In the contract trading market of the cryptocurrency world, it seems that new traders blowing up accounts has become a common phenomenon. Why does this happen? In fact, there are many reasons behind it that new traders should be wary of.
Anyone playing in the cryptocurrency world can potentially blow up their accounts, even so-called 'experts' are no exception. Recently, the Hawkeye Capital lost over 5 million, and those who followed them lost more than 10 million. During a simulated following on Binance Square, 10 people were followed, and 7 of them didn't last even half a year before losing everything. In everyone's eyes, those revered as experts will also face money-losing situations. But the reason they can stand in the market is that they have experienced failure and can face occasional huge losses normally. Moreover, after making money, they will take half to buy other assets off-market, with only a small portion lost.
However, new traders are completely different; they often ignore risks. As soon as they enter the market, they think about how much they can earn, believing the risks should be small and that they can easily profit. At first, they might really make money, but good times don't last long, and within a few days, they will lose all their profits and even their principal.
In the cryptocurrency square, you often see posts telling stories of starting with tens of thousands and earning tens of millions, sharing various strategies and methods. But no one dares to demonstrate a real trading operation from start to finish. You should know that gaining fame and traffic is actually very simple; showcasing a real trading operation completely will definitely attract traffic that is no worse than any cryptocurrency KOL. But why doesn't anyone do this? Because they simply can't do it; they just brag about how profitable their methods are based on results.
Think carefully, if there were really good ways to make money, who would easily share them? Just like if you had gold to mine at home, would you loudly announce it to others? When you have the method that can make you the richest among your friends within a year, would you share it with them? The answer is obviously no; quietly making money and showing off after success aligns with human nature.
Many new traders treat contract trading as gambling, hoping to strike it big. But when luck is not on their side, any strategy is useless. Those with a good mentality can lose a few times and still bounce back; those with a poor mentality, once they lose everything, can only leave this circle forever, with Bitcoin's rise and fall no longer concerning them.
Bitcoin now seems to have a very high price, one being 880,000 RMB, but some predict it might rise to 10-20 million in 10 years. As long as you're not sure you can make 10 million in 10 years, holding Bitcoin is a worthwhile choice, much better than spending the money or gambling on contracts leading to liquidation.
In short, new traders blowing up accounts in contract trading is mostly due to ignoring risks, having a poor mentality, and blindly believing in so-called money-making methods, without truly understanding market rules and doing proper risk control. If you want to stay in the cryptocurrency world for the long term, steady learning and rational handling are the right path.
