Don't be single-minded in trading cryptocurrencies; 99% of people have made these mistakes. Correcting these bad habits will ensure consistent profits! Read carefully! It will save you from taking detours!
1. When you encounter a good coin but clearly have no buying point, you really want to buy in, afraid it will fly away, even chasing the price high to enter the market. At this moment, your eyes are only focused on it, this is obsession!!
2. When doing value investing, you only focus on the price. When the price rises, it’s great, it meets expectations, but if the price of the coin drops, you will selectively ignore that the price is at the end of a major cyclical upward momentum structure and has already reflected its valuation. You desperately seek various fundamental positives to support your viewpoint, this is obsession.
3. When you are trapped in a trade, you suddenly become a very determined bull, unwilling to let anyone speak bearishly about it. You are controlled by emotions and have lost the ability for rational judgment; you only want to listen to bullish analysis, this is obsession.
4. You clearly made the wrong judgment; here you could cut losses and leave the market in the short term, but you keep staring at your account because you only allow yourself to leave with profits, not with losses, resulting in deeper losses, turning short-term into long-term, this is obsession.
5. A coin once hurt you, and you will hate it for a lifetime; even when great opportunities arise, you are unwilling to buy it again, this is obsession.
6. When you sell a coin in short-term trading but believe there is still significant upside potential, even if you could chase it back now and only increase your cost by two points, you stubbornly refuse to chase, this is obsession.
7. You think about buying coins every day, even if there is no buying point, you must buy, buy casually, even spend the last penny in your account, this is obsession.
8. No patience, unable to hold onto coins; if there is no short-term movement, you can't stand it, this is obsession.
9. When you have been following a certain pattern for a long time and have lost for a long time, yet still refuse to change your mindset, this is obsession.
11. When you have made 18 points, and there is actually a signal of weakening in the short-term rise, but you insist on reaching 20 points before taking profit, this is obsession.
12. You are trapped with a 10% position, but you do not understand the structural trend, you are unwilling to cut losses, insistent on continuing to add positions, determined to make money on this trade, resulting in a heavy position trapped until it’s too late, this is obsession.
13. When you obtain a success due to survivor bias from a specific instance, you will stubbornly believe that this method is feasible, but subsequent practice repeatedly proves you wrong, yet you are unwilling to admit it, going your own way, this is obsession.
14. When a trade deviates from your expectations, you will regret and stew over it for a long time, repeatedly reliving it, this is obsession!!
Additionally, I remind everyone! The cryptocurrency market is full of uncertainties and challenges, but it also holds potential opportunities. Investors should fully understand the relevant risks when participating in cryptocurrency investments, remain calm and rational, and respond to market changes with a sound strategy!
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