Post
Topic
Board Trading Discussion
Re: Common mistakes by unskilled traders
by
synchronym
on 14/10/2023, 14:46:09 UTC
Many newbie and crypto enthusiastic think trading is easy until they lose on the first day, 1 week,1month, 1year and they finally quit.
There are common mistakes they usually makes which are,

_ Not planing there trades: there is a popular saying that he who fail too plan, plan to fail.
   Before entering a trade, an entry point and exit point must be spotted if you want to succeed.

_ Don't make emotional driven decisions: Emotions like fear and greed can cloud our sense of reasoning and leads to impulsive action, just stay calm and stick to your plan.

_ Not managing risk properly: this protect your capital, by using stop loss other, It minimize potential losses.

_ Not doing enough research: knowledge is key in trading , knowing the craft is very important, take your time to study the market, analyse chart pattern, and stay updated to news that can impact your trade.

Remember trading requires not just strategy, but discipline
There are a lot of people who get frustrated a little bit I want to say something when you trade crypto you must trade with time.  As the op said when newbies trade crypto they are in a hurry and get frustrated in a very short period of time if nothing happens in a week or a year they get frustrated and lose money. But don't be disappointed like that when you trade in crypto you must know about it well then you have to trade. Otherwise you are more likely to lose if you trade crypto.