Ten Forbidden Practices in Cryptocurrency Trading: Always Remember!

Chasing After Prices, Operating in the Opposite Direction

Always buying when prices rise and selling when they fall will ultimately lead to being played by the market. The market goes up and down; do not let emotions influence your decisions.

Not Setting Profit and Loss Limits, Easily Losing Everything

Without setting goals and stop-losses, you cannot control risk. If you earn but do not cash out in time, or if you lose and do not decisively stop losses, the result will be continuous losses.

Frequent Trading, Pursuing Short-Term Excitement

Constantly entering and exiting the market to gain profits through frequent trading. In fact, this kind of "short-term trading" often consumes your funds and patience.

Entering the Market with a Gambling Mindset

Approaching cryptocurrency trading with a "let’s take a gamble" mentality not only increases risk but also makes it easy to lose direction in the market, ultimately leading to failure.

Blindly Following Trends, Trusting Rumors in Trading

Just hearing someone else's news and then chasing prices is risky; their decisions may not suit you. Every investor's situation is different; independent analysis is key.

Investing All Funds at Once, Lacking Diversification

Investing all your money into a single cryptocurrency at once is very dangerous. If the market experiences adverse fluctuations, the consequences could be dire.

Blindly Trying to Buy the Dip, Ignoring Market Conditions

Going in to buy the dip without any thoughts, especially when the market is unclear, can often lead to being trapped.

Ignoring Fundamentals, Relying Solely on Technical Analysis

Relying only on technical analysis while ignoring the project's fundamentals and market conditions. Investment is comprehensive; both technicals and fundamentals need to be balanced.

Knowing What to Do but Always Failing to Do It

Knowing the right actions but always failing to execute due to fear or greed. This "unstable mindset" can easily lead to failure in the market.

Focusing Only on Short-Term Fluctuations, Ignoring Long-Term Potential

Focusing on the short-term fluctuations of cryptocurrency prices while neglecting long-term potential can prevent you from making correct investment decisions, ultimately missing out on long-term gains.

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