Bitcoin has sounded the charge for the currency circle, but why do beginners frequently lose money in the process of trading coins?
Lack of professional basic knowledge: Anyone who wants to succeed in any industry should master the professional knowledge and skills required in that industry. Similarly, for Bitcoin investment, understanding relevant knowledge is particularly important, especially for beginners. Without professional knowledge, the risk of loss will be very high, like a blind person groping in the investment market.
Lack of experience and patience: Due to the unfamiliarity of beginners with the market and the lack of reference experience, they often want to make a profit urgently. Once they establish a position and make a small profit, they will immediately close the position, often missing out on larger market opportunities. Even if they open a position again, the profit will be greatly reduced.
Over-trading due to unstable mentality: In the investment process, when beginners find the market unfavorable to them, they are easily panicked and only consider reducing losses, thus blindly opening and closing positions. Beginners often do not have time to consider how many trades they have made and whether they have made a profit. Quality of trade is more important than quantity.
Opening positions without a plan: Some beginners try to invest all their funds in the market at once through unexpected methods, but once the market experiences drastic fluctuations, it may lead to a total loss. Some people start large-scale operations in pursuit of small profits, adding positions irregularly, causing the funds to be unable to flow. It is important to leave room for oneself, especially in the ever-changing market of investment.
Unwillingness to set stop-loss: Many beginners, out of a mentality of luck, are unwilling to set stop-loss, and as a result, they helplessly watch the price deviate from their expectations. When the price experiences a sharp drop or rise, they are left with nothing but regret. Some people even continue with a crow mentality, always expecting the price to turn around, but in this case, it is wise to change attitude in time.
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