Let me tell you something nobody wants to hear: 90% of crypto traders lose money. Not because they're stupid. Not because the market is rigged. But because they make the same mistakes over and over.

I lost $3,000 in my first month trading. Thought I was smart. Thought I could outsmart the market. I was wrong.

Here's what I learned the hard way.

Mistake #1: Trading With Your Emotions

You see Bitcoin pump 10%. Your heart races. FOMO kicks in. You buy at the top. Then it dumps. You panic sell at the bottom. You just lost money twice.

This was me every single day.

The fix? Wait. Breathe. Ask yourself: "Am I buying because of analysis or because of fear?" If it's fear, close the charts. Walk away.

Mistake #2: No Plan

Most people buy crypto and hope it goes up. That's not trading. That's gambling.

Every trade needs three things:

  • Entry point (where you buy)

  • Stop loss (where you admit you're wrong)

  • Take profit (where you sell)

Write it down before you buy. Stick to it. No exceptions.

Mistake #3: Position Sizes Too Big

This killed me. I'd put 50% of my portfolio into one trade. One bad trade and I'm destroyed.

The rule: Never risk more than 2-5% per trade. Sounds boring? That's the point. Boring keeps you alive.

Mistake #4: Chasing Pumps

Coin goes up 50% in a day. Twitter is screaming about it. You buy. It dumps immediately.

Rule: If you didn't know about it before it pumped, you're too late. Let it go. There's always another trade.

Mistake #5: Not Taking Profits

I turned $500 into $2,000. Didn't sell. Rode it back down to $400. Pain.

Take. Profits. Even small ones. Lock in gains. The market doesn't owe you anything.

What Actually Works

After losing money for months, I changed everything:

1. I only trade setups I understand

No random coins. No hype. Only patterns I've seen work before.

2. I use a journal

Every trade goes in a spreadsheet:

  • What I bought

  • Why I bought it

  • Entry, stop, target

  • What happened

  • What I learned

This changed everything. I could see my mistakes clearly.

3. I stopped watching charts all day

Set your entry. Set your stop. Walk away. Staring at charts makes you emotional.

4. I accepted losses

Losses are part of trading. Even the best traders lose 40-50% of their trades. The key is winning bigger than you lose.

5. I focused on risk, not profit

Stop asking "How much can I make?" Start asking "How much can I lose?"

Protect your downside. Profits take care of themselves.

My Current Strategy (Simple)

I trade support and resistance. That's it.

Support = price level where buyers usually show up Resistance = price level where sellers usually show up

When price hits support, I look to buy. When it hits resistance, I look to sell or take profit.

I wait for confirmation. I don't guess. I react.

The Mental Game

Trading is 90% psychology. Here's what helps me:

Start small. Trade amounts that don't make you sweat. Build confidence first.

Celebrate small wins. Made $20? That's progress. You learned something.

Don't revenge trade. Lost money? Close the charts. Come back tomorrow. Revenge trading always makes it worse.

Have a life outside crypto. If trading is your entire identity, you'll make emotional decisions. Go outside. See friends. Touch grass.

Tools I Actually Use

  • TradingView for charts (free version works fine)

  • A simple spreadsheet for tracking trades

  • Coingecko for quick price checks

  • Alerts on my phone for key levels

That's it. No fancy bots. No paid groups. No $500/month indicators.

What I Wish Someone Told Me

Getting rich quick is a lie. But getting rich slowly? That's possible.

Focus on not losing money first. Profits come later.

The market will humble you. Let it teach you.

You don't need to trade every day. Sometimes the best trade is no trade.

Small consistent gains beat big risky wins.

Tomorrow's Post

I'll break down exactly how I find trades. Step by step. The actual process I use every single day.

No fluff. Just the method.

Your Turn

What's your biggest trading mistake? Drop it in the comments. Let's learn together.

Remember: We're all trying to figure this out. Nobody has all the answers. But we can help each other avoid the worst mistakes.

Stay safe out there.

Not financial advice. Just sharing my experience. Do your own research. Never invest more than you can afford to lose.