How to quickly turn a $20 principal into $1,000 in profit: I’ve summarized a few requirements. Actually, the principles for $100 and $1,000 principals are the same. As a seasoned trader with 6 years of experience, I want to share my insights.

In the past, I looked at candlestick charts and support levels. I had a bad habit—I'm not sure if others share this—of using support levels as stop-loss points, going all-in with heavy positions, and losing everything in one shot. For example, with Ethereum, I’d take profits at 20-30 points and then exit, but if I lost, I’d hold on stubbornly. Once the price started rising more and more, I’d get anxious because I didn’t hold my position, so I’d go short, which could wipe out my account.

Now I understand: with a $100 principal, you can achieve steady profits. For example, profit of $20. If you think the current position is good, you can open a position. Set your stop-loss at $20 because that’s your profit target. Even if you lose, you won’t lose your principal. Set your risk-reward ratio at 2:1, meaning your minimum profit should be at least $40. Beyond that depends on your personal mindset.

Once you do that, you’ll make a $60 profit. Next time, you can set a stop-loss at $30. Even if you’re wrong, you still have a $30 profit. As long as your profits are stable, you won’t lose money, and your mindset remains calm. It’s just a matter of how much profit you make. Protecting your principal is the top priority. With principal, you can continue to stay in the market. Without it, everything is zero.

Now I plan to start with $20, with the first goal of $100, the second goal of $500, and the third goal of $2000. I aim to complete this challenge in 2 months. Maybe I’ll fail, maybe I’ll succeed—I want to test my strategy.

Hope everyone gets better and their accounts grow bigger. Let’s work hard together. These are just personal opinions, for reference only!