Blindly chasing highs and selling on lows is the main reason for being taken advantage of
In the cryptocurrency world, many newcomers blindly chase high prices out of fear of missing out on a rising market, often buying at peak prices and then getting trapped. Others, fearing market corrections, rush to sell when they see prices drop, leading to increased losses.
This behavior of chasing highs and selling lows is the most effective way to be taken advantage of. It aligns perfectly with the rhythm of market makers or large investors—inducing retail investors to buy at high points and sell at low points, creating huge trading volumes and profit margins.
Real veterans know how to control their emotions and patiently wait for the right entry and exit points, not allowing short-term market fluctuations to lead them by the nose.
They pay more attention to the long-term value and fundamentals of projects rather than being swayed by superficial price fluctuations.
Recognizing this and controlling the impulse to chase highs and sell on lows is a crucial step for retail investors to become stable investors.
