Do we all know that most of the real causes of losing in trading is because some traders have little or no knowledge on trading or what they are doing in the market, they just enter a trade blindly hoping it goes their way, and when it starts going against them they start praying.
I have seen someone shorting a trade because he felt that the market has bought for a very long time, and when he did that, he was liquidated of the $30 he used in that trade because he didn't even know how or where to set his stop loss, so trading blindly is one major factors that cause losing in the market this days because when you know what you are doing, even if the market is going against you, you wouldn't panic as long as you use an amount you are willing to lose.
That type of traders are gamblers not the real one trade who enters here in the crypto space. That is not the character that a trader shows behavior in this field industry of the crypto space.
Then when you really lack knowledge, there is no doubt that they will be liquidated quickly for sure in the end.
Because we know that real traders are ready for all the consequences that they can face especially if the situations that occur in their actual trade activity are negative.
That's for sure, and that's why a trader is required to always be willing to learn to improve their skills and knowledge. If you come in without any preparation, you'll end up wasting money and time. I often hear people who have failed in trading say that trading is gambling, when in reality, they're the ones who come in empty-handed and unwilling to learn. That's ridiculous.
The problem is that many traders develop a "Fomo" (Fomo) mindset after seeing advertisements on social media about successful traders. They think trading is easy, when in reality, it's not at all. Success in trading only comes to those who have a strong intention to learn and evaluate their mistakes.
You should be that making yourself being open when it comes to changes and learning on which there are individuals who are that not easily be able to move on once they would be experiencing out some mistakes or errors onw hich they would be that pursuing out on what are the things that they do have in mind. Trading blindly would be usually happening into those individuals who are that too optimistic about into their trading skills without even trying out to realize that they would be needing up to learn up even more and also market does have that different variations on which simply means that you would be needing up to consider out on being versatile as a trader but actually its not something that so simple when you are on the actual thing and thats why we've seen that there are those individuals who do just that simply place up their trades then they would never be trying out to look with those potential risks that it does have.
Trading blindly isnt that something recommended because it will be just that totally the same when you are doing gambling and doing trading isnt a gamble because this is something that you can be able to apply some analysis into it and its important that you should be that making up some analysis and applying out into those learnings that you do acquire in the past. So it will be just that depending on you on how you would
adjust accordingly on which as long it would be beneficial then it would be something that you do need up to follow.