In the cryptocurrency world, remember these words👇🏻

The more you lose in trading, the more cautious you should be about adding to your position. The crypto market has many traps; many traders become very anxious after being stuck in a position. Instead of considering an exit, they keep adding to their positions to lower their average cost, hoping for a rebound to break even. This actually goes against common sense. The process of decline cannot be reversed in just one or two days; adding to a position is merely self-comfort. The more anxious you are, the easier it is to make mistakes, and in the end, you'll regret it. Why would you dare to add to your position at this point?

Discipline in trading must be strictly enforced. Many traders will create detailed plans before trading, such as determining at what market drop they will take action and at what price point they will enter a specific coin. However, during trading, they are often easily swayed by stimuli and temptations.

If you can't even execute your own plan properly, then you are not trading in the crypto market but rather at a casino. Most of the time, the operations made at the moment are likely to be wrong. Avoid frequent trading in cryptocurrency.

Many traders who suffer severe losses are those who engage in very short-term trading. Conversely, those who treat trading as a form of entertainment, without advanced skills, will not incur significant losses even if they just wait patiently.

Avoid continuously increasing your position size; in the cryptocurrency world, throwing money around is common, but it can affect your life. However, this is a very real depiction. Before you have the ability to make money, do not keep adding to your account, especially if it affects your standard of living.

Losses indicate that there is a flaw in your trading system. At this point, you should not try to fill the hole by increasing your position. Instead, you should reflect and calmly explore an effective method before increasing your efforts again.