• Frequent short-term trading (Overtrading)

    • Hazard: Getting addicted to 5-minute charts, not only are the fees astonishing, but it will also make you lose direction in the market's fluctuations.

    • Livermore's advice: "Money is made sitting, not running."

  • Full margin high leverage (High Leverage)

    • Hazard: Leverage amplifies greed but also reduces your margin for error to zero. Just a 1% reverse fluctuation can lead to liquidation.

    • Advice: Leverage is a tool, not a lifeline; never go all in during high uncertainty.

  • Blindly following 'shitcoin' projects (FOMO Buying)

    • Harm: Jumping in after seeing a certain MEME coin surge on social media usually leads to becoming a bag holder.

    • Truth: 99% of shitcoins will eventually go to zero; don’t gamble your principal on that 1% chance.

  • Refusing to Cut Losses

    • Harm: Fantasizing that 'one day it will come back'. In the crypto world, this behavior can lead to a 90% or more shrinkage of your principal.

    • Suggestion: You must set strict stop-loss levels, protecting your principal like you would your life.

  • Poor Asset Security

    • Harm: Keeping assets on insecure exchanges or authorizing unknown wallet contracts casually.

    • Motto: "Not your keys, not your coins."

  • Emotional Trading

    • Harm: Eager to 'break even' after losses and increasing positions (revenge trading), or becoming overly inflated after profits.

    • Suggestion: The market doesn't care about your emotions; maintaining a cool rationality is the ticket to entry.

  • Not establishing your own trading system (Lack of Strategy)

    • Harm: Buying coins based on rumors and following big influencers' predictions. Profiting without logic is just luck, and in the end, you will lose based on your capabilities.

    • Core: Establish a set of criteria for screening, entry, holding, and exit that belongs to you.

  • Ignoring the Macro

    • Harm: Increasing positions against the trend during the Fed's interest rate hike cycle or deep pullback after halving.

    • Suggestion: Go with the trend; don’t try to oppose the big trend.

  • Trading with Borrowed Money

    • Harm: Borrowed money comes with 'time pressure' and 'interest pressure', which can completely destroy your mindset and distort your actions.

    • Guideline: Only use 'affordable' spare money for speculation.

  • Overly deifying a project or belief (Blind Faith)

    • Harm: There is no religion in the crypto circle, only interests. When the logic of a project changes, holding onto so-called 'faith' will only lead to sinking with the ship.