When investing in cryptocurrency, 5 common mistakes made by newbies in the cryptocurrency industry.1. Emotional trading is easily affected by emotions.① Ignoring the stop loss point, trading often wanders between fear and greed instead of a peaceful mind.②Fomo emotion: when you see others making money, you are unbalanced. First you are fearful, afraid of missing out on the big rise, and then you become greedy, chasing the rise and killing the fall.2. Retaliatory trading: If you are eager to make money after a loss, you should calmly reflect first, analyze in advance and be prepared.3. Blindly follow the control operation.Especially for high-leverage contract trading and follow-up operations, if you think you have found a master, you must be aware that others may have faked the data. ① You don’t have your own investment plan. Before buying, you need to know why you are buying, whether it is long-term, medium-term, or short-term. ② Wait for the right price before entering the market. ③ Stop loss price, at what price should you stop loss and leave the market?4. Take-profit price, when it reaches the position to sell, it is recommended to take profit in batches. Otherwise it will be a roller coaster in the end. ⑤Do a good job in position management. 4. Failure to do a good job in fund management and position management. Don't trade in one currency, don't buy a full position at once, buy a part of the position first, and then add more positions later.5. No awareness of risk management. Cryptocurrency is a high-risk investment, and you generally only invest 20 to 30% of your available investment amount. Generally, 70% should be allocated to mainstream currencies, that is, Bitcoin and Ethereum, and 30% should be allocated to small currencies. ① Establish a stop-loss awareness. The first thing that comes to mind is risk, not making money. When you reach a certain position, you should stop the loss. .6. Note: Do not borrow money to speculate in coins. Borrowing money to speculate in coins will easily lead to an imbalance of mentality, which will lead to emotional trading, random operations, and easy loss of money. I like spot goods and want to raise funds together to stock up on spot stocks in the bull market.Click on the avatar, follow me, face the fans, my bull market strategy layout, share for free, become a free blogger, just to increase fans.
