There are some common mistakes in crypto that are mostly seen among new investors who make these mistakes for various reasons. We all make these mistakes at some point or another, even if you are new to crypto trading, you have already made one (or all) of these mistakes. But the truth is that we all make these mistakes at some point or another. But the smart thing to do is to learn from these mistakes and learn about them. But if you don’t fix them, you will be out of the market faster than your first stop-loss. So let’s talk about these mistakes.
[source](https://pixabay.com/photos/chart-stock-market-iphone-dollars-6716410/)
Our problem is that we are less likely to learn. We don’t want to learn but jump into the pits without learning anything. Another problem we have is that we don’t analyze anything ourselves but rather a tweet, a hype video, or a person on YouTube. When we see them flipping from $100 to $10K, we jump in. But here we have no plan, no education, no clue before investing. And our inefficiency leads to our losses because our jumping like this is not a business but a kind of gambling. And the market gambler eats alive.
Another major problem we have is that when we hear or watch tempting videos about how to earn good amounts from the market, we sell our valuables or take loans to invest. But what about us, snack money, bus fare, or what is left in our wallet after the weekend? We don't care about that. You are not serious - and your results will reflect it. Treat trading as a real business, not a side hustle driven by pocket change.
When we invest in all these markets, we have an idea and a kind of excitement within us expecting to get rich in a week or double our money overnight. Why? Because some random guy posted a $400K PnL screenshot? Reality check: Consistent profits take time, patience and losses. There are no shortcuts. You’ve seen someone post “100x long steem NOW!” - and you FOMO’d without asking why. This is how newbies blow their accounts. Just because they win doesn’t mean you will. You need your own system, not luck.
You’ve made a loss - even blown your first $50. Now you’re crazy. “The market is driven.” “Crypto is a scam.” No, it’s not. You just went in with zero preparation and expecting miracles. Everyone makes mistakes in the beginning. That’s normal. What's not right is to keep making the same things over and over again and blaming everything except your own lack of discipline.
