Afraid of missing out when it rises, afraid of going to zero when it falls—common mistakes made by new investors!
Don’t do the foolish thing of thinking "if it rises, it will rise more; if it falls, it will go to zero." As a newcomer, most people will make the mistake of chasing the rise and panic selling, resulting in a sea of red in their accounts, unsure of how to end it.
I know a guy, in 2023 BTC fell from 60,000 to 40,000. He didn't cut losses, just thought "it will come back eventually." What happened? His account was halved, and in the end, he sold at a loss, afraid it would continue to drop, his mindset collapsed, and he lost everything. You see, with a poor mindset, everything is gone.
To survive, you need to set rules for yourself. For example, take profits after a 30% gain, cut losses after a 10% drop, and enforce it strictly. Don’t let greed and fear dictate your actions. A mindset as steady as an old dog is the long-term path in the cryptocurrency world.
Ultimately, investing is not a gambler's mentality, but discipline. Take every step steadily; patience is the secret weapon of winners.
