No, you can’t. Not yet.
Watching the crypto markets in past year, people went completely mad. Everybody thought these prices are insane. Who would pay $15,000 for a single Bitcoin? It was only $1,000 a couple of months ago. And the prices kept running.
You can be like me, I missed out the crypto boom. Not because I wanted to. It caught me unready, on the sideline. Or you get FOMO, over traded, sold too fast, and did a lot worse than you should. There is (know well known) trading behavior, called FOMO (Fear Of Missing Out): “a pervasive apprehension that others might be having rewarding experiences from which one is absent”.
The price to become a good trader is high. Most people never make it. To be a good trader, you have to lose a lot of money fast and fail to beat the market before turning it around.
If you’re lucky, you learn those lessons and wind up a trader who trades well whether the market is up or down. I am my worst enemy, when trading is concerned. Emotions are against me, market is against me, everything is against me. I am not looking to make steady, slow, conservative profits, year after year. I want to retire early, enjoy rest of my life before Grim Reaper comes.
There is kind of trading strategy, which is used to deliver insane profits: Momentum (or Ride-On) trading. You don’t want slow, conservative profits. You want to hump on the rocket and ride the market. Fast. 1000%, 10000% returns. And, it’s possible. There are traders done it, and still doing it. I am not one of them. I am not trading crypto currencies yet, but I am preparing to enter this beast. And I am very careful. You have to have right mindset for this.
Most people are lying to themselves and to the world. There is reality and there is what you think about the world. Usually they are not the same thing. When your beliefs meet reality, reality wins every time if they are not in sync.
You have to lose money, make money, lose it again. You have to ride the insane emotional roller-coaster as you win big and then lose it all. You have to think you’re a God one day and the market is your personal ATM only to get taken out to the woods and get stripped. That’s how this works. Nobody can teach you everything you need to know. You have to do it!
This can and does result in financial ruin for most traders. High risk. High reward.