1.Looking to get rich quick:
• Avoid FOMO and invest with a long-term perspective.
• Diversify your investments across different cryptocurrencies to reduce risk.
• Educate yourself about the projects you invest in, don’t just follow hype blindly.
2. Copy-trading “influencers”:
• Use influencers’ insights as a reference, but always do your own research before investing.
• Understand that influencers might have different risk tolerances or financial goals than you.
3. Trying to time the market:
• Dollar-cost average your investments to mitigate the impact of market volatility.
• Set stop-loss to protect your gains and limit potential losses.
• Take advantage of bear markets to accumulate assets at potentially discounted prices.
4. Going up the “risk-curve”:
• Slowly increase exposure to higher-risk assets based on your experience.
• Avoid allocating a significant portion of your portfolio to highly speculative or unknown tokens.
• Keep a balanced portfolio with a mix of low, medium, and higher-risk assets.
5. Laziness:
• Don't miss opportunities from airdrops, trends, and narratives; actively participate and leverage potential gains.
• Avoid laziness and take the time to research and analyze data before making investment decisions.
• Stay informed about the latest news and developments in the crypto space.
6. Not taking profit:
• Set clear profit-taking targets based on your financial goals and risk tolerance.
• Reinvest a portion of your profits into more stable assets to diversify and preserve wealth.
• Avoid being too greedy and recognize that markets can be unpredictable.
7. Unhinged biases:
• Stay open-minded and be willing to change your views based on new information.
• Avoid investing based solely on emotions or attachment to a particular project.
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