COMMON MISTAKES MADE WHILE TRADING

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Where do I begin? What have I done wrong in trading? Sincerely, I don't believe I can count. Since I've always been a risk-taker and stubborn person, I've made a lot of mistakes before finally realizing that a good trader moves quickly and effortlessly. attempting to classify my trading errors, at least those that I can recall;

Over-Leveraging While leverage trading helps traders like us with little capital win big, it also makes losses worse. My price predictions are approximately 85 percent accurate, and time has demonstrated that I am a competent analyst. However, I have liquidated numerous accounts. What's going on? Over-leveraging.

With 50-120x leverage, I typically initiate a trade and then go all-in. This does not allow for trades to breathe, and ninety percent of the time, a small wick will be sufficient to break the account, resulting in my liquidation or margin call. The painful part is that even though I'm right, greed makes me lose money. Limiting my leverages took a very long time for me.

Fear of Missing Out (FOMO)there was a time, a friend of mine told me he saw flyers and posters about a new coin called Zugacoin (SZC), which was more expensive than Bitcoin at the time. There was a time Zugacoin was the top trend on Twitter.

He bought into the hype from a vendor at a high price of $53,000 with $200 and anticipated significant gains from the coin. He experienced the shock of his life when the coin dropped to $5 in less than 24 hours. He had less than $1 left after the $200 hole was filled. The coin has been pumping and dropping for a few more days, but it is currently worth about $100.

He made a very big mistake by allowing FOMO to take over. He now buy during dips rather than pumps; thus far, this strategy has proven to be the better option.

Thanks for reading