Some traps in the crypto world, have you ever fallen into them? Don’t repeat the same mistakes!

Impulsive chasing

Seeing a coin you like, knowing it’s not a good entry point, but unable to resist chasing it. As a result, you miss out on other better opportunities and may end up stuck at a high position.

The trap of value investing

Only focusing on the price, feeling it has value when it rises, and comforting yourself with "fundamentals are good" when it falls, ignoring that the larger cycle may already be at the end of exhaustion, leading to deeper losses.

Emotional turmoil after being stuck

After being stuck, emotions spiral out of control, with no rational thinking, only listening to bullish voices and rejecting any rational bearish opinions. Ultimately, you get deeper and deeper.

Not admitting mistakes, losing more

Clearly judging incorrectly, should stop losses in time, but stubbornly holding on, not allowing yourself to incur losses, resulting in short positions turning into long ones, exacerbating losses.

Past injuries

A coin once hurt you deeply, leaving shadows in your heart. Even if better opportunities arise later, you ignore them and miss out on the chance to turn things around.

Regret of missing the sell

After selling short, watching the coin continue to rise, but due to mindset issues, unwilling to chase it, resulting in missing out on more profits.

Frequent trading

Even if there are no good entry points, you can’t help but trade, always operating with a full position, ultimately accumulating risk while profits are minimal.

Lack of patience

Unable to hold onto coins, frequent operations, only wanting to make quick money, ultimately resulting in more losses than gains.

Fixed mindset

A certain model has been losing for a long time, yet unwilling to change your thinking, still stubbornly sticking to old failed methods.

Gambling mentality

After consecutive losses, feeling unwilling, the gambler's psychology kicks in, continually increasing bets, ultimately getting deeper and deeper.

The dilemma of taking profits

Made a 15% profit, short-term exhaustion signals appear, but insist on waiting for 20% before selling, resulting in missing the best profit-taking opportunity.

The trap of averaging down

A 10% loss on a position, unwilling to stop losses, blindly averaging down, ultimately getting heavily stuck and hard to recover.

Key to avoiding pitfalls: adjust your mindset and be flexible!

If the direction is wrong, decisively stop losses and readjust strategies; if the direction is right, also dynamically assess to appropriately take profits or continue holding; do not be rigid, and do not trade with emotions.

The road in the crypto world is long and winding; avoid pitfalls to steadily move towards success!