Look at those who stare at the market every day, spending a lot of time researching; who doesn't have darker circles than a panda?
Hearing stories about borrowing money to gamble and jumping off buildings from losses has become commonplace, yet why do people still rush in like they are addicted?
This matter must start with the 'illusion of time.' For example, if you hear Bitcoin is going to drop next month, you definitely won't buy now, right? You're calculating in your mind, 'I'll wait until it hits the bottom to buy.'
But when it comes to that moment, you hesitate: 'What if it drops again if I buy now?' As a result, you watch the price hit bottom and rebound, and then you slap your thigh: 'If only I had bought yesterday!' But when it rises 10% tomorrow, you think, 'Buying now would be a loss; better wait for a pullback.'
After a price increase, you regret buying too little before; after a drop, you regret buying too early. This kind of repeated entanglement ends with either missing the opportunity or biting the bullet to buy at the peak, which is the most typical beginner's mentality.
Let's talk about this 'loser's counterattack dream'. In reality, if you deliver takeout or tighten screws, there's no way to make big money.
In the crypto world, a buddy who was just eating skewers with you yesterday might suddenly drive a Porsche after buying a Dogecoin. This illusion of 'nobility has no inherent privilege' is even more intoxicating than a TikTok girl twisting her waist.
What's even more bizarre is that there's no 'win or lose clearance' here. Those who made money think 'I can earn even more' and mortgage their houses to continue; those who lost money think 'next time will definitely recover' and keep gambling.
It's like playing a claw machine; knowing the tricks, yet unable to stop with the sound of clinking coins.
In simple terms, the crypto world is a 24-hour wealth dream factory. People crushed by housing loans and car loans can find the thrill of 'risking it all to turn a bicycle into a motorcycle' here.
Even if you know the big players have the remote control, you still feel you can grab that K-line that changes your fate—after all, who hasn't dreamed of lying down counting money?
1. Don't be arrogant when making profits.
A proud person often destroys themselves in their pride. In the process of investment and finance, if someone becomes arrogant because they made money, they will eventually face a day of loss. The reason is that a proud person, due to their small achievements, will stop listening to the opinions and suggestions of others. Even if the market changes, they will stubbornly believe in themselves, thinking their decisions are always right, and will neglect risk prevention, ultimately likely leading to losses.
2. Don't rush to recover losses.
It's normal to have both gains and losses in cryptocurrency trading. Now that we've talked about profits, let's discuss losses. Profits can make some people proud, while losses can ignite a desire for recovery in many. But recovering losses also depends on timing; if you are too eager to recover, you will make irrational decisions. For instance, some people, eager to recover losses, will bet all their trading funds on a seemingly promising coin. However, the market is inherently unpredictable and uncontrollable; if that coin drops, not only will you fail to recover, but you may also incur even greater losses.
3. Don't be greedy for quick returns.
Accumulating wealth through cryptocurrency trading is a long process. If during this process, you are both greedy and looking to make quick money, it is essentially impossible to achieve wealth growth. Both of these mindsets will lead people to blindly chase profits, and when faced with high returns, they will lose their rationality. But high returns mean high risks; blind investments can only lead to failure. Only by pursuing stable wealth growth can one balance risk and profit.
4. Don't worry about gains and losses.
Investors who are worried about gains and losses often struggle for a long time before investing, fearing their money may suffer losses. Once they finally decide to invest, this mindset becomes even more pronounced. As soon as they see their account balance decrease, they become anxious and irritable; if it decreases too much, they either withdraw their investment or seek insider information, hoping to recover quickly, which usually ends in losses. Additionally, if they hear news about platforms shutting down or withdrawal difficulties, they will worry about their investment's safety, even if their platform has no issues, and choose not to invest further, making it very difficult to continue on the investment path.
Cryptocurrency trading skills: mindset training
There's a saying in business: 'Don't do it unless you're familiar with it.' The same goes for crypto trading; before engaging in real operations, one must master some basic operational knowledge and skills. For friends who want to showcase their abilities in the crypto world, the following knowledge is crucial.
Skill One
Trading requires honesty and integrity. You might wonder what this has to do with trading. Generally, traders like to show off their profit orders and never disclose their loss orders. Because they do not realize that losses are also part of profits. Every aspect of trading requires you to treat it with an honest heart.
Skill Two
Trading requires adherence to rules. As the ancients said, 'Without rules, one cannot form a square or a circle.' Of course, trading has its own rules; if you violate them, you will pay the price of losing your freedom. Trading cannot be driven by emotions or impulses; one must understand when they can trade and when they cannot.
Skill Three
Trading requires patience. Open the trading software, first observe the market trend, check the day's data releases, and look at the current trends—short-term, medium-term, and long-term. Then, start making a trading plan, including entry points, stop-loss points, and profit points.
Skill Four
Trading requires thought. Develop the habit of thinking while trading. Some good habits in trading must be cultivated through hundreds of trades; if you bring some habits from simulated trading into real trading, as long as they are beneficial to your trading, they are not important, but if they hinder your trading, you must make adjustments.
Skill Five
Don't hope to buy at a low price or fantasize about selling at a high price. Some people always want to buy at a low price and sell at a high price; this desperate urge to make quick money is very dangerous and often leads to the opposite result—greed brings no benefit.
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Having navigated the market for many years, I understand the opportunities and traps within. If your investments are not going well and you're feeling bitter about your losses, you can come find me.
