I see many friends complain that it's hard to make money from trading, but perhaps the main reason is greed. Seeing others heavily leverage a certain altcoin, long or short, and making huge profits in a single trade, they can't sit still. They can't sleep until they lose their principal, with coins skyrocketing and crashing every day. Every time they feel they've missed out, they keep chasing. Doing this every day, it's definitely hard to make money.
If you change your approach and really don't want to cut losses, then don't set stop-losses. Lower your leverage, use 2x leverage, and avoid full positions. Follow the logic of not buying when falling, small buys on small dips, big buys on big drops, bottom-fishing during crashes, small sells on small rises, big sells on big rises, and clearing out during surges. If you do this, losing money isn't so easy.
Avoid small-cap altcoins; stick to legitimate large coins like Bitcoin and Ethereum. If you really want to lose, it won't be that easy.
Slow is fast; compound interest is built on profits. If you haven't learned to walk before running, you'll start thinking about "rolling over positions." Who loses money then?
Be friends with time, and also friends with money. There's a reason why wealth doesn't come from rushing.
When your principal is small, focus your energy on work and increasing your income. Have more "spare money" for trading, rather than risking your small capital with a "all-in" approach. Trading allows failure, margin calls, and even going to zero. As long as your family and career are intact and haven't failed, you haven't lost.
Don't turn trading into a lonely game where you lose everything in your family, career, and trading. It's better to quit early than to end up with three losses.
Never think that losing somewhere means you must recover it immediately. Trading isn't for everyone. Some people are simply not suited for it—like those with impatient personalities, prone to overtrading and extreme reactions. These traits make trading unsuitable from the start. Forcing it will only lead to more losses and deeper traps.
I've mentioned this old joke before: work hard, and your efforts will pay off; do business diligently, and your income will grow. But if you try to force trades, opening positions on flat ground just to chase small profits, you'll only end up losing everything.
Opportunities in trading come from waiting. The key element is just one word: wait.
Waiting can turn losses into profits, missing a trade can still land you good opportunities. If you can't wait, you'll only die.
When prices rise, FOMO kicks in—you're overwhelmed, anxious, with a pale face. When prices fall, FUD and panic set in. Anxiety and fear—how can you make money like this, my brother...?
