Some things that harm us financially are out of our control, like market crashes. Or maybe some of our analyses were not accurate enough. But some PREVENTABLE destructive trading habits hurt us much more than the other factors. Have you had such habits?
All markets have their ups and downs.
Apart from big scale crises like a market crash, traders have an everyday enemy.
This enemy comes from within. It is our destructive trading habits. Like what? We have a list.
#1 FOMO
Fear Of Missing Out happens in soaring markets. Don’t move based on the fear of missing an opportunity.
#2 Revenge Trading
When experiencing losses, do not rush trade to compensate. Take a step back and reorganize.
#3 Not Diversifying
All professional traders put some good assets in their portfolios. Do not rely on a single coin.
#4 Fixating
Fixating on a coin or a project makes you blind to the flaws, and all the good in other assets.
#5 Wealth Mismanagement
Selling all your property and assets only to focus on the crypto market? That’s a recipe for disaster.