Bitcoin has sounded the charge in the currency circle, but why do novice currency speculators continue to lose money?
1. Lack of basic professional knowledge: No matter who wants to continue in a certain industry, they should have the knowledge and skills required by the industry. Similarly, when investing in Bitcoin, you need to understand and learn relevant knowledge, especially for novices. Without professional knowledge, you can only fumble around in the investment market like a blind person, and the probability of losing money is very high.
2. Lack of experience and impatience: Since novices are not familiar with the market and have no operating experience to refer to, they always want to make profits immediately. After opening a position, they will close the position immediately if there is a slight profit. This kind of operation will often miss bigger profits. Quotes. Even if you open another position, the income will be greatly reduced.
3. Excessive trading due to unstable mentality: During the investment process, novices will easily panic once they find that the market is not favorable for them. They only want to reduce losses, so they blindly open and close positions. Novices have no time to take into account how many times they have made transactions and whether they have done so. Profit. Trading is not about quantity, it should be about quality.
4. Opening a position without a plan: Some novices want to take a surprise and invest all their funds at once. If the market suddenly experiences a big shock, they will lose everything. There are also cases where, because of small profits, they start to make big moves and add money irregularly, resulting in difficulty in the flow of funds. You should leave yourself a way out in everything, especially in the unpredictable investment market.
5. Unwillingness to set a stop loss: Many novices are unwilling to set a stop loss because they are lucky. As a result, they watch the price deviate from their expectations. When encountering a sharp drop and a sudden rise, they are not only sad but regretful. Some even act like ostriches and wishfully expect the price to reverse. In this case, it is better to turn back in time.
I believe that most currency friends have read too many articles on technical mentality, but they are still confused and don’t know where to start. For detailed discussions, please contact the author. The author never guarantees accuracy or bragging. Use Facts speak for themselves. You can search for academicians in the currency circle all over the Internet, read all the reference suggestions and ideas given by academicians in the currency circle, and compare them with the broader market. I believe you will have an understanding of my strength.
This article is exclusively contributed by academicians of the currency circle and only represents the academicians’ exclusive views.
