Hey guys, I recently started trading on Binance and I read books, watched videos on fundamental analysis, support and resistance. I try to improve myself on crypto trading and also on psychology aspect of trading. The path of a trader is not as easy as most think. It is quite different lifestyle portrayed on Instagram. You could be a trader for five years and you'd still not have enough knowledge or experience. Maintaining profitability is a tough challenge.
🌟Fast ways to lose money trading;
👉Trade too much - You don't have to enter a trade everyday even if you're a day trader.
This is, of course, good advice, I always think that transactions must be made every day, but this is a delusion, if you go into profit and the market is weak, then you need to stop in time, I haven’t spent my deposit until I understand this. Therefore, it is not really necessary to trade every day.
In my opinion, a very big mistake that many traders make is exaggeration of their capabilities. If you correctly set for yourself the goals that a person seeks to achieve, which should correspond to his abilities, then the results will be at least better and, at the same time, too much risk, negates all the early work done.