There are many mistakes that beginners make in trading or investment. Almost everyone is committed to trading cryptocurrency errors, and for some, it takes years to learn until you can. If you are a beginner trader then by reading this post, so it can help you to reduce losses and become a profitable trader. Another good thing to deal with is knowing how cryptocurrency codex could help you prepare your trading even without making the mistake.
– Purchase a falling coin
Do not buy something just because there is no value. You must wait for confirmation from the market that the trend has changed. identify the price confirmation that you easily recognize for example with technical analysis, before you decide to buy the coin.
– Not learn from previous purchasing mistakes
If you’ve ever made a wrong purchase, you probably know how easy it is to keep your position falling and falling. If your mind says not to buy in this position, then it’s good to see your previous experience and you’ll find the best information.
– Be anxious about your trading
If you open a position in the market to make your sleep difficult or your mind becomes chaotic, because you to trade with capital is too big or you are not confident enough about what has been done. If the risks interfere with you, subtract your trading amount. If you are not sure what you see, remove open positions and wait for better opportunities.
– Too focused on profit & loss
Too focused on the advantages and disadvantages, and this will lead you to stop losses that are so fast or take profit so short, so you will get a very small profit. Instead, look for levels on the chart such as supply and demand zones and observe price action in those areas. Personally, I often attach stop loss when the price approaches that level. That way, you will be able to continue driving trends if the price breaks the level, and protect yourself from the downside.