Common traps of cryptocurrency losses ⚠️: How many have you stepped on?
In the high-risk and high-return crypto market, many investors always fall into the same misunderstanding, resulting in account shrinkage or even liquidation. If you want to survive in the cryptocurrency circle, it is crucial to avoid these "loss characteristics"! 👇
1️⃣ Frequent trading, increasing costs
Every operation may trigger handling fees and slippage, and it is easy to lose control of emotions due to short-term fluctuations, but miss the big market.
2️⃣ Only chase after the rise, and there is no bottom line for adding positions
There is no clear strategy, and you will be "overwhelmed" when you see the increase. In the end, you often chase high and stand guard, and buying high and selling low has become a habit.
3️⃣ Being trapped without stop loss, fantasizing about getting back the money
Unwilling to face losses, expecting the market to "miracle reversal", the result is often dragging deeper and deeper, missing other opportunities.
4️⃣ Blindly adding positions in the early stage of decline
Rashly adding positions when the trend is unclear may accelerate losses. Be cautious when operating against the trend!
5️⃣ Holding the currency for too short a time
Frequent entry and exit, seemingly flexible, but in fact it is easy to be defeated by short-term fluctuations and miss the opportunity of long-term appreciation.
6️⃣ Chase when it rises, cut when it falls
Without a clear plan, it is completely led by market sentiment, and can only be a "leek" in the end.
7️⃣ Frequent currency exchange, loss of focus
Every time you exchange the currency, you have to re-evaluate the project, the transaction cost increases, but you miss the opportunity for in-depth research and long-term holding.
8️⃣ Too much currency diversification
Although diversification reduces risks, holding too many currencies will weaken the depth of research and increase management difficulties.
9️⃣ Listen to news everywhere and follow the trend blindly
Without your own judgment, go with the flow, it is easy to become a "taker".
🔟 Be self-satisfied and refuse to learn
The currency circle is changing rapidly, and sticking to the rules will only lead to elimination. Learning new knowledge and strategies is the way to survive.
1️⃣1️⃣ Lack of courage, missed opportunities
Indecision will let opportunities slip away from you, decisive execution is needed at critical moments!
1️⃣2️⃣ Don’t dare to buy at the bottom, don’t sell at the top
Lack of market judgment and execution, hesitation and greed are the two enemies of investment.
1️⃣3️⃣ Change strategies at will after multiple failures
Success is inseparable from persistence, frequent changes in mode will only lose direction and ultimately gain nothing.
