Why do 99% of people lose money trading cryptocurrencies?

How many of these 9 fatal mistakes have you fallen for?

1️⃣ Blindly chasing highs

Seeing the price of a coin soar and impulsively jumping in, ignoring the risks at the top, ultimately buying at a high. Remember: an increase does not equal a buying point; it’s cold at the top.

2️⃣ Misjudging buying points

Not differentiating between the strengths of different coins, not looking at the big cycle, and entering the market indiscriminately. Real opportunities come from strategically positioning in undervalued coins.

3️⃣ Impulsive trading

Unable to resist entering even when it’s not a buying point, lacking patience, and trading out of impulse will ultimately lead to losses.

4️⃣ Getting emotional

Being fixated on a particular coin, believing in a specific price point, and letting emotions override signals will inevitably lead to being taught a lesson by the market.

5️⃣ Refusing to reflect

Blaming the market for trading mistakes, not reviewing or summarizing, making the same mistakes repeatedly, and lacking growth potential.

6️⃣ Lacking technical skills

Entering and exiting based solely on feelings, lacking basic analytical skills, turning investing into gambling. Both technical knowledge and mindset are essential.

7️⃣ Insufficient strategy

Not having a clear buying and selling plan, acting blindly; the size of the account is not the key, but precise execution is the hallmark of a skilled trader.

8️⃣ Panicked trading

Losing composure during price fluctuations, buying and selling chaotically, and ruining your rhythm. Staying calm provides an opportunity to catch the real targets.

9️⃣ Relying on luck

Not preparing and just depending on luck will eventually lead to being mercilessly harvested by the market. To survive in the long term, one must change their way of thinking.