$BTC Title: Why do 95% of people lose their money in cryptocurrencies? 3 mistakes that can zero out your account!
Hello, cryptocurrency friends!
Every new trader dreams of the same thing - "I will invest $100 today, and I will make $1000 tomorrow!" But research shows that 95% of people lose their money. Why?
Because they come with an understanding of the plan, not to learn the skills. Today I will tell you about 3 big mistakes you can avoid to be among the 5% who make profits.
Point #1: Buying out of fear of missing out (FOMO) 🔥
You see a coin (like $PEPE) suddenly rise by 200%. There's a voice in your heart saying, "I'm missing the train!" And you invest all your money in that coin which was already at its peak. Then the market crashes, and you're stuck.
The solution: What has already risen was not yours. Always rely on your analysis (DYOR) to enter, not on what others say.
Point #2: Revenge trading (trying to get back) 😡
You lost a trade. Now, in anger, you make another big trade quickly to compensate for that loss, without thinking. This "revenge trading" is the quickest way to zero out your account.
The solution: Losses are part of trading. When you lose, close your laptop, go out for a walk, then come back after your mind has calmed down.
Point #3: Lack of risk management 💰
I started trading with $500 and invested all $500 in one coin, in one trade, without setting a stop-loss. This is called "all in" and it's gambling, not trading.
The solution: Always set a stop-loss! Risk 2% to 5% of your total capital on a single trade. That way, if you lose on 10 trades, your account will stay alive.
Final talk:
Cryptocurrencies are not a "get rich quick scheme"; they are a high-risk venture that requires learning. Patience and knowledge are your two greatest weapons.
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Which of these mistakes have you made? Be honest in the comments! 👇
