Bull Market, Three Ways to Lose Money

In each round, the number of people losing money in a bull market far exceeds that in a bear market.

Affected by market sentiment, most people's hearts are restless; they feel that if they don't go all-in now, it will be too late, and they constantly feel they can't be slower than others, or else they won't make any money. This leads to a flurry of chaotic operations...

1. Frequent Switching of Positions

Switching positions is one of the reasons for losing money in a bull market. Seeing one coin rise, they switch to it. As a result, just after switching, it drops 30%; a day later, their original coin rises 300%, and then they switch back... only to see it drop 200% again...

In the end, the bull market has passed; not only has the coin disappeared, but the principal is also lost. There is a saying: the coin doesn’t rise because you haven’t sold, and the coin doesn’t fall because you haven’t bought.

In a bull market, each coin's rise and fall happen at different times; just hold on and wait for your coin to rise. Want to know the rise of all coins? It's simply a dream.

2. Love for Short-Term Trading

The mindset of most people: sell high, buy back low.

Here comes the problem: what if it doesn’t drop back?

For the sake of 30% profit, they miss out on 3x, 5x, or even more profits; is it worth it?

It’s hard to understand why some people think they can buy low and sell high?

The reality is that most people who think about buying low and selling high end up selling and then seeing the coin rise, and they buy back at a high price... had they known this earlier, why bother in the first place?

3. Randomly Opening Contract Leverage

Even if you are not optimistic about a project, I still wouldn’t recommend shorting it. Why? Because the forces behind the crypto world are constantly changing.

A fundamentally terrible project might survive due to some support and could even surge dozens of times.

Conversely, a project with great data might plummet by 99%; just look at how many price spikes exchanges have experienced in recent days.

Absolutely don’t touch it!

This article has been repetitive and verbose, just touching on the key points.