One thing you should never do when trading in the cryptocurrency circle: holding orders
Holding orders means that when the transaction is unfavorable, you are unwilling to stop loss in time, but continue to hold on with a fluke mentality, hoping that the market will reverse. However, doing so often brings greater risks and losses.
Holding orders may lead to the following adverse consequences: First, it may cause losses to continue to expand, beyond the originally bearable range, seriously affecting the safety of funds; second, it will affect the trading mentality, making people fall into anxiety and entanglement, and it is difficult to make rational judgments; third, you may miss other better trading opportunities because funds are occupied on losing orders.
In order to avoid holding orders, it is necessary to strictly implement stop-loss strategies, remain rational and calm, respect market trends, and not confront the market. At the same time, we must constantly improve our trading skills and risk awareness, learn to admit mistakes and adjust in time, so that we can walk more steadily and longer on the road of trading.