You want to be a trader?

Think about it. Just today I met someone in the Bitshares Telegram group asking for advice. What is it? What is stable coins? He had some luck with the Deepbrain Chain ICO and he hold Bitcoin for 2 years or so. Now he has a pile of money and can't tell his wife because she would take the money away from him and lock it away.

Because he was a gambler. He gambled away all his possession including the house he was living in. He went to the casino in his 30s and lost everything, but he was able to save his marriage and live on quite poor. His wife called the local casinos and registered him so he can't enter anymore. He started working as a salesmen. It took him to loose everything to get over his addiction.

Now he sits on a pile of cash and buys some coins here and there. Lost 25% on Cardano in a single day. Asks himself what is wrong. But he can't stop. He starts reading about crypto and the future. Opportunities everywhere and of course risk but that can be managed. I wonder how long it takes him to find Telegram groups where he gets shilled some pumps or profits from insider trading for a monthly or lifetime membership. Lifetime membership for 0.1 BTC? How does that even work? How long is a life and how long does the guy operating the channel wants to do that shit?

No questions, just quick anonymous transactions using crypto and a computer connected via Tor is everything you need to be invisible and collect money from sheeps. Borrow yourself the identity of your university professor who now teaches in a different country. Your followers can Google him and will ask no more questions. You are prepared if they ask. It's easy to pretend to be someone, if no one can tell that you are a dog.

Don't. Be. Like. Him.

The only people that made real money from crypto are the ones that either earn their money as a professional trader on forex makrtes or amatuers that forgot that they had Bitcoin and woke up in December 2017.

Or you woke up earlier and it was so much that it already didn't matter if you take a 90% drawndown.

Being a professional trader has to do with money management. Their was an experiment to test if it was possible to train normal people to become good traders. The most famous trader of that time invited people to participate in the experiment and selected 13 candidates and gave him 2 weeks training of simple rules and after that a trading account funded with 2 million USD.

Most participants succeeded. You find the rules here. I can tell you already that it is all about waiting, discipline, ignoring your emotions. You are a machine that executes a strategy without thinking because that would involve emotions and emotions destroy your results.

It's boring. It's frustrating. And the most dangerous it gets when it's not, but makes you euphoric.

Did you ever asked yourself why people give you signals and post their setup on Twitter? It's because they can't earn money by trading, so that they have to sell „signals“. Either to you or to the one who told them to tell you to buy. It works. Somewhat. But then you are not a trader but a sockpuppet.

If you have the chance to earn money with something you love, skip trading.