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Yesterday early morning, a friend watched helplessly as a steep long red candlestick crashed down, and 50,000 yuan in their account completely disappeared within just 15 minutes. It’s not due to poor technical skills, nor slow news reactions — frankly, it’s because they stepped into the most common traps in trading. The lessons they summarized afterward are worth reflecting on for everyone who’s been in the crypto world.
**Lesson 1: Don’t trade when your condition isn’t good**
Tired, irritable, just had an argument, or just drank some alcohol — at these times, your mind simply can’t focus. Judgment will collapse instantly, but the market won’t be gentle just because you’re tired. It will only amplify every mistake you make. If you’re sleepy, go to sleep. The market is there 24/7 waiting.
**Lesson 2: Don’t trade in a noisy environment**
Family watching TV together, or hanging out with friends — in these multitasking states, it’s easiest to miss key entry or exit points, or to slip and place the wrong order. Trading requires focus; distraction is like gambling with real money.
**Lesson 3: Don’t chase opportunities outside your plan**
"Looks like it’s going to rise, let’s go for it!" or "Everyone’s making money, I can’t fall behind!" — this impulsive FOMO is the most efficient tool for harvesting new victims. Don’t trade markets you don’t understand, and opportunities beyond your original plan don’t belong to you.
**Lesson 4: Avoid key time windows**
Major economic data releases, statutory holidays — during these times, market liquidity is already thin, and extreme volatility can appear at any moment. The smartest move is to stay away, not to take risks trying to catch the wave.
**Lesson 5: Stop trading after consecutive losses**
After several losses in a row, your mindset will completely distort. The gambler’s mentality of "must win back immediately" will take over your decision-making, leading only to bigger holes. When you lose, close the app, go outside, and stay calm — that’s more important than anything.
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In the end, **controlling your hand is protecting your principal**. The crypto market fluctuates every day, and opportunities are never lacking. The train is always on its way. True profit-makers are often those who know when to stay put.