Some biggest mistakes new crypto traders make and how to avoid them

Chit Chat
82

Honestly, the issue of security has really been a threat in the space for a very long time. Sorry for what you went through then. We should try to verify links before clicking them. Thank you for your contribution.

83

I totally agree with with your points but there are more so updating you post now n again would be a good idea…:+1:

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84

Thank you for the suggestion. I’ll definitely see to that. Please feel free to educate us as well.

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85

While trading, my biggest issue is to sit on my hands when necessary. Not enter too early and not get out too early :laughing:

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86

I am just starting to look at day trading videos on YouTube and it is looking interesting and complicating at the same time for me, I am hearing it is one of the fastest way to get older but I tried my first trade around September and I made $5 because I sell too quick, I think a good trader is a person that know how to control his or her emotion, thank you

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87

This is when the factor of FOMO comes to play. You enter too early, you could get rugged that’s if it a memecoin or a shitcoin. You enter too late, you may end up buying at the ATH. So scary.

88

You are absolutely right. To get the best out of trading, keep your emotions aside and face the market. Sometimes when we have so much love for a coin, we begin to get too attached to it and it’s always end in tears.

89

Yes I have also learn how to take profit when you really can do that

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90

Ah yeah, but what I meant by trading was playing with future trading on centralized exchange like Binance and HTX. The chances of rug are way lower.

I do buy some tokens from time to time on-chain. It’s not to flip some money but to support on long term. The on-chain trading I might sometimes do is crosschain arbitrage cause it’s harder for bots than intra chain arbitrage.

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91

This is actually good as well.

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92

This is a key factor in trading. The ability of being able to take profit is very difficult for some individuals.

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93

I am thinking that the reason why it is difficult is because of greed, some people that are traders want biggest volume of profit before they take it

94

Sometimes i wonder if all these risks can be totally avoided…Cause paying attention can only prevent some

95

I feel like it’s like trying a martingale in a casino. You can make small gains for a little while and then lose it all in one shot