Confessions of a Former Crypto Loser: The 3 Habits That Sank My Portfolio (and What You Can Do Differently)
If you’ve spent any time in the crypto space, you’ve probably made a few painful mistakes. I know I have. Back when I started trading, I made some choices that slowly chipped away at my portfolio, without me even realising it. The worst part? I repeated them over and over until I finally took a step back and saw what I was doing wrong.
If you’re active in the market, especially on platforms like Binance Write-to-Earn, this might feel familiar. Here are the three habits that cost me the most—and what helped me turn things around.
1. Letting Emotions Drive Decisions
I used to jump into trades just because everyone online was talking about them. I’d buy into hype, panic during dips, and sell at the worst possible times. My decisions were based on emotion—mostly fear and greed—not on logic or strategy.
What helped: I started planning my trades. That means deciding when I’d enter and exit before placing an order. I also started using stop-losses to manage risk. Once I removed emotions from the process, things started to shift.
2. Ignoring Research
In the beginning, I’d invest in anything that sounded exciting or had a flashy logo. I didn’t read whitepapers, check the team, or even understand the basics of the projects I was funding. Unsurprisingly, a lot of them flopped—or were outright scams.
What helped: I made research part of my process. That includes reading whitepapers, looking into the team’s background, understanding the project’s real-world value, and watching how it fits into the market. If it didn’t hold up under scrutiny, I moved on.
3. Overtrading and Chasing Losses
After a bad trade, I’d often jump right back in, trying to make the money back fast. I’d trade more frequently, often with more money than I was comfortable losing. It rarely worked—and usually made things worse. Plus, trading constantly meant more fees and more stress.
What helped: I started focusing on fewer, higher-quality setups. I took breaks after losses, reviewed what went wrong, and tried to learn from it. Keeping a trading journal helped me spot these patterns and avoid repeating them.
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Breaking these habits wasn’t easy, but once I did, my results started to improve—and so did my confidence. If you’ve made similar mistakes, know that you’re not alone. Recognising them is the first step to becoming a smarter, more consistent trader.
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