"Once you enter the crypto world, you realize how foolish you are" - this is a direct quote from a new fan who told me.
He said he initially thought buying spot was the safest, with no leverage, and wouldn't face liquidation, so he wouldn't lose too much. However, three months later, his account shrank from 30,000 to only 8,000, and he didn't even dare to tell his family.
I asked him how he lost money.
He said: 'I just follow what those people on TikTok say; whoever calls for a rise, I buy; whoever says it's time for a bull market, I go all in, and I learned to add positions like others, but the more I add, the more I lose...'
I replied to him: 'You’re not incapable of doing spot trading; you just don’t realize that this market doesn’t make money based on enthusiasm.'
If you don't understand candlesticks, trends, and chips, it’s no different from going to a casino.
