Quote from: batang_bitcoin on Today at 10:37:47 AM

Quote from: Fredomago on January 26, 2024, 11:21:02 PM

Indeed, if you are not careful following this kind of action you'll see yourself losing your money. There are many things that you need to consider following new projects that being listed to good exchange, things that will allow you predict and assess if it's still good to place position or your should need to forget about that project and look for other project to invest. Though sometimes taking that risk may give you decent profits just not to allow yourself doing and over trade or taking long engagement to a new project that can collapse any time, it's a big risk for your money, just do your DYOR and take time in each decision you need to take.

Taking risk is like a double edge sword. It's either you win against the market or the market will win against you. If the approach is wrong, you'd definitely be disappointed with the result. And that's why you always need to test the waters so that you'll see if it's in your favor or not. If not, the wrong approach will teach you some lessons that you can apply when you're okay later. And if you don't, the cycle is there and you'll just repeat your mistake and you might over trade again and will absolutely lose the second time or more.

A mistake is part of the learning process and to amplify the result by using your mistake is to learn from it. You can get insight into something by listing it to others, but it won't give you the real weight or impact of that mistake if you don't experience it yourself. What most trader lack is discipline and what they do is FOMO. If you have a strategy, follow it no matter what the market condition is and don't take any deceit in a rush. Take your time to think about all the possible negative outcomes of your trade then take action.