Steemians, Plzzz Avoid Those Mistakes!!!!!!

Hello Family, hope you are doing well.

In today post I want to share with you some valuable information regarding trading coins. In fact most of peoples here are new to this planet, and to be honest cryptocurrencies are unpredictable and in a state of evolution, so I decided to discuss with you some of the commons mistakes that beginners make when starting trading cryptocurrencies.

Before going further into the core of the subject I would like to take your attention to something specific, everyone of us miners, traders, holders, lovers and founders are the actors of the evolution of the market and the most is yet to come.

If you are in this community Surrounded by all of those magnificent Steemians, that you are in the right place at the right moment to be a principal actor of the movement to freedom.

I hope that you will find those information valuable and above all that will save you time, money, the hustle and the curve of learning the hard way.

So her we go, there are the 5 commons mistakes that newbies need to avoid, and with my personal experience I can swear you that even the so called ''veterans'' make those mistakes again and again.

source

* Following trends without doing your own research:

you are the one using your hard-earned cash to purchase cryptocurrency. If you don’t understand the product, or the value, and you’re only listening to “experts” who tell you when to buy and sell, you may get into big troubles and lose a lot of money.

Listening to trends could be a good point to start your own research and take a wise decision, make sense no.

* Putting all your eggs in one basket:

As said in the introduction, cryptocurrencies are unpredictable and in a state of evolution, which means there is no single coin that is ‘guaranteed’ to survive.

Whether you are holding, or trading, you cannot afford to put all your funds in one coin. Diversification and risk management is the key to a solid low risk strategy while finding good entries to invest in multiple coins to increase your chances of making good profits.

And of course the golden rule:

source

* Thinking cheap is the key:

The real key is to not just taking price as an indicator of profitability, you must do your own research to understand why a particular coin is cheap, and which, market indicators or upcoming developments can boost the price in the long and short term.

In other words is not Just because a coin is cheap does mean it is a better buy option or has a higher chance of profits.

there are many factors to take in consideration before taking a wise decision, minimizing the risks and maximizing the chance of profitability.

* Trading with emotion:

Psychology is the most complicated part to deal with when starting in the trading world, in one hand the market is emotional and those emotions are the reflection of investors actions ''emotions''; in other hand professional traders don't take their decisions based on their emotions, they do analysis and use experience to take advantage of the market ups and downs.

To make it simple to understand I prefer to align a list of examples of common emotional actions into the crypto-trading market to absolutely avoid while making you trades:

1. Lack of patience
2. PANIC-BASED DECISIONS
3. The Fear of Missing Out
4. BUYING INTO SCAMS

Details of the matter will be discussed in-depth in my future posts.

* Not understanding basic charting fundamentals:

If you are willing to be a successful crypto trader this is the most important part to work on, I agree that at first view you can find it very complicated to understand and even like impossible, but getting your hands into the right path to learn how all this shit works is the way to go.

Just like everything else in life, there are no guarantees in the crypto market, charting fundamentals & technical analysis could be used to increase the chances of making successful trades.

Details of the matter will be discussed in-depth in my future posts.

source

I want to thank you for reading, if you find my words valuable don't hesitate to up-vote and share, if you have a question or propose please leave a comment and I will gladly replay as soon as possible.

Thank you for reading and let me know if I can be for further assistance.

@tradewolf