Crypto trading can be a profession but for that education must be needed. It’s not like, you jump into the market, buy a token and make huge profit and out, it’s not possible at all. Everything needs proper education and without that in trading either it’s crypto or non-crypto can cost you big financial loss. Today in this post we are going to write about the most common crypto trading mistake made by maximum beginners.
Number One – Greed and Lost!
Most of the beginners made this mistake and it’s almost the end of the profession before even it started for some new traders. Beginners non-educated crypto traders enter into a market, see the coin which gaining the most for last few days, like grow 200-300-400-500% and after seeing that, they jump into that, buy it and as a result of that, most of the time a huge loss because, if you buy any coin as of greed for profit in short time, most of the time you buying that coin at pick price means the coin already gain its highest price. If you buy a coin at the highest price, no matter what the coin is, finding out the profit from it is really hard and in most cases the result comes out to loss of capital! So do not buy coins which already gain 5x-10x or even more, do not buy at pick price, do some market research, don’t fail for greed.
Number Two – Trade Control By Emotion
99% beginners let their emotions control their trading decisions. Don’t do this. Do not let your emotions control your trading decision. Because emotion never lets you decide the correct things, good or bad.
Number Three – Over Trusting and Reinvesting Again and Again
This is another common mistake made by traders most of the time. Like you invest in x coin, get some profit, you invest or trade again and again you win some profit. Now you start believing that, all you need is, reinvest or retrade again and again in the same coin to earn profit. Simple! But it can be deadly! The coin or token, which already provides you some good profit, try to avoid it for some period because it’s already rising once and make you profit. Next time there are huge chances that it will go down AND sure result will be big financial loss. In this time, new trader did another mistake that, after having some loss, he didn’t exist that coin, he wait for more profit but what happen is, that coin goes down again and again which make him loss all the earned profit as well as the hope he has.
These are the 3 most common trading mistakes you should avoid!
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