Post
Topic
Board Beginners & Help
Re: Dangers of trading
by
Orpichukwu
on 13/10/2023, 17:14:18 UTC
Irrational decision-making is another pitfall; fear and greed can lead to impulsive actions that erode capital.

If we can control our fear and reduce our greed, then we can practice a good and healthy trading experience, as we can reduce and minimise the rate at which we lose on trading.
 
Greed is one thing that always makes someone see a point where they could have called it a take-profit point. After calculating their buying time, the fee spent, and any expenses that they have incurred during their buying period, whatever price one has set as their selling price, if that price is being reached or close to that price, the person should call it a take-profit time and don't wait for it to get bigger than that, as that can lead to losing even the profit that was realised.
 
In the aspect of fear, as traders, we should learn how to control ourselves when we hear some news that is unverified, from an unwanted source, and out of fear that the price is going to sink to the ground. If one can control all this, know what's good news and what's bad news, and also know that no matter the drop, the bitcoin price is going to survive and go back up to where it was,