Successful traders don’t focus on chasing one life-changing win. 

Making life-changing money from the markets is not an uncommon goal, but it does not happen overnight. In fact, every trader that scores a massive win can lose it just as quickly – and most do. Understanding the power of consistency and compounding small wins with patience and discipline is the secret to success for every trader throughout the history of financial markets. 

Building a Business is Like Trading

One main reason why many businesses fail to make sales in their first year is because they try to get rich from one deal. Too many founders believe that their dream team and latest technology gives them entitlement to bigger deals straight away. 

In time, successful teams realize the mistake in this approach. They realize the large number of opportunities available to them when they start seeking smaller deals. And those smaller deals end up positioning the company for much bigger deals later on. 

This same scenario plays out in trading. 

Big Wins Are Possible, But …

Any trader can easily fantasize about the possibilities that come from life-changing money after hitting a big win. Plus, especially in crypto markets, seeing other traders win big and post about their wins on Twitter, Telegram and elsewhere are constant reminders that this is possible…maybe it could happen today! 

But the moment a trader starts focusing on hitting the jackpot, they miss the many small trades that can grow their account the “right way,” meaning the way that encourages discipline and protects capital. 

Undercapitalization is a key reason why newer traders feel the “need” to win big and prefer (whether consciously or subconsciously) this path to wealth over a series of small trades. Taking many small trades with a small account can feel like the account balance isn’t going anywhere and trading is a waste of time. An easy way to avoid this tempting mindset is to have a percentage mindset instead of thinking in dollar figures (or euros, pounds, or anything else).

How to Win Big by Trading Crypto

Trading crypto (or any other market) is a waiting game. Big wins are not uncommon, but they can be rare. For this reason, the big wins come from long-term setups that could take weeks or even months and years to manifest. Plus, there is always the possibility of a big move playing out before a trader sees a setup that tells them to take a position. 

Trading crypto can also be a losing game. Every trade will not be a win, and often many losses are taken before a big win is booked. During the periods of small wins and losses before the big win, traders may feel tempted to give up and not take the next opportunity presented by the market—often that is the exact moment a big win could have occurred. To make up for missing the opportunity, a trader could feel compelled to bet big on another trade and ends up losing money. 

Overcoming the Need to Win Big

Every trader needs to accept that big wins often happen at random, and it’s impossible to catch all (or even most) of them. Traders also need to guard their mind against falling into the lottery mindset. It can creep into a trader’s psychology very easily through chats, tweets, news stories, and other media. 

No successful trader experiences big win after big win after big win. 

The most important thing any trader can aim for is consistency. After mastering that, the days of big wins will be celebrated but also recognized to be the abnormalities that they are. Small wins will also be celebrated, and a smart trader will be content with the satisfaction that their account is slowly getting bigger. 

Most traders fail, so even small wins – consistently compounded over time – is exceptional.