Guide to Avoiding Pitfalls in the Cryptocurrency World, What Have You Experienced?

1. Impulsive Buying

Seeing a coin you like, even though it's not a good entry point, you can't help but want to chase the price up. As a result, you only focus on that coin and miss out on other better opportunities.

2. Value Investment Trap

When doing value investment, you only look at the price; if it goes up, you think it's great, but when the price drops, you look for various fundamental positives to justify it. You ignore that the coin price is at the end of a major cycle with declining upward momentum, and you end up getting trapped deeper.

3. Emotional Loss of Control After Being Trapped

When your trades go wrong, emotions take over, and you become a staunch bull, unable to hear any bearish voices. Rational judgment disappears, and you only want to listen to those who are bullish.

4. Not Admitting Mistakes

You clearly made a wrong judgment and should stop loss and exit, but because you only allow yourself to profit and not allow losses, you end up losing more and more, turning short-term losses into long-term ones.

5. Past Trauma

A coin has hurt you in the past, and you no longer want to touch it. Even when a great opportunity arises, you turn a blind eye to it.

6. Regret of Missing Out on Selling

You see a coin that you sold short-term, thinking there’s still a lot of room for growth, and even if you chase back, it would only increase your cost by two points. But you refuse to chase, resulting in a missed opportunity.