Key factors that affect cryptocurrency trader
Cryptocurrency Trading
One of the ways of making money in the cryptocurrency world is by trading, 99% if not 100 per cent of people thatt get involved in cryptocurrency come with a mindset of making money through trading. But the question is why is it that majority failed in achieving their set goals and target?
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In this write-up, I will look at four factors that affect people negatively when it comes to trading. These are my ideas which I discovered over the years.
Move by Emotion
Move by emotion: many people have lost their money in crypto trading because they are moved by emotion. One of the things a crypto trader needs to do is to know how to handle their emotion, and not buy or sell their coin based on emotion.
Improper Training
Improper training on how to use the trading platform: a lot of people do not know how to use the indicator proper when it comes to analysing chat and this has affected them in losing a lot of money.
Wrong Prediction
Wrong prediction: to be very honest we cannot always be right all the time with our predictions but majorities of our predictions should be right.
Fear
Fear of taking risks: we need to take calculated risks to attain our desire goals when it come to trading, some people find it difficult to take risks because of their negative experiences before and this has affect them negatively when it comes to trading.
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The moment I saw the heading what ran into my mind is definitely greed. Truth be told, there is every tendency that greed in cryptocurrency is hard to curtail. We are all guilty of this.
Yes that's true. And this greed really affect us negatively.
There was a time when almost everyone that heard about cryptocurrency was rushing into it, even without gaining prior knowledge about the means of operation, and of course, a huge loss was recorded. It is definitely a very wise decision to learn about something first before going into it fully.
Honestly, it not all about, you can make money there. If you lack adequate and require knowledge, the person can also make huge losses there.