Recently, I met many spot players who suffered a lot of losses. I talked to them and found that most of them were "tricked" by others.
Because there is a popular saying in the market - you have to hold on to spot.
Hold on to spot? This is simply nonsense!
I often see people advocating holding on to spot on the Internet and in those currency groups. I have been in the industry for so many years, and there are many people playing coins around me. Especially at the end of 21, all kinds of monsters and ghosts emerged. Whether it is spot or contract, they don’t even have the most basic concept of the bull and bear cycle of the market, and they just shout to hold on to it all day long. What is the result? Once the black swan event breaks out, these people disappear without a trace, leaving a bunch of retail investors crying there.
Now when I see those who advocate holding on to spot, I feel angry. They say things like "As long as you don’t cut your losses, the dealer can’t cut you", "You can make money if you hold the spot from the bottom of the bear market to the top of the bull market". These words sound good, but they are difficult to do!
Those who advocate holding on to spot, if they don't understand the conversion of bull and bear cycles, or only look at the daily cycle and below, don't come out to hurt people. Spot can't be played with small cycles at all. If you want to play, play quietly by yourself, don't come out to express your opinions. Because as long as you have a lot of fans, even if you fart, there will be people who believe you and follow you. Then those who follow you will have no way out.
Why don't you recommend holding on to spot?
The market has cycles. If you can really copy the bottom, it's okay to hold a long wave. But the key is that many retail investors can't copy the lowest part at all, and they are chasing ups and downs. So we have to pay attention to the staged top of the market, just like when this wave of market was around 70,000, I saw that it was going to pull back. When I reminded of the risks, some people sprayed me and said that I was wrong to sing short.
I was really speechless. These people don't even have the most basic defensive awareness. Even for spot, you have to have a sense of risk.
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