5 Reasons Why Crypto Traders Always Fail Daily

Like they always say, we keep learning every day. If course there are some instances we will actually make some mistakes. But we should always learn from our mistakes or also the mistakes from others to always get better and better daily. Today I want to share with us some of the experiences I have had when trading and also the story I have heard from other experience crypto traders on some possible mistakes they have made when trading and how they wish they have the chance to correct them.

The first mistake a lot of people always make daily especially crypto traders is the fact that they always trade without not a clear strategy. I was also a victim many years ago. A lot of beginners just rushed to the market starting to trade without not a clear strategy on how it actually works and how they should manage their emotions. Some of the time, many people just start the crypto market because of the hype around it.

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The second mistake every trader always or beginners make is overtrading. A lot of traders did not know when to put a stop to their trading. Some just continue to trade and trade till when they lose all their money. In fact, some of them started on a good note and will start to make profit. But because of over trading, they lose all the money again at the end of the day which should not actually be so. For me, I believe if one want to be successful, you will need to have patience.

The third mistake everyone I mean crypto trader is they always fail to practice poor risk management and at the end of the day, they result to heavy loss. This was also the mistake I made many years ago which till now, I am still regretting. Due to my lack of practice of risk management, I loss huge amount of money and run into debt. One of the things I have learnt about trading is that one should always practice risk management when trading so that you can protect their capital.

The fourth mistake every crypto trader always make is that they always chase after hype and fomo which is commonly known as fear of missing out. A lot of crypto traders did not even understand how the crypto market works . They just follow hype. They just jump to the market or trade any coin probably because they hear that people are buying the coin or the project is really trending. This is not supposed to be so. Before trading any coin, make proper research underground.

The last mistake people always make as I round up is that they practice what I will call the emotional trading. This is one of the most common mistake. A lot of crypto traders suffer from fear, suffer from greed, suffer from discouragement and anxiety when trading which should not be so and ay the end of the day, they suffer for it. All of these mistakes are what you should avoid if you are a crypto trader.