I've been one of those people, the people that buy at the high points of crypto and then sell low, losing my money and then later on losing out on a good amount of profits which I could've made. I'd like to know some of the reasons that people do this, besides doing it to cut their losses as that one is my reason.
Thanks guys!
You have said one reason, people tend to sell their coins at a lower price because they are cutting their losses. How about if you are always putting a stop loss until you have lost all of your money? What do you feel?
One reason why people are doing this BUY HIGH, SELL LOW action is because of lack of knowledge in cryptocurrency and in trading in particular. This mostly happens in trading because they are not using anything but they will just buy a certain coin and wait for it to increase. When you are just using your instinct in trading, you are just distributing your money to everybody.