Reviewing, the secondary market profit retracement
Trading cryptocurrencies really needs to be based on one's own personality
Reflection One: After thinking about it, making a profit in cryptocurrency trading requires being willing to sell, to sell boldly, to continue cashing out, and not to be greedy, which is quite important for me.
Deep down, I might be thinking of slightly expanding the scope while ensuring that I do not lose my principal; if things go too far, it's not good.
I might find it easier to accept profit retracement, but I cannot accept losing my principal.
Recently, I traded a bunch of secondary ones: $UMA , #API3, MUBARAK, #SUSHI , #TREE, #NEWT , #STO, #DOGE, etc.
I suffered a big loss on MUBARAK, retracing about 15-20% of the total profit; it feels like this coin has a grudge against me, as soon as I make a little profit, it drops, truly without any bottom line, while the remaining secondary coins are all profitable.
When trading cryptocurrencies, one should not be obsessed, I feel too attached; when I incur more losses, I tend to hold longer, resulting in even bigger losses. Sometimes, when my hands itch, I even add to my position.
Reflection Two: One must understand how to stop losses and not be obsessed; trash is still trash.
