In fact, many of you who lose a lot in the alpha trading competition do so because

when buying, you hesitate to cut losses when the price drops, always thinking it will bounce back

and then it just keeps dropping and dropping, until you lose dozens or even hundreds of dollars before exiting

actually, if you had cut losses at the beginning, you would have only lost a few dollars

This is called loss aversion psychology

Often, having this mindset leads to significant losses

out of 100 times, if there is even once that doesn't bounce back, you will lose a lot

It's just like trading

we need to execute a strategy and stick to it resolutely

So when we participate in trading competitions, we should formulate a strategy and execute it decisively

for example, only trade in an upward trend

quick in and quick out, sell immediately when it drops, don't fantasize that it will bounce back

assume that every drop will be a waterfall

remember you are here to compete for rewards

not to speculate on cryptocurrencies

As long as you trade in an upward trend, buy and sell immediately, generally, you won't lose too much

combining some techniques can really achieve low loss.