In the cryptocurrency circle, if you want to become a qualified trader, you must first understand one fact: holding on to losses and running away when you make profits will only make you a loser.

Psychologists point out that people hate losses far more than they like profits, and this phenomenon is called "loss aversion". In trading, this psychological factor has hurt many people.

When the account is floating loss, we often feel that this is an actual loss, and we are unwilling to close the position, and even increase the position in the hope of recovering; and when the account is floating profit, we are afraid that the profit will run away, and we are in a hurry to stop profit. This mentality will only make you unable to make money, but the loss will increase.

To become an excellent trader, you must master the following 14 principles:

1. Don't expect to escape risks by luck, that will only make you deeper; don't hesitate to miss opportunities, opportunities don't wait.

2. Long-term investment is as stable as gold, short-term operation is as flexible as silver, and band operation is like a dazzling diamond. You can make more money if you grasp it well.

3. Leave some room for yourself, be calm, and respond flexibly to market changes.

4. Investing is like eating fish. Don't be greedy. You must leave some profits for others.

5. Frequent buying and selling are prone to losses, and indecision is chronic blood loss. Both should be avoided.

6. The investment mentality is the most important. Stay calm to make wise decisions.

7. The market often appears in despair, develops in hesitation, and finally ends in madness. Learn to enter and exit at the right time.

8. Greed will devour profits, and fear will make you miss opportunities. Only by controlling emotions can you make money steadily.

9. There are often opportunities hidden in the market decline. Have cash in hand and be ready to seize opportunities at any time.

10. Buy with confidence, hold with patience, sell with determination, and take action when the opportunity arises.

11. Don't be superstitious about indicators. They are only useful to those who understand; they may mislead those who don't understand.

12. Be sure to set a stop loss point and control the loss within an acceptable range.

13. When everyone is afraid, it may be the time to buy; and when everyone is crazy, you should consider retreating.

14. Newbies only look at price fluctuations, veterans focus on changes in trading volume, and experts can see through market trends. Only by constantly improving yourself can you become a winner.