Here are some interesting facts about trading I stumbled across from CryptoCred which I think may be helpful
Common error to avoid when you day trade, I modified some to reflect my own opinion.
1. Revenge trading, trying to get back a trade that has been lost or chasing a trade.
2. Never using a Stop
3. Not having a plan (Risk/Entry/Exit/Stop)
4. Not sticking to your plan
5. Greed risking too much/not taking profit
6. Being too emotional about a trade.
Plug these equity drains & increase your odds of being profitable.
You could add to the list and make better trades
I would also like to add some more mistakes of crypto traders.
1. A very common mistake of newbie traders is that they look at the price of the coin while buying instead of market capitalization.
2. The traders do not consider the amount of time required to be spent in this market. You constantly need to keep track of the market.
3. Many traders lose control on their emotions. They always buy at the point when it has reached a top and sell it when it is at the lowest point which is the reason they always suffer losses.