How can one make money in the crypto world?

I have been in the crypto world for eight years and have been a professional coin trader for five years.
I have experience with long-term, short-term, ultra-short, and swing trading; I have tried almost every type of method, so I have a say on this issue.

I have always said that mastering a skill is the 10,000-hour rule: 8 hours a day, over 200 days a year for about 5 years. This is just the foundation for stable profits.

Many experts who have gone from tens of thousands to tens of millions or even hundreds of millions only used contracts with very high multipliers. As a result, many have also perished in a bear market, but you just don't know about it. Human nature, in the face of a major trend, often leads people to lose their ability to make correct judgments.

In the crypto world, there are some obscure knowledge or tips that, although unremarkable, are actually quite important. Today, let's talk about a few:
Cost dilution is actually not that simple.
For example, if you invested 10,000 U when the coin price was 10 U, and later the coin price dropped to 5 U, and you added another 10,000 U. At this point, your average cost is 6.67 U, not the 7.5 U that many people think. This situation is very common in the market, and understanding this cost calculation is quite helpful for managing your positions.
The compound interest effect is really quite scary.
If you have 100,000 U on hand and earn 1% every day, you can stop. If you can persist for 250 trading days in a year, your assets can grow to 1,323,200 U by the end of the year. If you can hold on for another two years, your assets could exceed ten million. Of course, this is based on stable returns, and the challenge lies in how to maintain this compound growth consistently.
Probability, take profit and stop loss, there are intricacies involved.
Assuming you invest with a 60% chance of winning, making a 10% profit each time before exiting and stopping losses at 10%. If you operate this way 100 times, the total return can reach 300%. However, the premise is that you must strictly adhere to your trading plan and not be swayed by market fluctuations, especially during times of high market volatility, you must remain calm.
Greed is the greatest stumbling block.
For example, if you start with 10,000 U and earn 10% each time, after 49 days your assets could exceed one million, after 73 days over ten million, and after 97 days it might even reach one billion. However, in reality, very few people can achieve this because most people cannot control their greed and end up falling. This is also why many traders make money but cannot keep it.

Contract trading and position management
In contract trading, position and capital management are crucial. Many people like to use 20%-50% of their principal to open positions, but I personally prefer to use only 10%-20%, setting take profit and stop loss levels. This way, the risk is manageable, and I won't get flustered due to significant fluctuations.

The trends in the crypto world are filled with uncertainty and challenges, but they also contain potential opportunities. Investors should fully understand the associated risks when participating in crypto world investments, remain calm and rational, and respond to market changes with a sound strategy!