There are nine taboos for cryptocurrency trading. If you have committed more than seven of them, there is basically no hope!
1. All in gambling: betting all your belongings on one coin is too risky! Reasonably diversify your investments to avoid losses.
2. Chasing ups and downs: chasing when the coin price soars, and selling in a hurry when it plummets. Keeping calm and operating according to the plan is the kingly way.
3. Ignoring stop loss: There is no awareness of stop loss, and you still hold on to fantasy when you fall into the abyss. Set a stop loss position and stop loss in time to avoid greater losses.
4. Believe in gossip: listen to the wind and believe it, blindly follow the so-called "inside information". Do more research and make your own judgment.
5. Frequent operations: staring at the market all day long, buying and selling frequently. Excessive trading will only increase handling fees and psychological pressure.
6. Not doing homework: blindly buying coins without understanding the project background and technology. You must do research before investing to avoid stepping on thunder.
7. Emotional investment: you will expand when you make money, and you will lose control when you lose money. Stay rational and avoid being swayed by emotions.
8. Endless greed: Not satisfied with profits, always want to make more. Set reasonable goals and stop when the time comes.
9. Excessive leverage: Borrowing money to trade in cryptocurrencies, using leverage to magnify returns while also magnifying risks. Do what you can and control risks.
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