Post
Topic
Board Bitcoin Discussion
Re: Top mistakes of newbies in crypto
by
Desmong
on 26/09/2022, 21:17:39 UTC

1. Hopium
2. Degen mode
3. unrealistic expectations
4. short term view



1. Hopium


propaganda online is huge. ridiculous price targets of a coin from fake influencers make them feel better about their investment. better not to listen to them and keep a own view of the market.



2.degen mode


don't  buy a coin because someone else advised or made money. when i ask people about their investment in crypto most of them actually don't know any fundamentals of it.
do the proper research or stick to the average results everyone is halving.


3. unrealistic expectations


Don't get manipulated by profits you see online. 100k profits on a  trading account or a sport car.  you will never achieve that with your $1000 account. understand that and be real with you.



4.  short term view


the real wealth in crypto is made only by founders or holders , not by traders. even if you trade for rest of your life , you will never outperform the guy who bought bitcoin and Ethereum 5 years ago. analyze the data and don't be greedy. long term matters.



There are a lots of mistakes newbies like you can make as a trader that really want to make good income in trading. Some persons see trading as a shortcut to earn good income as trader but they can be reluctant to learn the necessary things they needed to know as a trader that would help them get to the optimum height of being a better trader.