Six key points to avoid financial losses
1. Lack of long-term perspective
In fact, we should avoid paying too much attention to short-term fluctuations in interests, but should establish a thinking framework for long-term investment, with long-term as the main focus and medium- and short-term strategies as the supplement.
2. Blindly follow the trend of trading
When the world is hotly discussing a certain currency, people tend to blindly follow the trend to buy. Once the market reverses, they hesitate when the loss reaches 10% or 20%, and are forced to cut their losses until the loss expands to 50%, 60% or even more.
3. Lack of independent judgment
Today, listen to the recommendation of this currency by the big V, and buy that currency based on gossip tomorrow. This investment method without independent analysis and judgment is destined to be difficult to avoid losses.
4. Unstable mentality
Many people enter this market expecting to get rich quickly, but are not prepared for the risk of zero funds. Once a loss occurs, they begin to complain and blame, and cannot deal with it calmly.
5. Lack of learning
Learning is an indispensable wealth in investment. Only by continuous learning can we better grasp market dynamics and avoid being eliminated by the market.
6. Unclear investment strategy
Before investing, we need to formulate a clear investment strategy, including which currencies to choose, when to buy, how to allocate positions, how to stop losses or cover positions when losing money, how to reduce positions in batches or continue to hold after making profits, etc. Only with such a set of strategies can we stay calm in different situations and avoid making wrong choices due to emotions.
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