In the past few days, several of my followers who added me were ruined by incorrect averaging down.
They told me: I listened to others calling for averaging down, saying it would rally, but the direction was completely wrong, and the more I averaged down, the more I lost, ultimately being wiped out by the market.
Honestly, this isn't a coincidence. It's a triple whammy of listening to the wrong people, misreading the direction, and stubbornly averaging down.
The biggest pitfall in the crypto world has never been the market but rather giving decision-making power to the wrong people. Averaging down is not a lifesaver; it's a death sentence.
Many people blindly listen to others call trades and recklessly average down, without looking at the market structure, rhythm, or sentiment... A single word from someone saying 'stay steady,' and you add to your position, only to find out they already ran away, leaving you as the bag holder.
If the direction is wrong, why average down? This isn't saving yourself; it's feeding bullets to the market.
