krypto trading plattform mistakes

 Since I started working in the field of crypto and blockchain I have been meeting so many people with very common mutual mistakes and I am already convinced that the rate of making serious mistakes is incredible high. Today I have read an article that explains some of the most common mistakes and decided to share it here.

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TOP MISTAKES MADE BY CRYPTO TRADERS BEGINNERS

Trading (trading on the exchange with cryptocurrencies, including bitcoin) is a type of activity that involves work to extract profits from the trading process. As in any other kind of activity, in trading, it is essential to develop specific qualities necessary for achieving high competence, in particular, an analytical mind and attentiveness.

Many come to the crypto-exchange, hoping to earn on a difference in the exchange rate quickly with minimal effort. However, reality makes its adjustments, and a novice trader may soon be disappointed in this kind of activity. Why is this happening? What mistakes must be avoided?

1. Unwillingness to study the situation on your own

Anyway, it is you who will spend your money on buying cryptocurrencies. If you do not understand the product and its value, but only listen to "experts" from Medium, Twitter or Slack, who tell everyone when to buy and sell currency, you will get into big trouble and lose a lot of money.

If your decision to buy a currency depends on the opinion of someone else, then you will have to rely on this opinion and when selling. Do not be a layman. Explore the market in which you work.

2. Putting the money that you can not afford to lose into the trade

As an example, we will bring to the deposit all your available savings, or, especially, loan funds.

Not a single person is insured against failures and mistakes; even professional traders often bear significant financial losses. The stories of newcomers who managed not to make any of the typical mistakes at the beginning of the trade route can be called anomalous, or at least unlikely, with independent trading from scratch.

Mistakes must be made (not intentionally, of course) because learning from their mistakes is much more effective than on others - this is a characteristic feature of acquiring practical knowledge. The best thing you can do before the start of exchange trading is to minimize the consequences of initial errors in advance. The rest will come with time.

3.Following excitement, emotions and unconfirmed information in decision-making

Admittedly, avoiding this mistake can be difficult, especially if you follow the news from the world of cryptocurrency on Twitter with messages like "ABOUT THE LORD, THE COURSE IS GROWING ALL BUYING" or "So it seems that bitcoin has come to an end, it's better to sell."

Let there be some truth in these reports; it is physically impossible to follow everything at once and, in general, the most patient ones still win.

No one in Telegram chats will spread REAL insiders (private information about the prospects of pricing); moreover, even advertised paid channels often give more erroneous information than true. Rely primarily on your experience and recheck the incoming data. And, if you have a plan of action, thought out in advance, it can be fatal to depart from it by shifting moods.

krypto trading plattform