og rose, and I made a lot of money. But then the market turned against me, and the price of Sundog began to fall.output: title: How I Lost $1.7 Million In Crypto (IF*cked Up)

In this video, I will share the five biggest mistakes I have made in my cryptocurrency trading career and the valuable lessons I learned from them.

of Sundog rose rapidly, and I made a lot of profits. However, on October 28, the price of Sundog suddenly fell sharply. At that time, I was still optimistic about Sundog and believed that the price would rebound, so I did not cut my position and continued to hold on.

But the price of Sundog continued to fall, and my profits quickly turned into losses. At this time, I realized that I had made a mistake in my position management. I invested too much money in Sundog, which made me afraid to cut my losses and eventually led to greater losses.

If I had managed my position properly and only invested a small amount of money in Sundog, I would have been able to cut my losses in time and avoid large losses. But because I was too optimistic about Sundog and invested too much money, I eventually lost a lot of money in this trade.

This experience taught me the importance of position management. When you are optimistic about a coin, you must set a reasonable position and not invest too much money. This will help you avoid losing control of your emotions when you lose money and make rational decisions.

Another example is my Pepe trade. At the beginning of 2023, I was very optimistic about Pepe and planned to invest a large sum of money in it. However, due to some external factors, I was unable to transfer funds to the exchange in time and eventually missed the opportunity to invest in Pepe.

Pepe's price rose rapidly, and I watched helplessly as I missed out on huge gains. At that time, I realized that I had made a mistake in my position management again. I was too confident in Pepe and planned to invest a large sum of money, but I did not take into account the possibility of external factors affecting my資金transfer.

If I had managed my position properly and invested a smaller amount of money in Pepe, I would have been able to enter the market in time and obtain greater returns. But because I was too optimistic about Pepe and planned to invest a large sum of money, I eventually missed the opportunity to invest in Pepe and lost out on huge gains.

This experience taught me the importance of position management. When you are optimistic about a coin, you must set a reasonable position and not invest too much money. This will help you avoid losing control of your emotions when you lose money and make rational decisions.

copycat trading strategy error

Miles:

The fifth and final mistake is the copycat trading strategy.

During this cycle, I often copied the trades of other traders, which led me to make some bad trades and lose money. On the contrary, sometimes I had my own unique insights into a certain currency, but I did not trade it myself and eventually missed the opportunity to obtain high returns. This made me realize that the copycat trading strategy is often not effective and may even lead to losses.

If you can learn something from my experience, it is that you must be independent in your investment decisions and not blindly follow the trades of other traders. When you are optimistic about a coin and it has strong fundamental and technical support, don't hesitate to trade it yourself and don't miss the opportunity to get high returns.

I'll share an example of my LUNA trade on April 28. In March, I noticed that LUNA was showing signs of a bottom and began to pay attention to this coin. At that time, I was very optimistic about LUNA and planned to buy a large amount of LUNA.

However, I saw that a well-known trader was selling LUNA, which made me hesitate and eventually decide not to buy LUNA. But LUNA's price continued to rise, and I watched helplessly as I missed out on huge gains.

At that time, I realized that I had made a mistake in my copycat trading strategy. I was too concerned with the trades of other traders and did not make independent investment decisions. If I had trusted my own judgment and bought LUNA, I would have been able to get high returns.

Another example is my LMT trade. At the beginning of 2023, I was very optimistic about LMT and planned to sell a large amount of LMT. However, I saw that a well-known trader was buying LMT, which made me change my mind and decide not to sell LMT.

But LMT's price continued to fall, and I watched helplessly as I missed out on huge gains. At that time, I realized that I had made a mistake in my copycat trading strategy again. I was too concerned with the trades of other traders and did not make independent investment decisions. If I had trusted my own judgment and sold LMT, I would have been able to get high returns.

This experience taught me the importance of being independent in your investment decisions and not blindly following the trades of other traders. When you are optimistic about a coin and it has strong fundamental and technical support, don