Everyone should read this! The best advice anyone will ever give you.
What is your worst enemy in crypto trading?
Impatience!
What is your best friend?
Patience!
Many traders aim for 5-10-20% gains per trade. This isnât trading; itâs gambling.
Instead, focus on a daily goal of 2%. This is achievable in the long term. You might think, "But itâs only 2%." Yes, it is only 2% if you achieve it once. But what happens if you manage it every day for a year?
Here is the formula. Get to know it, understand it, and... obey it!
A = Your wallet after "some" days
P = Value of your investment
A=P(1.02)^n
Letâs say you have 100 USD and aim for a 2% daily increase...
Let's do the math.
After 7 days: A=100(1+0.02)^7=114.86 Not a lot, right?
How about 30 days - approximately 1 month: A=100(1+0.02)^30=181.14 Still not much?
Remember, this is incremental.
After 3 months / 90 days: A=100(1+0.02)^90=594.31 Still not impressed?
Well, this is where things get interesting!
After 180 days: A=100(1+0.02)^180=3532.08 Nice, right? But wait, thereâs more.
After 365 days: A=100(1+0.02)^365=137,740.83. You read it right... 137k usd.
There you go. By aiming for a modest 2% daily increase, starting with 100 USD, you could reach well over 100,000 USD in a year.
So, why do so many people go broke?
Impatience!
Donât aim for big gains overnight. Aim small, daily, for a long period. Why?
Because, in the end, that's a significant gain. Most importantly, achieving 2% a day isn't that hard. Whatâs hard is sticking to it and being patient.
Share it, let's help out all the novice and even experiences traders to understand and most of all sticking to basics. It is all about patience.
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