Yes you read the topic right! The biggest lessons are learnt from failure. Too many times, new traders are interested in how a trader turned a $0 account into a huge amount, but not how a trader lost all their deposit to bad trading. As a lesson to the few who do not already know this, I am sharing my experience on trading, and how I rekt my account earlier when I started trading.

• Going against the trend

Many traders do not really understand how important this is, if you go against the trend the chances of failure in trading is high. This is why identifying the trend for the day is one of the most important aspects of trading and it should be something that every new trader should do before choosing or making trending decisions. Identifying the trend should be simple, just find the Higher highs and higher lows, or the lower highs and lower lows etc.

• Revenge trading

I lost some money, decided to chase the market to make it back.

• Trade everyday

Because of the plan to flip my account, I was always in the market, looking for positions to take. Even on the weekends where trading is risky, and false moves can be much, I did not give myself a break.

• Trading every coin instead of choosing a few that I could understand their movement

Those are the few lessons I learnt from failure, what did you learn?