One of the mistakes traders makes when coming into the space of trading and investing in the digital markets like Bitcoin is having the mindset of guaranteed instant wealth, most believe trading is an access to guaranteed wealth,. Not knowing that just like any other industry there are ups n downs and hard work on the right information, patience and time is the real rewarder not mere presence and availability, you can't join the police today and become an IG next month, you can't join the military today and become a general next week, you can't become a doctor today and turn a consultant tomorrow, just like every other field, success in trading cannot happen overnight
The truth about life is that nothing good comes easy, and that's applies to trading too.
This is one of the major mistake newbies traders make when coming into the industry thinking that it's a get rich quick scheme, not knowing that it's not that easy as it seems to veterans traders that is now profitable in it.
Some newbies traders gets really excited when coming into the industry believing that it's a shot at redemption, an opportunity to become wealthy overnight, which isn't true, because when you enter the market blindly as a newbie, you will be taken out in no distance time, and when the losing streak keeps on occuring, they will just stop and gave up because they now feels that they misjudged it completely that it's an easy way to make money which is not.
But if with full diligence you go for knowledge in technical and fundamental analysis, and is able to control your emotions when in trade, their is a higher probability that you may became profitable in the future if your risk is being manage properly.