Avoid emotional trading, which is a fatal mistake made by many cryptocurrency investors. Many people make wrong decisions because of impulse and struggle with themselves.
For example, if the currency that has just been sold rises rapidly, they are eager to buy it back at a high price to try to recover the loss.
In contract trading, if the forecast is bearish but the market rebounds, or bullish but the market falls, they will hastily close the position and reverse the operation. This will repeat, and the funds will gradually flow away, and the road to return will be long and difficult.
In the face of trading failures, the key is to stop losses in time, admit mistakes and exit quickly. One of the secrets to successful trading is to control losses and prevent them from excessively eroding the principal. When you can decisively stop losses, profits will naturally accumulate gradually.
Therefore, as an investor, maintaining emotional stability is a necessary quality, which can help you make more rational and more stable trading decisions.
