It is the refinement of time that has transformed me from a newcomer in the cryptocurrency market into a seasoned player through over ten years of tempering in the cryptocurrency market. For nine consecutive years, I have continuously published summaries and improvements in cryptocurrency communities, experiencing the ups and downs of the market. I have achieved compound growth for more than three consecutive years. In the future, let's work together with family in the cryptocurrency market to achieve brilliance! Now, I will continuously share practical experiences that have helped me make money in trading coins. Today's must-read for cryptocurrency retail investors: Change the eight erroneous concepts, and the door to success in trading coins will open! Please read carefully and consider saving it! Take time to learn repeatedly.
I give a sincere piece of advice to all retail investors in the cryptocurrency market: the following are the 8 most common mistakes made by retail investors. Be sure to read them carefully, and you will gain clarity.
1. Positions are too dispersed; an individual's energy is limited, and managing too many coins is simply impossible. Generally, hold 3-5 types of coins with less than 1 million.
2. Holding too many concentrated coins; you must diversify your portfolios. Opportunities in the cryptocurrency market are always rotating, generally selecting 3-5 tracks with quality leading coins.
3. Being too self-centered; remember, the market is always right. Learn to respect the madness and cruelty of the cryptocurrency market, study hard, and keep improving.
4. Lack of patience; this is a common problem among many retail investors in the cryptocurrency market. They always like to go all-in and never leave room in their positions to wait for the right moment to enter. They can't stand seeing others profit; when others' coins rise, they get anxious. You must have patience; the rotation speed in the cryptocurrency market is faster, and opportunities are always there.
5. Indecisiveness; when the market starts to move, one always thinks too much and hesitates to enter, missing the opportunity to double. When trading coins, act decisively when you are sure, and exit promptly if you are wrong.
6. Not cutting losses; always thinking that every coin you buy can make a profit—how can it be that good? The cryptocurrency market is volatile and changes rapidly. Acknowledge your mistakes and cutting losses in time is key to preserving your capital.
7. Not following large funds; try to understand the intentions of the market makers. Don't panic and cut losses at the bottom when the price drops; large funds often conduct a final intense wash before pushing the price up, shaking off retail investors.
8. Thinking that the seven erroneous viewpoints above are far from oneself.
The above are the eight erroneous viewpoints of retail investors in the cryptocurrency market that I have summarized. Remember them and be sure to save this.
The content learned today also needs to be reflected upon carefully; reflect on the coins you invested in before, and I believe you will gain something.
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