Where do you think the root of losses in cryptocurrency trading lies?

For example: You have 1 million in assets, and you use 700,000 to buy a certain coin.

The next day, the coin drops by 1%, and you lose 7,000, but you don’t mind; it will eventually go up again.

On the third day, it drops another 3%, and you lose almost 20,000; you are undeterred because it will bounce back sooner or later.

On the fourth day, it rises by 2%, and you recover over 10,000 of your capital; you smile, feeling everything is under control.

On the fifth day, it suddenly hits the daily limit down, and you lose nearly 70,000; you start to feel uneasy, fantasizing about it hitting the limit up the next trading day.

On the sixth day, it rises by 4%; you breathe a sigh of relief, thinking there are still patterns to follow in cryptocurrency trading.

On the seventh day, it rises by 1%, and you start to feel hopeful.

On the eighth day, it rises again by 1%; although you feel the increase is slow, at least you are breaking even, so you are content.

On the ninth day, it suddenly drops by 8%, and during that period, it even hits the limit down; you start to panic, doubting whether you picked the right coin.

On the tenth day, it drops by another 4%, and you begin to get angry.

On the eleventh day, it stops dropping; you firmly believe that your coin price is about to rebound.

However, in the following week, it does not rebound but instead fluctuates sideways; you go online to learn about cryptocurrency knowledge and based on your understanding, you think this sideways movement is the so-called accumulation by the main force!

After holding the coin for another month, not only did the price not go up, but it also dropped almost 8 points; you begin to feel numb, thinking that if you could just break even, you would withdraw your money and never trade cryptocurrencies again.

But things did not go as hoped; the coin you bought continues to drop, and at this moment you finally see a new knowledge point – stop loss!

Your heart aches, and you struggle internally, unsure whether to leave or stay.

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