Why can't you make money in the cryptocurrency circle? See if you have fallen into these "pitfalls"
1. Dare not buy when the price of the currency falls
When the price of the currency falls, if you don't seize the opportunity to buy at a low price, you will miss the opportunity to enter the market at a lower price. Fearing market risks and not daring to take action, the result is that you miss the profit of the rebound.
2. Unable to hold after buying
Even if you successfully buy at a low price, you choose to sell because of the short-term fluctuations of the market. Once the dealer washes the market, you may be left out of the car and miss the subsequent surge.
3. Excessive fund diversification
Spreading funds to too many currencies, although it seems to reduce risks, it often fails to concentrate funds on strong varieties, resulting in diluted profits and missed opportunities for skyrocketing.
4. Frequent operations, chasing ups and downs
Frequent buying and selling are often chasing ups and downs, emotional operations. Such short-term frequent transactions are not only easy to miss the big trend of the market, but also may suffer losses due to frequent position changes.
5. Being too greedy and operating with full positions in a bull market
In a bull market, if you blindly chase the rise and increase your positions, you will be trapped once the market experiences a sharp correction, and you will have to cut your losses in the end.
6. Slow reaction when the bull market comes
When the bull market comes, many people fail to react in time and miss the best opportunity to enter the market; when the bull market ends, they continue to hold heavy positions or continue to increase their positions, resulting in failure to stop losses in time when the market goes down, and eventually suffer losses.
If you find yourself with these problems, maybe it's time to adjust your strategy, treat market fluctuations rationally, and avoid emotional operations, so that you can make steady profits in the currency circle.