12 deadly traps on the road of cryptocurrency trading, avoid them and make sure you make money!
Don’t rush to buy the bottom when the market plummets: Don’t act blindly because of a sharp drop, see the trend clearly before making a move.
Stop when you are ahead: Don’t be greedy when you make money, stop in time to avoid losses.
Adjust strategies to deal with losses: Don’t be discouraged when you lose money, find the problem, adjust strategies and start again.
Patiently hold high-quality coins: Don’t trade frequently, long-term investment is more stable. Rational analysis avoids
Chasing up and selling down: The good performance of coins in the past does not mean that it will continue in the future, and the market is volatile.
Emotional trading is a taboo: Don’t let emotions influence your trading decisions, and staying calm is the key.
Be down-to-earth and avoid the dream of getting rich overnight: Coin trading requires patience and strategy, and getting rich overnight is just a dream.
Allocate funds reasonably to avoid all-or-nothing: diversified investment is safer, don't always think that one order determines the win or loss.
Set a stop-profit point to avoid greed: stop profit in time when you make money, don't wait for a callback to regret.
Analyze before taking action after a loss: don't blindly cover your position, find the problem and then solve it.
Believe in the strategy and avoid checking the account frequently: let the transaction proceed naturally, don't always stare at the account.
Be flexible and avoid superstitious methods: there are always surprises in the market, don't think you have found a "universal formula" because of one success.
You need to stay calm, think rationally, be flexible, avoid these traps, and move forward steadily to achieve profits on the road of currency speculation!
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