Another mistakes for BTC trading I would say. Plan isnt needed for trading because with having some plan you will be restricting yourself to do a changes directly if needed in some situation. Rather than having a plan, consistency as well as discipline are much more needed in trading especially if you are taking your chances to be a day trader then consistency and discipline is the key for this

Im merely talking about the consistency to take profit at X percentage or stop loss at Y percentage. Such discipline and consistency is needed if you want start trading


Dont confuse yourself with this because a trader and gambler are different from many perspective. I could describe few things that differentiate them but I would go with the most significant difference

A trader could be able to roughly pinpoint the bottom or the top of the daily price even though it is not always accurate depending on several factor such as buy power, sell pressure and volume ( common thing for trader ). While on the other hand, gambler is all about being lucky , you would say that a gambler will be able to predict a dice roll?predict what his next BlackJack card is ?

You should revise your post because a trader isnt a gambler


Get your facts straight, a panic is caused by constant sell pressure not a news. News is merely a fuel that drive a sell pressure and no minor news causing nothing to the price . Reason that you see some news causing some downstream for the price is because it is manipulated by whale by creating a fake sell wall to give some pressure for the orderbook