1. FOMO and FUD โข Chasing prices up due to fear of missing out (FOMO). โข Panic selling when prices drop due to fear (FUD). โข No clear plan, driven by emotions.
๐ Solution: Trade according to a plan, not emotions. Have clear entry and exit points.
2. Lack of knowledge and experience โข Not understanding charts, resistance/support, trends. โข Using leverage without understanding the risks. โข Blindly trusting KOLs or signal groups that lack integrity.
๐ Solution: Self-study technical analysis, fully understand the products you trade. Do not indiscriminately โcopy trade.โ
3. Poor capital management โข Putting the entire account into one trade (all-in). โข Not setting stop losses or holding losses too deep. โข Not knowing how to allocate assets.
๐ Solution: โข Max risk 5-10% of the account for each trade (no more than 2 trades). โข Always set stop losses. โข Diversify if necessary, avoid going โall in.โ
4. Overtrading โข Entering trades continuously, even when there are no good signals. โข Trading out of boredom or to โrecover losses.โ
๐ Solution: Only trade when there is a clear opportunity. Be patient and wait for the right signals. Rest at the right time.
5. Not learning from experience โข Not keeping track of trades. โข Not analyzing the reasons for wins/losses. โข Repeating old mistakes multiple times.
๐ Solution: โข Keep a trading journal (entry, reasons, results). โข Periodically review to learn from experiences. โข Gradually improve over time.
==> How to trade crypto effectively โข ๐ Learn basic and advanced knowledge. โข ๐ง Trade according to a plan, not emotions. โข ๐ฐ Strict capital management. โข ๐ Accept small losses to avoid large losses. โข ๐ Record and learn from every trade.
Crypto God of Wealth
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.ย See T&Cs.
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