How can a novice avoid losses when speculating in cryptocurrencies?

It is difficult for a novice to avoid losses when speculating in cryptocurrencies. In fact, the concept of speculating in cryptocurrencies is the same as that of speculating in stocks, except that stocks are replaced by cryptocurrencies, which is not much different. Therefore, the iron rule in the stock market, one win, two draws and seven losses, also applies to the cryptocurrency circle.

Where do novices lose money when speculating in cryptocurrencies?

The first loss: Loss due to human greed. If it is not a selective error, a coin will be sold after making 2 to 5 points, and the probability of making money is still quite high.

The second loss: Loss due to chasing ups and downs. I don’t want to sell it when it has risen a lot, and I always hope it can rise a little more. I always want to eat a fish from the head to the tail, and it is best to eat the fish bones together. When I lose money, I hurriedly cut my meat and leave the market.

The third loss: Loss due to cognitive errors. What I see is those air coins that are only a few cents, cheap, and I buy a lot at once, and they fall to a few cents overnight, or even return to zero.

So how can a novice avoid losses when speculating in cryptocurrencies?

There is a famous saying in the cryptocurrency circle that it is harder to keep a coin than to be a widow. It can be seen that the money earned from mainstream coins today is not from speculating on coins, but from hoarding coins, which is a long-term investment. Don't care too much about short-term ups and downs, as long as you hoard valuable coins.

Less speculation, more hoarding of coins! #币安合约锦标赛