The most advanced idea I have learned from years of cryptocurrency trading: If you want to make money, you must have absolute strength and experience, otherwise you will lose money! This is true for any industry, even if you are setting up a street stall, you must have more strength and experience than your peers, otherwise you will be killed!
The biggest obstacle for ordinary people to speculate in cryptocurrencies is cognition. Everyone can only see many myths about getting rich quickly in the cryptocurrency circle, but rarely think about the risks. Even if their positions are liquidated hundreds of times, they still feel that they have a chance but are just unlucky. Although contracts have high returns, they are also accompanied by high risks. If you make a loss, you will hold on to it. If you make a little profit, you will run away. Without a trading plan and strategy, you will still go the same old way!
The cognitive barrier in the cryptocurrency circle is: being smart, self-righteous, and not taking things for granted. They think they are the chosen one, they think they are very capable and strong, and they think that if they make a little money, they can make more money. But have you ever thought about this: even if you make money from contracts, is 10,000 yuan the same as 1 million yuan? Is 20,000 times the profit the same as 400,000 times the profit?
This is cognitive impairment. Most people can only stay at the depth of their own cognition, just like after making hundreds of thousands of dollars from selling things on the street with 10,000 yuan, they choose to invest in a bigger store and use the business philosophy of a small stall to run a big store. Can it be the same?
Most of the players in the cryptocurrency circle have small funds, so it is difficult for you to choose spot trading. You say that you can trade in contracts, but you just trade those fake junk coins controlled by powerful dealers every day, and you still refuse to admit defeat and keep doing it. If you say that you have mastered BTC ETH contracts, you have already surpassed 95% of the people. You should first master the mainstream coins that are relatively fair in the game. That is why some people can make money in the cryptocurrency circle, while others always lose everything in the middle!
Finally, if you really want to make money in the cryptocurrency world, you should start with a small position or learn slowly from a place where you can learn the real stuff for at least 3 months. You need to experience various ways of playing in the cryptocurrency world, including but not limited to copycat spot, contracts, DEFI mining, etc., accumulate enough experience, and develop a good mentality; in the end, you must clearly recognize your own strength and have a clear preliminary plan for your expected returns. Instead of wanting to make millions as soon as you enter the circle. $SOL $BTC $ETH