99% of cryptocurrency traders lose money! How many of these 8 pitfalls have you fallen into?
First, blindly chasing highs, it's no wonder you get burned!
When retail investors see the price of a coin skyrocket, they get greedy, afraid of missing out on a chance to get rich, only to end up buying at a high price and getting burned badly! Remember: "If a coin skyrockets, buying into it is just paying the market makers!"
Second, not being able to distinguish between good and bad coins, it's just giving away money!
Many people buy coins based solely on feelings, without researching the project's background or technical strength, resulting in buying worthless coins or coins that go to zero. "Not checking the white paper or the team before buying a coin is like throwing darts with your eyes closed!"
Third, can't control your hands, frequent trading is like suicide!
Clearly not at a buying point, but still itching to trade, resulting in repeatedly losing to commissions, and a mentality that keeps collapsing. "Feeling uneasy if you don't trade for a day? Do you think the crypto world is a casino?"
Fourth, refusing to learn, it's no wonder you become a retail investor!
Some people rely solely on luck when trading cryptocurrencies, never learning investment knowledge, and when they lose money, they blame the market makers and the market. "Not learning but wanting to make money? Do you think the crypto world is your personal ATM?"
Fifth, no skills, can you win just by mentality?
Trading cryptocurrencies isn't about guessing; you need to know how to read candlestick charts and understand indicators, otherwise, you can't even tell whether the market makers are accumulating or distributing. "If you don't study technical analysis, how can you play mind games with market makers? It's no surprise you get burned!"
Sixth, no strategy, buying and selling based on feelings!
Not knowing when to enter or exit, resulting in either getting stuck or missing out. "Without a trading plan, what kind of coin are you trading? It's just giving the market free targets!"
Seventh, exploding mindset, panicking at every drop!
Panic when seeing market fluctuations, afraid to buy when they should, and reluctant to sell when needed, ultimately watching their losses grow. "If your mindset is unstable, it's better to exit early! The crypto world is specialized in treating all kinds of fragile hearts!"
Eighth, excessive anxiety, missing opportunities!
Staring at the screen all day, afraid of missing any fluctuations, resulting in high mental tension, and not being able to hold quality assets. "Can anxiety make you money? It will only make you lose faster!"
Want to recover losses? Want to profit? Position yourself in potential coins, publicly available, leading you to catch the main rising wave of the bull market!
