It is the tempering of time that has transformed me from a newcomer in the crypto space into a seasoned player over more than a decade of honing my temperament in the cryptocurrency market. For nine consecutive years, I have been continuously summarizing and improving my insights in crypto community posts, experiencing the ups and downs of the market. I have become a seasoned player who can stand on my own in the crypto space and have achieved over three years of continuous compound returns. In the future, let’s work together, crypto family, to achieve brilliance! Now, I will continuously share practical experiences that have helped me profit in trading. Today's must-read for crypto retail investors: Change eight wrong concepts to open the door to success in trading! Read it carefully and consider saving it! Take time to study it repeatedly.
Here’s a sincere piece of advice for all retail investors in the crypto space: the following are the 8 most common mistakes made by retail investors. Be sure to read it carefully; it will definitely enlighten you.
1. Too much diversification in positions. A person's energy is limited, and it's impossible to manage too many types of coins. Generally, hold 3-5 types of coins if your investment is below 1 million.
2. Too much concentration in holdings. The sectors must be diversified; opportunities in the crypto space are always rotating. Generally, select 3-5 sectors with high-quality leading coins.
3. Too much self-centeredness. Remember that the market is always right; learn to respect the madness and cruelty of the crypto space, study diligently, and keep improving.
4. Lack of patience is a common issue among many retail investors in the cryptocurrency market. They always prefer to go all in and never leave their positions to wait for the right moment to enter. They can't stand to see others profit; if someone else's coin rises, they become anxious. One must have patience, as the speed of rotation in the crypto space is faster, and opportunities are always present.
5. Indecision. When the market starts to move, you always think too much and hesitate to enter, missing the opportunity to double your investment. In trading, when you see a good opportunity, act decisively, and if you're wrong, exit in time.
6. Not cutting losses. Always thinking that every coin you buy will make money—how can things be that good? The crypto market is volatile and changes rapidly; you must acknowledge your mistakes and cut losses in time to preserve your capital.
7. Not following large funds and failing to understand the intentions of the market makers. Don't panic and sell at the bottom as soon as there's a drop; large funds often conduct a final aggressive shakeout before a rise to drive retail investors out.
8. Thinking that the seven wrong viewpoints above are far from yourself.
These are the eight wrong viewpoints I have summarized for retail investors in the crypto space. Keep them in mind and remember to save them.
The content learned today also needs to be carefully reflected upon. Take time to reflect on the coins you've previously invested in, and I believe you will gain something from it.
If you currently feel helpless and confused in trading and want to learn more about the crypto space and cutting-edge information, click on my profile and follow me, so you won't get lost!
