What is the reason why people who speculate in cryptocurrencies keep losing money?
According to statistics, more than 90% of the leeks
lose money when speculating in cryptocurrencies.
My personal feeling is that it may be more than 90%,
maybe more.
Based on my own experience of losing money,
one of the important points is chasing high prices.
When a coin is at the bottom,
I feel that it is rising slowly and I don’t want to buy it.
When it rises by half,
I feel that it is too high and dare not chase it.
However, when it rises to the pressure level,
I get impatient and think that it will continue to rise.
As a result, it falls as soon as I chase it in.
I am trapped in it, watching the loss of money every day,
I can’t bear it in my heart, and I sell it again.
As a result, I sell it at the bottom again.
I am unwilling to see it rise for the second time,
and chase it again.
As a result, I encounter the second retracement again,
and I am slapped in the face back and forth,
and I keep losing money.
Solution to the problem:
Find out your past transaction list,
and separate the losing buying points and the profitable buying points for statistical summary.
When opening a position to buy in the future,
only do the buying points with a high probability of success,
and give up the buying points with a low winning rate.
