#TradingMistakes101 Not all profit is profit... and not every loss is a loss
Like many of you… When I first entered the market, I felt a lot of optimism, saw people making fantastic amounts of money, and videos, articles, and tweets told you: 'Buy this currency now. It will make 1000% soon'. To be honest… at first I believed and fell into that trap more than once😅
There is no easy profit in the market
The first time I invested money, I bought Doge currency, which is a meme currency. Currently, I never recommend investing in such types of currencies. Back then, its price skyrocketed for two days, and I thought: 'This is 0.4, now 0.48'. Two days later, it would be worth a dollar. It’s supported by Elon Musk and cool people… I thought I became a cool trader in a week… the price dropped by half, and I realized there is nothing called guaranteed profit, and if the market rises quickly… it can fall even faster.
Spot trading is the safest way
You're really here to buy currency… in your wallet… if the market drops, you can wait. No leverage, no loans, no interest… your capital is with you.
