Quote from: Viscore on March 17, 2024, 09:12:04 PM

Greed has no room in trading. If you trade just because you aim to be instantly rich, that will definitely hard to be realized if you don’t know when to take profits even the smaller portion. Note that profits should not always be huge for you to start taking it, regardless of its amount, you should learn to be satisfied at some point and take it, otherwise you will end up losing all your patience while waiting for massive profits, and yet the market still end up dumping. And now you end up regretting wishing you were never greedy in the first place.

That's true, and one should never wait too long if they are not sure about a cryptocurrency they have bought, one should always start low and then keep increasing their budget on such cryptocurrencies they are trading. If we become greedy from the start, we won't even be able to get a small amount of profit but will lose money instead.

The most important thing is knowledge, and one shouldn't trade cryptocurrencies that they don't have any knowledge about. A lot of new traders make the same mistake, they start trading certain cryptocurrencies without having any knowledge about them and their movements, and eventually, they lose money out of their invested capital in those cryptocurrencies.