The three types of people most likely to fail on the road of trading
The three types of people most likely to fail on the road of trading Hello everyone, I am the captain. Over the years, I have been cautiously making a living in the cryptocurrency market, continuously rubbing against the market and myself. It has been five or six years, and gradually a sense of weariness has emerged in my heart, like an old callus grown on my father's hand, like the scars on an old soldier's chest. There is no need to question, no need to sigh; a complete story is already contained within. Waiting for the flowers to bloom is a very happy expectation, unrelated to the flowers themselves. It is in this increasingly anxious reality, in those long nights where you and I have not yet dawned, that we all need a similar spiritual nourishment to soothe the weariness, to enjoy a moment of contemplation, pause, and relaxation, so that we can walk more steadily and farther. The journey of trading is full of twists and turns. Having walked to this point, a glance seems to span a decade, and everyone has their own experiences and feelings. Over the past few years, I have always been eager to raise my hand to speak, wanting to share with you in Binance Square. I often fantasize about drawing the paths I have walked, the obstacles I have encountered, and the mountains and rivers I have met, stroke by stroke into a complete map, placing it here for the lost travelers, presenting a path I once walked. However, the waves of the times are large and fierce, and the trading stage is indeed too small. I gradually realized that this task is quite difficult because everyone has a map in their minds, everyone has a city in their minds. The poetry and distance that most people desire, that grand Tang dynasty, are not depicted in my map. I have also made many attempts to explain that the trading results most people desire are actually an illusion, like a mirage; as you approach it, it disappears. Besides the bewildered self, all that remains is the desolate desert, and the other side of the road is still a desert. However, the road of trading must be walked step by step with practical effort. If you pursue the illusory mirage with your flesh and blood, you will inevitably end up with a feast for the eyes and suffering from greed, falling into hell a little bit. The trading dreams of too many people are merely a case of small people having big desires, only to be admired from afar and not to be toyed with lightly. After realizing these things, I gradually lost interest in sharing, much like the shepherd and the old lady going to the village of happiness. When the old lady encounters robbers on the small road and shatters a basket of eggs, and then returns to the main road in disarray, when she meets the shepherd again, that gaze exchanged between them, the awkwardness and resentment, can rebound and be deadly. Huanglian can cure illness without merit, and ginseng can kill without guilt. Yet I am fortunate to have met many like-minded brothers and sisters, reflecting each other on the path of trading practice, growing together.
The main issue with trading is the downtime in the trading system. Opportunities may not appear every day, but rather intermittently. When there are no targets, you might become confused and unable to wait patiently with an empty position, ultimately misstepping the rhythm. At this point, either your self-control is strong enough to endure waiting with an empty position, or if you can't resist, you can find a complementary pattern according to your cycle rhythm. This means finding a pattern that can make money during the losing phase of your current pattern, but this is very difficult. It's still recommended to focus on just one trading system at the beginning.
How can an ordinary trader do well in trading and break the cycle of trading losses? Start by doing one thing well, starting with one cryptocurrency, such as BTC, ETH, or BNB. Those who are distracted will not have good results. If you don't have profit-making ability, don't use too much capital; if you have sufficient capital strength, you can start with 100,000; if not, start with 10,000 to 30,000. Use small capital to stabilize your trading model. If you can avoid losses for three consecutive months and six months, it means your model can be profitable. You can increase your capital; even with small amounts, you can succeed. Starting with a small cost allows you to be more relaxed, which will help you trade better. You need to decide whether to take a gamble in the market or to survive long-term. If you're not short on money, you can play around, but to solve long-term problems, you can't rush; you must take it step by step.
The shortcut to getting started in cryptocurrency trading is to practice short-term trading. Accumulate experience through a lot of trading practice, feel the volatility of crypto, solve your obsession with crypto, and let go. Otherwise, you won't be able to change the nature of holding losing coins, and you won't be able to do well. Make your account rotate daily; water only has vitality when it flows. Once it stops flowing, it becomes stagnant and useless. This is how you ruin your account. In the end, you just hold a bunch of losing coins, unable to move and stubbornly holding on. Only through deliberate practice can you overcome human weaknesses, and this is the key point. Don't be afraid of losses; be brave enough to cut off losses. This hurdle blocks 99% of people.
Without entering the market, how can you talk about making profits in cryptocurrency trading? It's not about making 100% profit on one coin, but rather making 10% profit after doing 100 trades. This is the core of profitability. So don't be swayed by others or by self-media hype about catching hot coins. Don't deliberately seek; instead, stick to your own model, and what naturally appears is yours. The fundamental issue to address is sustainable long-term development, not a one-time gamble.
The second step is to establish your own trading system, which is the overall view of trading. How to understand the market, what standards to use to judge the market, find a relatively objective standard to explain the market, grasp the laws of market fluctuations, and deeply understand the market to find a trading model that suits you. $BNB $BTC $ETH
A few days ago, I also mentioned that the recent big pancake trades I've been doing are trend trades. Trend is king. Since the market has already been pushed up, it won't be so easy to drop in the short term. Don't go all in to short directly; be careful, the market makers will teach you a lesson. Long position on ETH at 4000, long position on BTC at 112668, it's still quite comfortable to eat.
Shorting at high levels is often misunderstood. I have updated my strategy very little during this period because I haven't frequently implemented strategies. 4824eth trend is short, and I reduced my position today. btc 115700 is short.
$TST On the importance of sleeping in, waking up to a world of wealth, if I wake up early, I will also reduce my holdings. Binance's meme is very powerful, love you, from holding positions to ten times profit, like a dream, entered at 0.0295 to hold, up to 0.059
8.25 Square 4824 shouted short positions, everyone is still immersed in the joy of the rally, but in less than a week, the market's decline makes everyone anxious, you can never wake up a person who pretends to be asleep.
4824 publicly called for everyone to short, and when I woke up it was 4361, are they still calling for 5000? Never take the last bite of meat, several short positions have started to take profits today, after the market rotates, there is always a risk of a pullback.
Last night I closed my long positions, and I didn't miss the highest point, nor did I short at the highest point, I also couldn't see it. Last night I held my short position until today and made a profit.