#TradingMistakes101

First Steps into Crypto – Mistakes and Lessons Learned

In 2021, I entered the crypto market with almost zero knowledge. After several losses and experiencing many emotions that the market brings, I have drawn some hard-earned lessons. I write this article in the hope that it will help those who are new or feeling lost on this risky yet potentially rewarding investment journey.

✅ Always have knowledge and a clear plan for each trade.

Do not FOMO. Not having a plan means pushing yourself into a "sea of risks".

✅ Do not blindly trust anyone, even those who help you.

Everyone can be wrong at some point. And when a trade doesn't go as expected, no one can take responsibility for you. Don't blame others – take control of your own money.

✅ Self-study and equip yourself with knowledge.

Learn on your own, research, and build a solid trading system for yourself.

✅ Manage risks and prepare for the worst-case scenario.

Always set stop-losses. Only trade with capital you can afford to lose. Be mentally prepared for the worst-case scenario – because the market will never be "sweet" forever.

✅ Maintain a strong mindset, patience, and discipline.

The market will always challenge your psychology. If you are not strong enough, you may easily get swept up in the crowd, buying at high prices and selling at the bottom.