What Are Common Mistakes of Novice Crypto Traders?

[Suba]

Crypto trading is not only aimed at making profits but also as a diversification of investment, because traders are generally also investors, so they must set aside some of their crypto for trading capital. However, there are still many novice traders who often fall into the same mistakes over and over again. Therefore, we need to discuss it. So in your opinion, what are the common mistakes that novice traders often make?

 

[King Belieal]

Novice crypto traders are always prone to placing trades based on FOMO. And most times, it might just be hype.

 

[Nomad]

Some traders are too greedy and want to keep waiting in a hope that the price will continue to ho higher.

 

[eLdavis]

For most beginners, they see crypto trading as a get rich quick scheme, hence they put in everything they have hoping to cash out quickly.

 

[Stardom22]

Most novice crypto currency Investors sell their crypto currency on the start of the bullish trends. Instead of waiting for the peak of the trend they are being led by emotions to make decisions.

 

[Augusta]

Some traders are too greedy and want to keep waiting in a hope that the price will continue to ho higher.

This is always the undoing of novice traders. They want to make so much money and this makes them become greedy

 

[Stardom22]

The most common mistakes that the novice crypto traders does is the selling of the crypto coins while being led by emotions. That oftenly leads them to sell at cheaper prices for sure.