“Newcomer's Guide to Avoiding Losses”
Newcomers entering the market often fall into these traps! 📢📢📢
1. Treating bloggers as mentors and going all in at the slightest disagreement
Many people look for 'belief' as soon as they enter the market, and when they see someone analyzing things well, they take them as 'guides'. But remember, bloggers are not your financial advisors, and most of what they post is content, not responsibility. If you blindly follow their trades, any losses are yours to bear.
2. Buying coins based on popularity, chasing the rise, and getting trapped
Once an ad is out, the comments section floods, and when everyone is feeling FOMO (fear of missing out), they can't help but rush in to buy. In fact, right after the ad is posted, it's often the case that the whales are looking for someone to take over their positions.
3. Not doing homework and jumping in without understanding the project
You don't even know what a project is called, what it does, if it has a team, or if there's a risk of a Ponzi scheme… and you go all in? That's not investing; that's called gambling.
4. Thinking that the more bloggers you follow, the safer it is, but it actually gets more confusing
If you follow ten bloggers, five say it will rise, three say to wait, and two say to get out, you'll only end up more confused and operate based on feelings. The key is to have your own judgment logic.
Practical advice: How to improve your judgment?
1. Follow a small group of reliable bloggers and observe their styles and rhythms over the long term
Watch how they analyze, how they avoid pitfalls, and if they do regular reviews. Some may also take ads, but they will clarify and distinguish the main points; these are the ones you can learn from.
2. Research project-related content yourself
For example, which exchange is it listed on? Is there any public financing information? Who is the founding team? Has it been exposed for any scams? Use official websites and white papers to verify through multiple channels.
3. Establish an 'advertisement radar' awareness
Ads are not a bad thing; the key is to recognize them. Once you identify them, it becomes less likely that you'll be led by emotions.
Recognizing ads is your first line of defense for surviving in the crypto world.
Don't rush to make money; first, learn how to avoid losing money. Ads aren't scary; being led by ads is what’s scary.
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