10 Common Money-Losing Habits in Cryptocurrency Trading: Eliminating Them Can Significantly Improve Returns:
1. Don't put all your eggs in one basket
Betting all your assets at once can lead to liquidation. Invest no more than 1-2% of your funds in each trade, and always set a stop-loss line.
2. Don’t chase every trend
Frequently switching between different coins will only lead to confusion. Focus on studying a few major coins and trade with a plan.
3. Holding onto losses
Clinging to losing positions is equivalent to gambling. Set your stop-loss and profit targets before entering a trade.
4. Be wary of low volume coins
Obscure coins can easily trap you, with large spreads between buying and selling. Only trade mainstream coins with high volume and good liquidity.
5. Not keeping trading records
Without summarizing, you'll keep repeating mistakes. Record each trade's entry and exit points along with the reasons for gains or losses.
6. Fatigue trading
Lack of sleep reduces judgment. Ensure sufficient sleep and trade when you are alert.
7. Blindly trusting influencer recommendations
Following others blindly will lead to losses sooner or later. Always do your own research before making moves.
8. Not cashing out profits
Profits on paper are not real money. Once you reach your target, you should gradually cash out.
9. Overcomplicating charts
Piling up too many indicators can interfere with judgment. Focus on the basic price trends.
By eliminating these bad habits, your trading skills will naturally improve. The financial market tests discipline the most.
Although the market is slightly sluggish now, opportunities will come. Stay calm and wait for a correction. When the time comes, I will guide everyone to target high-profit opportunities in altcoins for bottom-fishing. Doubling your investment is definitely possible. Like and comment, and I'll help you seize the big opportunities in this bull market.
Today's focus: ETH LTC KAITO BTC
