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What are the mistakes that traders make?

skrimon

Well-known member
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1. It is illegal to store money anywhere than a wallet.

Avoid keeping money anywhere besides your wallet. Money in an exchange wallet might be held there indefinitely or temporarily. This is a grave error. In the event that the exchange you prefer, and thus your funds, is compromised by hackers or opportunists, you will undoubtedly lose everything. With this account, we get to the conclusion that you should only deposit funds into the exchange when you intend to make a purchase or sale, and withdraw them again when you no longer wish to do so. You'll be better able to control your finances as a result.

2. Greed is forbidden!

Many participants in the international financial markets, and the market for digital currencies in particular, are motivated by greed. Those who work in this field should avoid being overly greedy for their own good. Our advice is to keep your emotions in check when shopping and trust that the universe will provide you with the correct items at the right moment.

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3. Excessive risk is prohibited!

For the financial markets, risk and greed should be proportional. The digital currency market is fraught with risk for those who play it too dangerously. If this happens, you will undoubtedly lose your investment.

Speculation suggests that cryptocurrencies like Bitcoin will reach their highest prices in the near future. You feel a surge of greed after hearing this, and you end up making a purchase based on emotion rather than logic.

4. It is not allowed to make the same mistake twice.

You should know that every deal you make will teach you something before you even make your first one. Many important life lessons can be gleaned from each and every transaction. No human being will ever repeat the same mistake, and if this keeps happening to you, you can rest assured that you will eventually run out of money.

Thanks for reading. Write a comment below if you have any questions. Your comment will encourage me to collect more information.
 

Polakandil

Well-known member
During the learning process, the mistake is a common thing, traders get improvement because they can learn from their mistakes and try to avoid the same mistake. The big mistake in trading is greed, over-trading, and rush. Sometimes traders fear missing out and then chasing the price that already running. It is not safe to jump on the running bus, we need to wait on the stopped bus for safety.
 

Hev_Leo26

Well-known member
I think setting unrealistic goals is another. People want to put in little effort and get rich overnight without doing anything. Beginners start with the goal to get rich but don't think about self-improvement, learning, or even just becoming consistently profitable without losing money. I think saying you want to make x amount by a date is a mistake, because if/when you don't meet that goal, you feel like a failure, even if you did make something.
 
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