๐ Mistakes of beginner traders and investors in the cryptocurrency market:
1. Investing without adequate understanding or research
Many beginners enter the market based on recommendations or rumors without understanding the project or coin, making them susceptible to loss.
2. Falling into the trap of greed (FOMO)
Entering trades due to fear of missing out (Fear Of Missing Out) when prices rise quickly, often leading to buying at the peak and losing later.
3. Not using a clear strategy
Randomly entering the market without a trading plan or specific goals exposes the investor to market volatility and increases the chances of loss.
4. Ignoring risk management
Investing the entire capital in one coin, or entering with large amounts without setting a suitable risk percentage, leads to significant losses.
5. Emotional trading
Making decisions based on fear, greed, or momentary excitement instead of logical analysis.
6. Ignoring the importance of secure storage
Leaving coins on exchanges without using cold or secure wallets may expose them to theft or hacking.
7. Chasing small coins without strong fundamentals (Shitcoins)
Investing in unknown coins just because they are cheap or "might explode," without studying their background or project.
8. Not diversifying the portfolio
Putting all funds into one currency or one type of digital asset, increasing the risks.
9. Overtrading
Trying to profit from every market movement may lead to exhaustion and losses due to fees and price fluctuations.
10. Over-reliance on others
Mimicking the decisions of "influencers" or trading groups without understanding the reasons, making the investor a victim of misinformation or manipulation.
11. Forgetting taxes or legal aspects
In some countries, trading in cryptocurrencies has tax and legal implications, and ignoring them may lead to problems later.
12. Investing amounts that cannot be afforded to lose
Entering the market with money that may be needed in emergencies or for basic expenses.
