Common mistakes that are very fatal if not managed properly. The main cause of new traders is not well-studied cryptocurrency ecosystem, so they are very easy to be affected by FOMO, FUD, and drifting. Mostly because they want instant and fast profits, even though it's not that easy, if you have to get the maximum profit, you have to do technical or fundamental analysis.
Besides the ten points discussed in the article, there is one more mistake that traders often make: too greedy. Usually, this happens to daily traders. The case that often happens is when you have taken profit, but see an opportunity to rise from the chart, then enter the market again, it turns out it was the price at the peak, and surely you then know what happened.
Remember, a goal without a plan is just a wish. So we must determine the target with a mature strategy, we must be able to manage emotions and mentality in trading
For newcomers, it is best to gain some good knowledge of crypto currencies as a whole and specifically the coin that they plan to invest in. In a volatile environment of digital market, one cannot survive without having fundamental understanding of it. Only those people who lack this ability get affected by FUDs and FOMOs. They also fail to prevent themselves from scams.Besides the ten points discussed in the article, there is one more mistake that traders often make: too greedy. Usually, this happens to daily traders. The case that often happens is when you have taken profit, but see an opportunity to rise from the chart, then enter the market again, it turns out it was the price at the peak, and surely you then know what happened.
Remember, a goal without a plan is just a wish. So we must determine the target with a mature strategy, we must be able to manage emotions and mentality in trading