Recently, while chatting with several experienced investors, I found that everyone shares a common feeling: there are too many pitfalls in the cryptocurrency world, and one can easily fall into them. I have seen people buy coins because they believed in 'insider information,' only to see the price plummet; some held onto their losses stubbornly, only to end up liquidated; and others frequently switched coins, ultimately achieving nothing. In fact, when I first entered the market, I also fell into many pitfalls. Later, I started with 10U and summarized a guide to avoid pitfalls, earning 6000U in six months without encountering any deadly traps again.
Ordinary people can succeed in the cryptocurrency world, but first they must learn to avoid pitfalls, which is more important than learning to make money. Today, I will share the 3 deadly pitfalls I have summarized with everyone. By avoiding these pitfalls, you will have already surpassed 90% of retail investors.
The first pit: trusting "insider information" and "signals". Many so-called "insider messages" in the crypto world are bait released by scammers, intended to let retail investors take over. When I first entered the market, I heard others say a certain coin was going to pump, so I quickly bought in, only to see it crash the next day, resulting in significant losses. Since then, I no longer trust any insider information and only believe in my technical analysis. Those who give signals are either trying to earn transaction fees or want you to take over their positions; never follow their operations. The second pit: stubbornly holding onto losses, unwilling to cut losses. This is the most common pitfall; many people think that as long as they don’t sell at a loss, it doesn’t count as a real loss. As a result, the more they hold on to their losses, the more they lose, eventually leading to liquidation. From the beginning, I set rules for myself: no matter the situation, if losses reach 10%, I immediately cut my losses and never hold onto losing positions. Once, when the coin I bought suddenly dropped significantly, I cut my losses without hesitation. Although I lost 1U, I avoided greater losses. It was later proven that after that significant drop, the coin price continued to decline; if I had held on, I would have been liquidated long ago. The third pit: frequently switching coins, chasing highs and lows. Many retail investors buy whichever coin is rising, only to see it drop after buying and rise after selling, falling into a vicious cycle. From start to finish, I only focus on three mainstream coins, thoroughly understanding the fluctuation patterns of these three coins, which gives me confidence in my operations. Frequently switching coins is like a bear trying to pick corn; in the end, nothing is gained.
Although there are many pitfalls in the crypto world, as long as we remain rational and establish our own trading discipline, we can effectively avoid them. The reason why a small position of 10U can survive is that I understand how to cut losses in time, not to be greedy, and not to follow blindly. Ordinary people who want to make a comeback do not need to pursue complicated trading techniques; if they can first do the basic work of avoiding pitfalls well, they can gradually accumulate profits.
If you have also fallen into many pits, why not share your experiences in the comments, so everyone can learn from them? Follow me, and in the next issue, I will share more tips on avoiding pitfalls in the crypto world, teaching you how to recognize the tricks of scammers. Avoiding pitfalls is the way to make big money, don’t you agree?@男神说币 #巨鲸动向 $BTC
