Look at those who stare at the market every day trading stocks and cryptocurrencies; they spend a lot of time studying, and who doesn’t end up with dark circles under their eyes, even worse than a panda?

The story of borrowing money to gamble and jumping off a building after a margin call sounds familiar, but why do people still rush in like they're addicted?

This situation needs to be explained from the perspective of 'time distortion.' For example, if you hear that Bitcoin is going to drop next month, you definitely wouldn't buy now, right? You're thinking, 'I'll wait until it drops to the bottom before buying in.'

But when that moment actually arrives, you hesitate: 'What if I buy now and it drops again?' As a result, you watch the price hit rock bottom and rebound, and at that moment, you're slapping your thighs in frustration: 'If only I had bought yesterday!' But when it goes up 10% tomorrow, you think, 'Buying now would be a loss, better wait for a pullback.'

After a rise, regretting buying too little earlier; after a drop, regretting buying too early—this cycle of indecision often results in either missing out or reluctantly buying in at the peak of prices, which is a typical rookie mindset.

Now let's talk about the 'loser's comeback dream.' In reality, if you're delivering food or tightening screws, there's no way to make big money.

In the crypto world, a friend who was just eating skewers with you yesterday might suddenly drive a Porsche because they bought Dogecoin. This illusion of 'nobility has no inherent privilege' can be more intoxicating than watching a TikTok girl dance.

What's even more bizarre is that there's no 'win-lose checkpoint' here. Those who make money think 'I can earn even more' and mortgage their house to keep going; those who lose money think 'next time will definitely recover' and continue to gamble with borrowed funds.

It's like playing a claw machine; even though you know the trick, the sound of coins keeps you going.

To put it bluntly, the crypto world is a 24-hour wealth dream factory. Those suffocated by mortgage and car loans can find the thrill of 'taking a gamble and turning a bicycle into a motorcycle' here.

Even if you know the big players are controlling the market, you still believe you can catch that pivotal K-line that changes your fate—after all, who hasn't dreamed of lying down and counting money?

1. Don't be proud when making profits

A proud person often ends up destroying themselves in their pride. In the process of investment and wealth management, if a person becomes proud after making money, there will always come a day when they lose money. The reason lies in the fact that proud individuals may ignore others' opinions and advice after achieving a bit of success. Even when the market changes, they stubbornly believe their decisions are correct and neglect risk prevention, which can ultimately lead to losses.

2. Don't rush to recover losses

Making profits and losses in trading cryptocurrencies is normal. Having talked about profits, let's discuss losses. Profits can make some people proud, while losses can trigger a strong desire in many to recover their losses. However, recovering losses depends on timing; if one is too eager to recover, it can lead to irrational decisions. For instance, some people may rush to recover losses by betting all their cryptocurrency funds on a single coin that seems to have great potential. The market is inherently unpredictable and uncontrollable; if that coin drops, they may end up losing even more instead of recovering.

3. Don't be greedy for quick gains

Accumulating wealth through cryptocurrency trading is a long process. If during this process one is both greedy and eager for quick profits, it will be nearly impossible to achieve wealth growth. Both mindsets lead to a relentless chase for profits, causing one to lose reason when faced with high returns. However, high returns also mean high risks; blind investments only lead to failure. Only by pursuing stable wealth growth can one balance risk and profit.

4. Don't be overly cautious

Investors who are overly cautious often struggle for a long time before making an investment, fearing that they might lose their money. Once they finally make the decision to invest, this mindset becomes even more pronounced. As soon as they see a decrease in their account balance, they become anxious and irritable. If the decrease is significant, they either withdraw their investment or start seeking insider information, hoping to recover quickly, which usually ends in losses. Furthermore, if they hear news about platforms shutting down or difficulties in withdrawing funds, they worry about the safety of their investments, even if their platform is perfectly fine, leading them to stop investing altogether, making it very hard to continue on the path of investment and wealth management.

Cryptocurrency Trading Skills: Mindset Training

There's a saying in business: 'Don't do it if you're not familiar with it.' The same goes for operations in the crypto space. Before entering real trading, one must master some basic operational knowledge and skills. The following knowledge is crucial for friends who want to showcase their skills in the crypto world.

Tip One

Trading requires honesty and integrity. You might wonder what this has to do with trading. Generally, traders like to flaunt their winning trades while never revealing their losing trades. This is because they don't realize that losses are also part of winning. Every aspect of trading needs to be approached with an honest heart.

Tip Two

Trading requires following rules. As the ancients said, 'Without rules, you cannot achieve order.' Of course, trading has its own rules, and violating them comes at the cost of your freedom. Trading cannot be driven by emotions or impulses; one must understand when to trade and when not to.

Tip Three

Trading requires patience. Open your trading software and first observe the market trends, check the data released for the day, and assess the current trends—short-term, medium-term, and long-term. Then, start formulating a trading plan, including entry points, stop-loss points, and profit points.

Tip Four

Trading requires thought. Develop the habit of thinking during trades. Good habits in trading take many transactions to develop. Some habits from simulated trading are irrelevant once you move to real trading; if they hinder your trading, you must make adjustments.

Tip Five

Don't expect to buy at a low price or fantasize about selling at a high price. Some people always want to buy at a low price and sell at a high price; this eager mentality to make money can be very dangerous, often resulting in the opposite outcome. Greed brings no benefit.

To sail through the sea of books, one must be diligent; to navigate the path of learning, one must persist. You will surely return laden with knowledge. Helping others is akin to helping oneself; I am the sunny day, willing to walk with you. Here, we not only teach fishing but also give fish! Daily updates on cryptocurrency trading insights, don’t miss out.