🚫 DO NOT DO THIS! Top 3 Rookie Mistakes That Cost You MONEY in Crypto
Attention, future PRO traders!
You already have a solid foundation, but the market is cunning. Here I reveal 3 classic mistakes that beginners make and that you can avoid starting today:
1. 📈 Trading by Emotion (FOMO & FUD)
The Mistake: Buying because "everyone is talking" (FOMO) or selling out of panic (FUD).
The Solution: Have a PLAN before trading! Don't let fear or greed drive your decisions.
Remember (Part 4): Your Stop-Loss is your emotional shield.
2. 💸 Risking More than You Can Afford to Lose
The Mistake: Putting vital money (rent, food) or risking 5% or 10% of your capital on a single trade.
The Solution: Apply the 1% Rule (or 2% maximum) that we discussed in Part 5! Trading is for risk capital.
The Mindset: Protect your capital as if it were gold. Without capital, there is no trading.
3. 📉 Not Using (or Moving) Your Stop-Loss
The Mistake: Seeing the price drop and moving your Stop-Loss lower thinking: "it will go up again". A small loss turns into a disaster!
The Solution: Once your Stop-Loss is set, DO NOT MOVE IT against you! Only move it in your favor (to secure profits).
The Discipline: It is the difference between the trader who survives and the one who burns out.
Avoiding these mistakes will put you ahead of 90% of beginners!
If you liked this list to protect your capital, give it a 'Like' ❤️ and follow me for more tips that will make you a smarter trader.
👇 Tell me in the comments: Which of these mistakes has cost you the most money or learning?
