Want To Be A Cryptocurrency Trader? This Is How I Became Profitable | by RJ_Trading | The Capital | Dec, 2024
One of the most commonly searched topics amongst people is “How to make money online?” There are numerous articles and blog posts trying to answer this question, a lot of which are redundant, by the way.
However, one that is frequently listed as one of the options is trading. Usually, it’s cryptocurrency trading, but it could also be FOREX trading.
As a result, numerous people end up trying to take a stab at it.
Here’s the brutal truth, though: 95% of traders fail.
This is usually because people have the wrong about what trading really is and how it actually works.
People come into this endeavor with some preconceived notion that trading is a get-rich-quick scheme.
They want to press a single button and hope to double their money right away. There is no risk management or any sense of emotional regulation.
A familiar cycle you might relate to is the following:
- Enter a trade based on a signal or some rudimentary analysis.
- The trade doesn’t work out.
- You take another trade, heavier in size (revenge trade).
- You get liquidated.
- Rinse and repeat until you…
