Similarly in the crypto world, some people profit while others face liquidation. Here are 2 points to see if you might be at risk.
Many people in the crypto space continue to trade even after liquidation for the following two reasons:
1. Always believing they can get rich overnight.
Everyone thinks they are the next big success story, able to turn $20 into $37 million. In their eyes, trading contracts offers a chance for huge returns in a short period compared to other investment methods. This desire for quick profits makes it hard for them to let go even after facing liquidation.
Just like some people see others making a fortune from contracts overnight, they fantasize that they too could become lucky, leading them to continue investing even after liquidation.
2. A mindset of not wanting to lose.
After liquidation, many people are reluctant to accept failure, believing that they were just unlucky or made a mistake and that they will definitely win back their losses next time. This unwillingness to accept defeat drives them to continue trading in an attempt to recover their losses.
Trading contracts requires a focus on steady gains, strictly setting take-profit and stop-loss levels. If you incur a loss, cut it quickly; if you make a profit, don't be greedy. This way, you can gradually increase your capital.
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