What is the essence of going all-in? It is gambling! It turns investment into a one-way ticket to losing everything!
Why is this the worst thing to do in the cryptocurrency space?
Zero margin for error: The cryptocurrency market is highly volatile, with frequent black swan events (policies, hacks, project crashes). Going all-in means you have no buffer to deal with unexpected events; a single mistake results in total loss.
Mindset will collapse: When all your wealth is staked in one place, your mindset becomes extremely distorted. A slight increase makes you want to run, fearing profit loss! A slight drop triggers panic selling, or you stubbornly hold on until it becomes a faith-based loss. Rational decision-making goes out the window.
Huge opportunity cost: Betting everything on one coin or one trade means you completely forfeit all other potential opportunities. When a real golden opportunity arises, you can only stare blankly.
If you're confused about your trades, wanting to recover losses, or hoping to double your account, follow Yi'an's lead to layout your strategy in advance, enjoy the market's appetizers, and avoid leftovers!
