🚨Deadly Truth! The 7 Major Pitfalls I Fell Into in the Crypto World That You Must Avoid!

Just entering the market or facing repeated losses? The detours I've taken can help you avoid falling for half a year.

1️⃣ Chasing Hot Coins

Frantically chasing price increases, resulting in buying at high points and selling at low points. Popular coins are already overhyped; replace blind following with rationality!

2️⃣ Not Doing Homework

Investing money without understanding the essence of the project. First ask: What problem does it solve? Is the team reliable? Can its value be sustained? Don't blindly trust "DYOR" as empty talk.

3️⃣ Ignoring Risk Management

Once put 70% of my funds into one coin, resulting in devastating losses. Now strictly control single trade risk to 1-3%, diversify investments, and always set stop-losses.

4️⃣ Overtrading

Thinking that more trades mean more profits, resulting in high fees and chaotic decisions. Instead, trading less but more precisely yields steadier returns.

5️⃣ No Trading Plan

Not setting goals or stop-losses and relying purely on feelings for buying and selling. Now, every trade must have a clear strategy; if it doesn't fit, walk away.

6️⃣ Ignoring Warning Signals

Holding on stubbornly when projects collapse and teams vanish. The truth has taught me: hope is not an investment strategy; timely stop-losses are the way to go.

7️⃣ Emotions Control Everything

Greed leads to leverage, fear leads to premature selling. Now, stay calm first, trust the strategy not the feelings.

❗Summary: Making mistakes is inevitable, but repeating them is deadly. Learn from the lessons so your crypto journey can go further!