10 reasons why you must lose money when playing contracts in the cryptocurrency industry! When playing contracts in the cryptocurrency industry, many people initially think they are geniuses and fantasize about getting rich overnight with just one pull of leverage. But what about reality? Nine out of ten, it is a case of liquidation, zeroing out, and a mental breakdown. I have seen too many people fall into the trap of losing money, including myself. This is also Long Ge's personal experience. These are not empty talk, they are all painful lessons. I hope our brothers will not repeat the same mistakes again. 1. Greed is not just about profits, profits turn into losses: Remember that time when the market was good, your position doubled and you thought to yourself, 'Wait a little longer, there will definitely be more gains.' However, in a blink of an eye, it suddenly fell back and went straight from making losses to even bursting your position. Too greedy, always wanting to eat every profit, but ignoring the vicious force of market reversal at any time. 2. Fear of not stopping losses, small losses turning into big losses: After opening a position, the price drops slightly, and you comfort yourself by saying "it's okay, it will rebound soon". However, the deeper the decline, the more reluctant you are to stop losses, and only regret it when the position is liquidated. We are all like this, reluctant to admit our mistakes, always thinking that holding back will make us recoup our losses, but the market is not considerate. 3. High leverage amplifies risk and returns to zero in one wave: Novices love to pull high multiples, thinking that even small amounts of capital can turn the tide, but the market fluctuates by 10%, and you directly sell out. Think about those days when the account was reset to zero overnight with a 50x or 100x increase, who hasn't experienced the heartache? Leverage is a double-edged sword, losing is much faster than making. 4. Emotionally chasing the rise and killing the fall, buying high and selling low: During a bull market, seeing others making money, one cannot help but chase high and buy low; The bear market panicked and then sold at a low level. So what? Always buy at the mountaintop and sell at the valley bottom. The cryptocurrency industry operates 24/7 without rest, and when emotions arise, it is easy to make such low-level mistakes. 5. Over trading, transaction fees eat up profits: opening dozens of orders a day, thinking that more operations bring more opportunities, but in fact, transaction fees and capital fees are like ants gnawing on bones, slowly swallowing up your small profits. We all love the thrill of brushing orders, but wake up, the exchange is the biggest winner. 6. Follow the trend and be cut off if you don't have your own opinions: when the big shots in the group call for orders, just follow them; If a friend recommends it, just go ahead. So what? They shipped it out, and you became the order taker. There are "teachers" and "signals" everywhere in the cryptocurrency circle, but the only one truly responsible for you is yourself. 7. The sunk cost fallacy, the more you lose, the more you increase your holdings: If you are not satisfied with your losses, you always want to replenish your holdings and spread the costs, fantasizing about a rebound to recoup your costs. So what? The more you make up for it, the deeper it becomes, and you are heavily in debt. How many people have gone from "small losses" to "bankruptcies" and regretted it when they woke up. 8. Ignoring market manipulation, market makers harvest individual investors: Unlike the stock market, the cryptocurrency market is not regulated, and it is too common for market makers to pull and smash the market. You think it's a normal fluctuation, but it's actually a situation set by someone else. Especially with AirCoin, under high leverage, a wave of manipulation can leave you penniless. 9. Luck as ability, continue to gamble if you make a short-term profit: once you make a lot of money by luck, you feel like you are a master and continue to increase. So what? I ran out of luck and lacked strength, so I quickly returned it. There are too many "overnight geniuses" in the cryptocurrency circle, but those who rely on luck have cooled down after long-distance running. 10. Lack of position control, full position consolidation: regardless of position, one consolidation, thinking that this is the only way to make big money. As soon as the market shakes, you will be completely wiped out. Think about those nights when stocks exploded after 'all in', that emptiness and powerlessness, who hasn't tasted it? Discipline is the king.