks
US Government BTC SaleFTX's Asset LiquidationUS Shutdown Concerns
Twelve Trading Insights, Worth Revisiting for Valuable Wisdom!
1. Wealth isn't generated through frequent trading but rather patiently holding positions.
2. Disregarding risk can lead to financial ruin; respect it, or it will destroy you.
3. Allowing losses to grow is one of the gravest mistakes many investors make.
4. Michael Marcus, a top trader, taught me a valuable lesson: Be willing to make mistakes occasionally. There's no harm in being wrong as long as you aim to make the best judgment, learn from your errors, and eventually double your capital.
5. Trading taught me painful lessons, making me question why I'd risk so much in a single trade. It made me reflect on life's pursuit of happiness over enduring pain.
6. Three critical factors in good trading: (1) Stop loss, (2) Stop loss, (3) Stop loss. Adhering to these rules might give you a chance at trading success.
7. If I incur losses in the market, I exit immediately, regardless of the trading environment. Remaining in a losing position while the market deviates from your expectations can lead to elimination.
8. Truthfully, I don't watch the market; I focus on risk, return, and capital.
9. When a trade succeeds, I think, "I made the right decision." But if I'm wrong, there's nothing left. I accumulate capital because there's always another trade.
10. I always limit risk, so there's no need to worry about anything else.
11. Key to successful trading is controlling emotions. If intelligence were the primary factor, there would be many profitable traders. The most common reason traders lose in financial markets is their inability to cut losses in a timely manner.
12. I believe that, to date, psychological resilience in investing is the most critical factor, followed by risk management, and finally, determining entry and exit points.
1. Wealth isn't generated through frequent trading but rather patiently holding positions.
2. Disregarding risk can lead to financial ruin; respect it, or it will destroy you.
3. Allowing losses to grow is one of the gravest mistakes many investors make.
4. Michael Marcus, a top trader, taught me a valuable lesson: Be willing to make mistakes occasionally. There's no harm in being wrong as long as you aim to make the best judgment, learn from your errors, and eventually double your capital.
5. Trading taught me painful lessons, making me question why I'd risk so much in a single trade. It made me reflect on life's pursuit of happiness over enduring pain.
6. Three critical factors in good trading: (1) Stop loss, (2) Stop loss, (3) Stop loss. Adhering to these rules might give you a chance at trading success.
7. If I incur losses in the market, I exit immediately, regardless of the trading environment. Remaining in a losing position while the market deviates from your expectations can lead to elimination.
8. Truthfully, I don't watch the market; I focus on risk, return, and capital.
9. When a trade succeeds, I think, "I made the right decision." But if I'm wrong, there's nothing left. I accumulate capital because there's always another trade.
10. I always limit risk, so there's no need to worry about anything else.
11. Key to successful trading is controlling emotions. If intelligence were the primary factor, there would be many profitable traders. The most common reason traders lose in financial markets is their inability to cut losses in a timely manner.
12. I believe that, to date, psychological resilience in investing is the most critical factor, followed by risk management, and finally, determining entry and exit points.
Long-term investment thinking comes with prerequisites!
Time teaches us that life's greatest miracle is long-term thinking. As Warren Buffett once said, life is like rolling a snowball, and the key is to find wet snow and a long hill. This provides a vivid interpretation of the concept of long-term thinking.
When it comes to managing family wealth, long-term thinking typically emphasizes a focus on long-term benefits, especially when it involves capital market investments. It's a journey destined to ride the waves of volatility. Only when you extend the horizon long enough might you witness a dramatically different landscape of returns.
So, talking about so-called long-term thinking means being prepared. It may mean not seeing returns today, tomorrow, or the day after, but perhaps only well into the future.
To achieve this, it not only requires patience but also a well-padded wallet.
Conversely, we shouldn't inadvertently turn short-term money into long-term money. Doing so can lead to a change in mindset and heightened anxiety, affecting our actions.
Time teaches us that life's greatest miracle is long-term thinking. As Warren Buffett once said, life is like rolling a snowball, and the key is to find wet snow and a long hill. This provides a vivid interpretation of the concept of long-term thinking.
When it comes to managing family wealth, long-term thinking typically emphasizes a focus on long-term benefits, especially when it involves capital market investments. It's a journey destined to ride the waves of volatility. Only when you extend the horizon long enough might you witness a dramatically different landscape of returns.
So, talking about so-called long-term thinking means being prepared. It may mean not seeing returns today, tomorrow, or the day after, but perhaps only well into the future.
To achieve this, it not only requires patience but also a well-padded wallet.
Conversely, we shouldn't inadvertently turn short-term money into long-term money. Doing so can lead to a change in mindset and heightened anxiety, affecting our actions.
The Daily Life of Crypto Traders – Are You One of Them?1. I used to think the crypto world was all about extra income, but it turned out to be my biggest expense.
2. I diversified my investments, but little did I know, the table would flip.
3. I believed in light, but it turned out to be red lights.
4. I initially hoped to quit my day job with crypto gains, but now I'm juggling five different jobs.
5. Money doesn't just come with a gust of wind; sometimes, it's the wind that blows it away. 💨💸
2. I diversified my investments, but little did I know, the table would flip.
3. I believed in light, but it turned out to be red lights.
4. I initially hoped to quit my day job with crypto gains, but now I'm juggling five different jobs.
5. Money doesn't just come with a gust of wind; sometimes, it's the wind that blows it away. 💨💸
Binance is thrilled to introduce the exciting Memecoin ( $MEME ) to its exclusive Launchpool, where users can stake their tokens to unlock new opportunities. This collaboration represents a significant milestone in 's partnership with Memeland, the innovative Web3 venture studio linked to the renowned 9GAG.
Starting from October 28th, Binance users will embark on a thrilling journey to farm MEME tokens by staking Binance Coin (), TrueUSD (), and . The adventure will span a 30-day period, culminating on November 26th, and it unfolds across three distinct staking pools dedicated to BNB, TUSD, and FDUSD enthusiasts. Get ready for a memetastic experience!
Starting from October 28th, Binance users will embark on a thrilling journey to farm MEME tokens by staking Binance Coin (), TrueUSD (), and . The adventure will span a 30-day period, culminating on November 26th, and it unfolds across three distinct staking pools dedicated to BNB, TUSD, and FDUSD enthusiasts. Get ready for a memetastic experience!
Key Facts You Must Know About Trading Cryptocurrencies
Heavily frequent trading leads to doom.
Neglecting to set stop losses leads to doom.
Unquenchable greed leads to doom.
Entering the market blindly leads to doom.
Excessive trading activity leads to doom.
These lessons are learned through multiple experiences.
Yesterday I was cautioning myself, today I'm repeating my mistakes.
Regrettably, we often forget, so when will we truly learn?
You need to control all your emotions.
The cost is feeling the pain deep within your bones.
Only when you've felt this can you become a successful #crypto trader.
Heavily frequent trading leads to doom.
Neglecting to set stop losses leads to doom.
Unquenchable greed leads to doom.
Entering the market blindly leads to doom.
Excessive trading activity leads to doom.
These lessons are learned through multiple experiences.
Yesterday I was cautioning myself, today I'm repeating my mistakes.
Regrettably, we often forget, so when will we truly learn?
You need to control all your emotions.
The cost is feeling the pain deep within your bones.
Only when you've felt this can you become a successful #crypto trader.
Everyone Can Try Learning Cryptocurrency Trading
Everyone can attempt to learn #cryptocurrency trading because the barrier to entry is low, and the potential for success is high. Don't let the experiences of those who haven't succeeded after ten years mislead you.
Some might argue that they don't like trading, but is your 9-to-5 job with an average salary something you truly enjoy? Often, it's about the financial aspect. The same goes for entrepreneurship; many people consider whether it can be profitable first, and passion comes second.
So, as adults, you have the opportunity to change. Try your hand at it, whether it's trading, starting a business, or working a regular job. Consider whether you can handle the potential outcomes, and if the positive results align with your goals, then go for it with full commitment.
Everyone can attempt to learn #cryptocurrency trading because the barrier to entry is low, and the potential for success is high. Don't let the experiences of those who haven't succeeded after ten years mislead you.
Some might argue that they don't like trading, but is your 9-to-5 job with an average salary something you truly enjoy? Often, it's about the financial aspect. The same goes for entrepreneurship; many people consider whether it can be profitable first, and passion comes second.
So, as adults, you have the opportunity to change. Try your hand at it, whether it's trading, starting a business, or working a regular job. Consider whether you can handle the potential outcomes, and if the positive results align with your goals, then go for it with full commitment.
The 11 Keys Factors to Make Big Money in the #cryptocurrency
1. High-Level Awareness: Don't get too pleased with daily fluctuations of a few points. Focus on the bigger picture.
2. Risk Capital: Only invest what you can afford to lose. It's essential to keep a level head.
3. Long-Term Vision: Invest with the future in mind. Short-term gains are fleeting.
4. Asset Selection: Divide assets into two categories: established ones from the previous bull market and new, promising assets. Be selective.
5. Phased Entry: Enter the market with a phased approach, not all at once.
6. Exit Strategy: Always use a scaling-out strategy. Don't sell everything at once. Reinvest profits during downturns.
7. Risk Management: Minimize risk to maximize profit. Safety first.
8. Avoid Excessive Leverage: Stay away from contracts. Profits are often short-lived.
9. Bear Market Strategy: Make your moves during bear markets for a fruitful harvest in bull markets.
10. Long-Term Thinking: Plan for a lifetime of wealth, not overnight riches.
11. Continuous Learning: Money should be a byproduct of your learning journey. Don't chase profits; let them follow you as you grow in knowledge.
#BTC #crypto2023
1. High-Level Awareness: Don't get too pleased with daily fluctuations of a few points. Focus on the bigger picture.
2. Risk Capital: Only invest what you can afford to lose. It's essential to keep a level head.
3. Long-Term Vision: Invest with the future in mind. Short-term gains are fleeting.
4. Asset Selection: Divide assets into two categories: established ones from the previous bull market and new, promising assets. Be selective.
5. Phased Entry: Enter the market with a phased approach, not all at once.
6. Exit Strategy: Always use a scaling-out strategy. Don't sell everything at once. Reinvest profits during downturns.
7. Risk Management: Minimize risk to maximize profit. Safety first.
8. Avoid Excessive Leverage: Stay away from contracts. Profits are often short-lived.
9. Bear Market Strategy: Make your moves during bear markets for a fruitful harvest in bull markets.
10. Long-Term Thinking: Plan for a lifetime of wealth, not overnight riches.
11. Continuous Learning: Money should be a byproduct of your learning journey. Don't chase profits; let them follow you as you grow in knowledge.
#BTC #crypto2023
How Your Trading Style Impacts Your Outcomes
Understanding your #crypto trading style is a critical aspect of trading. Different trading styles can have a significant influence on your results. Knowing your style and selecting the right strategy is of utmost importance.
Short-Term Traders
Short-term traders are typically the swift actors in the market. They pursue quick profits and may engage in multiple daily trades. Short-term trading requires strong discipline and keen market awareness. While the potential rewards can be substantial, the associated risks are equally heightened.
Long-Term Investors
Conversely, long-term investors adopt a more extended view. They might hold positions for weeks, months, or even more extended periods. Long-term investors place greater emphasis on market trends and fundamental analysis. They can withstand market fluctuations and generally anticipate stable returns over time.
Medium-Term Strategies
Medium-term strategies blend aspects of both short-term and long-term approaches. Usually, they involve holding positions for several days to weeks. This strategy often incorporates a comprehensive mix of technical and fundamental analyses. Medium-term strategies aim to strike a balance between risk and reward.
No matter which style you opt for, comprehending the trade-off between risk and reward is essential. Short-term trading may lead to rapid returns but carries increased risks. Long-term investors tend to be more conservative but require patience. Medium-term strategies strive to find this equilibrium but necessitate discipline.
Understanding your #crypto trading style is a critical aspect of trading. Different trading styles can have a significant influence on your results. Knowing your style and selecting the right strategy is of utmost importance.
Short-Term Traders
Short-term traders are typically the swift actors in the market. They pursue quick profits and may engage in multiple daily trades. Short-term trading requires strong discipline and keen market awareness. While the potential rewards can be substantial, the associated risks are equally heightened.
Long-Term Investors
Conversely, long-term investors adopt a more extended view. They might hold positions for weeks, months, or even more extended periods. Long-term investors place greater emphasis on market trends and fundamental analysis. They can withstand market fluctuations and generally anticipate stable returns over time.
Medium-Term Strategies
Medium-term strategies blend aspects of both short-term and long-term approaches. Usually, they involve holding positions for several days to weeks. This strategy often incorporates a comprehensive mix of technical and fundamental analyses. Medium-term strategies aim to strike a balance between risk and reward.
No matter which style you opt for, comprehending the trade-off between risk and reward is essential. Short-term trading may lead to rapid returns but carries increased risks. Long-term investors tend to be more conservative but require patience. Medium-term strategies strive to find this equilibrium but necessitate discipline.