Post
Topic
Board Trading Discussion
Re: Beginner mistakes and how to avoid them
by
milewilda
on 01/05/2023, 19:59:19 UTC
Most of the newbies in crypto space believe once they have a large capital they will definitely succeed in the crypto space, but they are wrong, not knowing that if you can't grow/manage a small account, you can't grow/manage a big account either, their are common mistakes they usually make an I will be giving out tips on how to avoid them,
* Over trading-- it's very important for a day trader to limit the number of trade he/she took in a day.
* Lack of trading plan-- develop a strategy an stick to it, do not ever enters a trade blindly, if not the market will remove you blindly.
* Failure to use stop-loss-- to me it's the most important thing I do while trading, an it's always close to my entry price, I do it that way so that if the trade didn't go as planned, I won't lose more than 10% of my margin.
I don't if anyone have more to add, so I can also learn?
*Emotional impulsive
*Rushing up on getting rich
*Trading disicpline
*Risks management

If you do lack also of these things then you would likely be able to experience up those common mistakes on which newbies do able to commit out. Yes, its not really that easy on avoiding up these things in the first place.