I found that most retail investors have a particularly fatal bad habit. Yes, it's fatal.
When the coin starts to drop, they hesitate to sell, always wanting to wait for a rebound before selling.
Then today there’s a rebound, but they didn’t buy, and it drops two points, they didn’t sell.
Tomorrow it rebounds and then falls again, and they say they had no opportunity to sell; it drops three points, they didn’t sell.
The day after tomorrow it rebounds by one point, and they say it hasn’t gone back up so they won’t sell.
Now, they are in trouble, slowly dropping by dozens of points, and all the previous profits are gone, resulting in a loss.
This is not the correct trading method; as long as you don’t cut losses, no matter how much you earned before, just one mistake and it’s all gone.
I have researched this; all the successful traders cut their losses when the market drops, immediately admitting their mistake and starting over.
I do the same, unless it’s a super confident value investment, daring to add more when it drops.
Otherwise, every time before placing an order, you must prepare a stop-loss plan in advance; otherwise, one mistake could be fatal, and that’s not what a mature trader does.
Trading is something you do for a lifetime.
If you want to survive in the market for a long time, you must get rid of this fatal bad habit. Always prepare a stop-loss plan before opening a position, rather than fantasizing "I’ll sell when it rebounds" after a drop.
If you can’t find direction in the crypto world and don’t know which coins to buy, following me is a good choice.
Keep an eye on: LTC SOL TRUMP XRP CREAM TST ARDR
