Remember this before will entry after getting lose 👍#TradfiTradingChallenge #CryptoMarketDrops150KLiquidated

​1. Revenge Trading
This is the most deadly psychological mistake. When experiencing a loss, there is an impulsive urge to quickly recover the lost money. You might be tempted to open new positions with much higher risks, such as switching from spot trading to futures with high leverage. Instead of recovering your capital, revenge trading almost always leads to bankruptcy (liquidation).
​2. Borrowing Money to "Buy The Dip"
Seeing coin prices plummet drastically often triggers the illusion that "this is the right time to load up." Avoid using credit cards, online loans, or borrowing money from relatives to buy more crypto assets. If the price continues to drop, not only will you suffer investment losses, but you will also be entangled in debt and interest payments.
​3. Blindly Averaging Down
Averaging down is a strategy of buying an asset when its price is dropping so that your average purchase price becomes cheaper. This can be a good strategy only for coins with very strong fundamentals (like Bitcoin or Ethereum). However, if you do this with "shitcoins" (low-cap/meme coins) or projects with an unclear future, it is equivalent to throwing your money into a black hole. As the saying goes: never catch a falling knife.