#TradingMistakes101 What was your biggest trading mistake as a beginner, and what did you learn from it?
As a novice, my biggest mistake was averaging down. I bought an altcoin that started to drop, and instead of accepting a small loss, my ego made me buy more and more with each decline, convinced that I was right and it was an "opportunity."
However, the coin continued to plummet until it lost almost all its value. I turned a small controllable loss into a catastrophic loss that annihilated a significant part of my capital.
And to conclude, the market is always right. Risk management is more important than your analysis. Since that day, I learned that a Stop-Loss is non-negotiable and that you never add money to a losing position. That was the costly lesson that forced me to become a true risk manager.
