I think If we want to earn profit in trading then we have to correct our choosing factor also , one of which is the currency you choose. Sometimes we invest in a currency after seeing it go up quickly, and then soon it starts to lose. This loss is caused by our wrong choices. So we should always be careful in our selection and preferably invest in top 20 currencies. Investing in top 20 currencies reduces risks and keeps your investment safe. Investing in selected currencies with good research and accurate market information reduces your chances of loss. Avoid investing in haste without doing your research and market analysis and make top 20 currencies your first priority. This way you can get better results in trading and avoid losses. And can earn profit.
That's called FOMO (Fear Of Missing Out) and it is one of the worst things a trader can do. Undoubtedly, it can be profitable sometimes but that is extremely rare because a coin or a token will barely go any higher if you are entering when it is already at the peak. The most common reason behind this is a lack of research and understanding of the market. Someone who makes their investments after proper research won't be a victim of this.
This is something mostly done by newbie traders because they are new in the market, and the only thing they understand is that they need to buy low and sell high, and when they see a coin or a token going straight up, they think that it is still going to go up more and they make an entry without realizing that it has been going up for quite some time and it has already reached its peak and won't be going higher anymore.