The Pitfalls of Coin Trading

Today we are going to talk about a very interesting thing. Why do many people always fall when they buy coins and rise when they sell them? It feels like I'm being targeted by the market. Why am I so unlucky?

In fact, many people have encountered this problem. Let’s briefly analyze the reasons.

First of all, when many people look at currency prices, they focus on the short-term fluctuations of 15 minutes and one hour, and do not look at the long-term trend at all. Even if I glance at the daily line occasionally, I still don't understand what it means.

Secondly, some people are particularly easily influenced by what others say. They take whatever others say without verifying whether the news is true or false. Especially those big Vs with tens of thousands of fans. What they say seems right to these people and they have absolutely no judgment of their own.

Furthermore, when some people buy coins, they always think about making a lot of money, making it ten times or a hundred times. But as soon as the currency price drops by ten or twenty percent, I can't stand it anymore and start to panic.

Also, when some people buy coins, they don’t dare to buy those coins that are popular and have risen well. Instead, they buy coins that seem to have no future, and they end up losing even more. In a bear market, they like to chase high prices and buy; in a bull market, they hope to wait for price correction before buying.

Finally, I think the most important point is that when many people speculate in currencies, they not only invest all their own money, but also borrow money to speculate. They don't want to work hard, they just want to make a fortune by speculating on currencies and live a life of yachts, beautiful women, and luxury cars. This kind of person, to be honest, is not at a loss!

Therefore, when we speculate in currencies, we must have a good attitude and don't always think about reaching the sky in one step. Learn more knowledge, look at the long-term trends, and don't be fooled by short-term fluctuations. Also, don’t easily believe what others say, you have to make your own judgment. The last thing is, don’t borrow money to speculate in currencies, don’t always think about making a fortune, the most important thing is making money steadily.

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