Avoid holding positions, as profits gained from holding may ultimately be lost due to market fluctuations. Do not attempt to guess the market's tops and bottoms, as such profits are often fleeting and will eventually return to the market. Guessing the market's tops and bottoms is dangerous.
Because that may just be halfway up the market trend. Do not overly rely on news to trade, as this is essentially also guessing the market's direction. In profitable situations, do not exit easily, as the market may still have room to rise, and exiting too early may cause you to miss good opportunities. Do not trade emotionally because you see large fluctuations in candlesticks; this may be market manipulation designed to confuse retail investors.
Do not think that what you see in the market is the final wave; as long as your capital is still there, opportunities always exist. Reduce frequent trading, as this can make you lose sight of the big picture, increase the likelihood of mistakes, and lead to higher trading costs. Avoid trading against the trend; correct trades should be held firmly, while incorrect trades should be quickly cut to stop losses. Do not buy simply because prices are low, and do not sell just because prices are high, unless the market trend has changed. Do not treat trading as a primary occupation, and do not overly monitor the market, as the time spent watching often has an inverse relationship with profits. Do not easily trust others' trading advice; in the end, you can only rely on your own judgment. Avoid making big mistakes, such as holding positions with high leverage leading to liquidation, as such mistakes can wipe out all your previous profits. In the cryptocurrency market, stay away from those who consume your attention, especially those who are more common among women. Communicating too much with them will only waste your time and energy.
Without sufficient market awareness, it is difficult to make money even by following others' trades. Years of market experience have proven that only through constant reflection and summarization can one improve the probability of profit. Although the cryptocurrency market has passed its golden age, its profitability is still relatively high compared to other mature investment markets. These suggestions aim to help investors maintain a calm and rational attitude in the cryptocurrency market, avoiding common mistakes and pitfalls.
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