We all know the common mistakes EVERY trader went through, writing about them, shouting out loud , but is anyone listening? We can only try to educate people ,can't make them do anything. It is very easy to get caught in all the usual traps and believe me, the Market is waiting for you to do it. So let's review again most common mistakes that every trader have to suffer so he will turn out smarter and better !
1.FOMO OR BYING THE DIP- the whole market is talking about it, it's on all social media advertised all over you! So you get the urge... You must buy it you must have it ,what if you miss it?You even go and buy it when it's in it's top price ! Unless you are chasing small coins for instant gain learn how to tune out the noice! Just because some " celebrity" or " influencer" said buy that don't mean you must buy. If you miss it while you blink then it was not worth chasing it. Every day I see tons of posts -youvmissed btc in 2008? You missed blabla in 2010? Don't miss " the best coin ever" now everywhere pushed on all sides! FAKE NEWS!!!
2.HIGH LEVERAGE - same mistake . You want to become rich over night, your trade is going good and you are sooo confident you put leverage 100x? Yes, it will work ONCE IN 100Trades! That mean 99 of your trades will be lost using the same strategy on every trade.High leverage also mean High chance of losing, so the chances of liquidation are much higher in this trades !
3.NOT USING STOP LOSS- this is basic rule people, not using SL is just plain out stupid or you have too much money to ❤️🔥 burn .Choice is yours.
4.EMOTIONAL TRADING- One of the most common mistakes that everyone expirience at some point. You lost so now you are getting back with a revenge? You have a fight to pick with the Market? Well ,welcome to humanity! The Market answers to this wish with: bring it on ,human! I am complex set of all possible human knowledge gathered for ages and you are angry little man. Who would win that fight objectively? Sometimes it's the human, but again once in 100 cases maby, which leaves 99 cases where YOU LOSE. Cool off, take step back and review your trades, LEARN FROM IT, don't get angry, get EVEN ! You can't hurt the Market cause the Market don't care. You can only hurt your ego and your money and end up in tears. Trade smart!
5.NOT REVIEWING TRADES- all this mistakes bring us to this one. Will you learn something from your mistakes or leave the market walking all over you while you are stubborn saing I will win this time using the same exact strategy ? Again, the Market waits for mistakes like that, it feeds on them and spit you out before you know it . Don't risc 100$ to gain 20! Don't buy high sell low! Don't let your emotion carry you ! Trading and gambling are not same!
6. KNOWING ALL THIS AND STILL IGNORING IT- Some people just choose to stay ignorant, that is why the market will always be step before us, humans. Market and robots . That will be the end of humanity , it's scary cause they DONT CARE! 💥
🍀🍀🍀 Happy trades !
