Why do you make money? How are you able to earn money?

This should be the first principle of financial literacy.
Do you earn money based on your abilities?
Still relying on trends to make money?
Still rely on hard work to make money?
Still relying on cognition to make money?
Is it still about making money with patience?

If you can't explain it clearly, what exactly are you relying on to make money? If you just muddled through and earned money, then one can only say that luck plays a big part, or that the possibility of continuously earning this kind of money is very low.

Therefore, regardless of which market you are playing in or which role you are taking, you must have an eagle's perspective, seeing the overall landscape and trends of your environment, rather than being like an ant, focused only on the point where you are situated. Without a broader understanding, you cannot clearly see the process and stage you are in, which makes it impossible to make the right choices.

1) Find your core competitiveness in an incremental growth market.
2) In a market of existing game, it is necessary to find structural opportunities.

In a trending market, even fools can make money.
In the stock market, it is about ability rather than luck.
In the existing market, choosing the right option is important, but effort is also needed to make a profit.
In a trending market, if you make the right choice, you can still do well without putting in much effort.

For example, buying BTC - why can you make money?
What makes you think you can make money by buying BTC?

1) What you are competing on is patience + cognition.
Cognition refers to the fact that BTC is a market with incremental growth, and in the next 10 years, there will be new users added.
Moreover, BTC now has structural dividends and will absorb market share from assets such as gold.
So, under this trend, holding on and adopting a long-term perspective can lead to making money.
Cognition is the foundation, patience is the condition.
Patience is the core competency!

2) Conduct in-depth long video interviews
The quality of guests and the ability to conduct interviews are core competencies.
Ability is core competitiveness!

3) Play meme
Patience is not a core competitive advantage, as the market does not reward patience with positive premiums; of course, if you can wait until the price drops very low before buying, then patience becomes the core factor for your success. It is about buying at a sufficiently low price.
Ability - the ability to select coins is considered a core competitiveness. However, in essence, the premium space for this competitiveness is not large when buying the top ones, because as long as the Long Yi principle is practiced, everyone can narrow the gap in this area!
Additionally, it's about the size of the funds - when it comes to playing the old memes, the thickness of the funds is considered a competitive advantage.

Therefore, to play memes

First, be patient and wait for a price that is low enough. If you can't do this, you will lose your competitive edge and are likely to incur losses.
Second, capital thickness
Third, the ability to select coins
Fourth, having patience with volatility, not panicking and selling off at a 20% drop - this is also very important.
Fifth, don't be overly greedy and expect to become rich all at once. If you buy at the right time, set a reasonable price increase expectation in the range of 50%-100% for selling, and you will likely make a profit.

Only under these combined circumstances can one surpass others and make money.

Summarize yourself, identify the areas where you have not performed well, this is the fundamental reason for not making money!

Is it a lack of patience?
Still too greedy?