As long as you can correct these four faults, achieving more with less effort:
First Fault:
Many people fully invest and cannot stand being out of the market for even a moment, fearing they might miss out on profit opportunities. But by doing this, before you even truly start, you've already lost half the battle; how can you compete with the main players?
Second Fault:
Not knowing when to cut losses, especially for short-term traders. Originally wanting quick short-term gains, but due to greed, they hesitate to cut losses. Short-term trades turn into medium-term, and medium-term into long-term, ultimately getting stuck and becoming a big loss.
Third Fault:
Having unrealistic expectations. When watching the market, they only hope for profits and never consider losses. They are overly happy when in the green and deeply hurt when in the red. Where in the world can one earn without any losses? This is completely being led by the ups and downs of the market.
Fourth Fault:
Poor mindset. When losing money, they become impatient and want to recover immediately, losing their rationality, making frantic trades, and even recklessly going all-in, resulting in even greater losses! By this point, their mindset has already collapsed, making it impossible to think rationally. When it reaches this stage, it’s better to calm down; if it really doesn’t work, just stay out of the market and avoid losses caused by human weaknesses.
If you want to win in cryptocurrency trading, these four fundamental faults must be corrected. Only by correcting them can you outperform most retail investors and establish a foothold in the stock market.