Ask yourself this: Am I an investor or a trader?
Being an investor is simple, but it’s also the hardest because it requires a great deal of patience. It means doing nothing but waiting, not selling at a loss, and even adding to your position when necessary. This applies to $BTC
Ethereum, any cryptocurrency, or any investment tool. And you need to do a lot of research and reading.
As a trader, especially on the leveraged side, you need to predict price movements that can occur instantly or in the very short term. If you’re trading with amounts of $1 million or more, you might make a profit and earn significant gains. However, if you’re using smaller amounts like $50K or $100K and find yourself stuck in a position, unless you have at least another $100K on hand to avoid being liquidated, you’re at zero. It’s that simple.
While trading may seem profitable if done logically, the human factor comes into play—greed, boredom, revenge, and overconfidence. These emotions lead to irrational decisions.
Most importantly, all exchanges can execute trades in milliseconds and have access to all your data. They use AI to execute trades—do you really think you can beat them?