(1) Greed

Most investors "predict" that prices have fallen "too low" or even "too low" before prices actually fall sharply. So they buy bravely, and buy more when prices fall again. They even bring out their half-understood "divergence theory" to try to convince or numb themselves and their friends who hope to agree with their views.

The result is, of course, being stuck in the mud and never being able to get out. Some investors also make the same mistake when the market is rising sharply.

(2) Herd mentality

Some investors in digital currencies lack the ability to think independently. They may spend thousands of dollars to attend a lecture given by a so-called "famous speaker". But they are unwilling to sit down and think carefully about their investment and trading philosophy or logical methods. When they hear friends say that the market is bullish, they blindly follow suit.

(3) Generalizing

"Hard-mouthed but stubborn" is enough to describe this type of investors. They hold on to one or two phenomena, add what they think are reasonable inferences, and then "stick to their own opinions" and never repent.

(4) Short-sightedness

A few successful investors will focus on the long-term trend first, and then look back at how to operate in the short term. However, most unsuccessful investors do the opposite, thinking that learning is too slow and useless, and just want to make a profit "as soon as possible" and run away.

Many people who are new to the investment market have heard such warnings: no matter whether they are doing long-term or short-term investment, they should first observe the monthly chart, then the weekly chart, then the daily chart, and then the 8-hour chart, the 4-hour chart, and the 2-hour chart. However, many investors often listen to this advice and let it go in one ear and out the other.

1. Select the currency type, do not trade multiple currencies at the same time

Although there are many virtual digital currencies on Jubi.com, as a small retail investor, you should not speculate on multiple currencies at the same time because of your limited ability, energy and chips. You can only speculate on 2 or 3 currencies at most. If you speculate on multiple currencies at the same time, when buying or selling in an emergency, you will not be able to make too many judgments on the general trend and will make the operation first, which will make it very easy to make mistakes during the operation.

2. Try not to operate during rapid rise and fall

When the market is rising rapidly, you will think that the price of Bitcoin will double soon, and life will become very good soon. At this time, you will have only one thought in your mind, "I need to top up quickly, I need to buy more." When the market is falling rapidly, you will feel as if it is about to be cut in half and the sky is about to fall. At this time, you will have only one thought in your mind, "I need to sell quickly, or I will have nothing to wear if I continue to lose money."

3. Don’t be too stressed, keep a balanced mindset

When trading cryptocurrencies, it is best not to hold all your positions. It is best to hold 10% or leave 1/5 of your positions to make up for the decline. If you bet too much, it will be fine if the price goes up, but if it goes down, you will fall into a passive situation and feel scared.

4. Give yourself a military order and stop profit and loss in time

Set an acceptable profit for yourself, and sell it immediately when it reaches the profit point, no matter if it is still rising. In many cases, in order to make a little more money, people often die in this way. Human greed is human nature. Be sure to stop the decline and take the profit. Many times, when we make decisions, we are very happy, so we leave it to the computer to do it. We set the selling price and let the computer execute it (trading platforms all have this function)

There is no such thing as making money without losing money when trading virtual currencies. Don't just think about how much you can earn, but also set a range of losses that you can bear and be mentally prepared. This is your own discipline and you must abide by it.

5. Be sure to take the time to learn technical analysis

At present, many investors in the cryptocurrency world are IT geeks who don't know much about finance and stocks. However, they hope that their operations can bring profits, so various free or paid technical analysis groups are very popular. Instead of basing your gains and losses on the words of others, it is better to spend a few days to learn various technical indicators for stock trading.

6. Don’t go all in or all out in a short period of time

All operations should be divided into time and phases. For example, if you want to buy 10 bitcoins, you can divide the operation into five times, complete the operation within an hour, or complete the layout within a few days.

7. Try to keep your independent thinking

Don't read too many other people's analysis, everyone says something different. If other people's opinions are different from yours, it will make you upset. The price trend and all future predictions are 50-50, half right and half wrong, just believe in yourself. Cryptocurrency speculation will be affected by the rise and fall of emotions, we must use our own wisdom to go long or short, so as to make money and earn coins.

8. Be patient

Good attitude, everything is good