1. Try to do less T. It is a common problem for retail investors to like to do T, especially after being trapped, they always fantasize about making money back through T. You can take stock of your investment targets. Is it only the money you made back through T after being deeply trapped? The end of doing T is either selling at a loss or catching a falling knife. Especially in a downward trend, it is better to cut losses than to cover positions and do T. For ultra-short-term, especially do less T. After you do T, you cannot sell again on the same day, and it is very likely that you will be sold at a loss or stuck the next day.
2. Learn to take a break when the market is not good. When investing in the cryptocurrency circle, most of the time is garbage time. When the market is falling and bearish, the best mode is to do nothing and keep an empty position. You only need to do it for 1-3 months a year, with high efficiency and high returns, and you will surpass most people. I know this is difficult. Cryptocurrency speculation is difficult. The cryptocurrency circle is not a place where more work will get more rewards. You must be decisive and not be too greedy for the market.
3. You must learn to stop loss and admit mistakes. Retail investors are most afraid of losses. Most retail investors will hold on to their losses, and the result will only be more and more losses. Therefore, you must set a stop loss level, which can be 5% or 10%. When the stop loss level is reached, you must stop loss unconditionally and withdraw in time. You must understand the logic behind your purchase. If it is short-term speculation, admit your mistakes and run away immediately after making a mistake, otherwise you will lose money very quickly. Many people lose money because they make long-term investments after short-term losses, which leads to deeper and deeper losses.
Finally, if it is a medium- to long-term investment, you need to think about whether the buying logic is right, what is the reason for buying, the long and short environment of the currency, and whether the fundamentals of the currency have changed. If there is no change, you can stick to your logic and continue to hold and observe. If the logic changes, get out first. Don't wait for the fundamentals and trend of the currency to reverse. You can't wait.
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