99% of people who trade cryptocurrencies lose money for these reasons!
1. No guidance from a mentor; they look at others' advice to make trades, focus on short time frames, and end up chasing and losing;
2. Strong personal opinions; they never trust just one person, look at various analysts' insights, and make trades based on their own synthesis. When they predict correctly, they lack the confidence to enter the market; when they predict incorrectly, they jump in;
3. With a mentor's guidance, they always trade heavily but tend to be wrong;
4. When they are right, they take a small profit and exit; when they are wrong, they get trapped or hedge, ultimately cutting losses at the lowest point or liquidating all positions;
5. They trade well in a volatile market, but after one day of heavy trading and losses, they develop a fear of the market, believing every day is one-sided and hesitate to trade, even though the market is actually volatile; suddenly one day they think it's volatile, but it turns out to be one-sided;
6. In a one-sided market, they predict correctly but always miss the entry point, and when they finally make a trade, it first goes through a wave of volatility, resulting in small profits that lead to frustration. When they try to catch a retracement, they end up getting trapped. Once trapped, they hope it will at least retrace to break even or exit with a small loss, knowing the trend has clearly reversed, yet they still get deeper into the trap like a frog in boiling water, ultimately cutting losses at the highest or lowest point.
Brother Feng has created a chat room on Binance; friends who are interested can come and take a look. Spot trading tips and contract strategies will be shared irregularly. To enter the chat room, click on the three dots in the upper right corner of contracts → Chat Room → Search room ID (69241991) to join the chat room
