Hi guys,
My Last post is about some tips of trading and now i am going to discuss about mistakes which we have to avoid during Trading.
1. Unrealistic profit expectation
Unrealistic profit expectation is the common problem for novice traders as they are speculating huge profits without financial calculation with proper tested strategy.
2. Misinterpreting risk
There are always risks in such type of trading as the market price is not centric to any party because the market forces allocate it. Most of the traders do not have calculative risk and strategies to control.
3. Untested trading plan
Most of the times, few traders fall trapped with lucrative trading schemes, which leads them to massive loss ultimately. Thus, you should be aware of the trading plan you choose, before implementing in the live account.
4. Believing rumors
There are some news flashes in the market, which is not real, and traders get trapped while taking entry or exit from the trade.
5. Unappropriated guidance/reference
A better mentor always generates a better result. However, if our reference or broker is not well equipped for the trading, then it may incur losses for you. Therefore, you must refer valid and genuine links only. Cryptocurrency trading needs to be carried out with great care as it may give excellent result and adversely, it may bring massive loss as well. Therefore, you need extensive research and analysis before placing any order in cryptocurrencies. Moreover, such type of trading concerns high security also. Thus, the thematic content of this blog generates trading tips along with assisting in eluding the general faults.
Please mention below guys if i missed any of important mistake which we have to avoid during Trading Crypto.
These things should be your mindset in trading because that will serve as your basic knowledge towards having good profits and not losses. Adaptation about a trading environment is also important for you to understand how market moves and how trading works. I know that it is not that easy to become a trader that instant, it takes time for you to modify yourself from the environment where trading is really important.
Technical analysis should be precised and perform properly for you to have some basis about your decisions and actions about your strategy. Mistakes are normal and the only thing you need to do is to lessen and minimize it because trading involves money and assets.
Crypto trading is really crucial especially when its price are really changing immediately, that's why you need to seek and find the factors that affect its price in the market. You also need to read some news and articled that is related to the market and cryptocurrency for you to become always updated in trading.