In the world of cryptocurrency trading, frequently changing positions is a major taboo. People often say, "Those who can buy are apprentices, but those who can sell are masters," which emphasizes the importance of timing when selling. When buying a cryptocurrency, one should set their expected price level, and knowing when to take profits is crucial. However, many novice traders (often referred to as "chives") tend to make the mistake of being reluctant to sell when the price rises, and once it drops, they are eager to cut losses and switch positions, often resulting in greater losses than gains.

In the process of trading cryptocurrencies, there are five major taboos to keep in mind:

All-in: This is an extremely dangerous behavior, putting all funds into the market; once the market fluctuates, one will face enormous risks.

No stop-loss: Stop-loss is an important part of risk management. Not setting a stop-loss means that in unfavorable market conditions, one cannot cut losses in time, which can lead to significant losses.

Counter-trend trading: Operating against the market trend often leads to losses. The market has its own operation rules, and counter-trend trading will only increase risks.

Frequent trading: Frequent buying and selling not only increases transaction costs but also makes one prone to emotional trading decisions, resulting in losses.

Gambler's mentality: Treating cryptocurrency trading as gambling and pursuing overnight wealth will only lead one astray, ultimately falling into the mire of losses.

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