Follow the crowd blindly and jump into a trade after it a coin has already skyrocketed is another frequent mistake that can be dictated by the fear of losing the train considered winning. When requested, experienced traders will leave trades on their own plans. For newbies, on the other hand, greed is often a frequent sentiment in trading.
Finally, accepting a loss and moving on to the next trade is a talent every trader should have, even if it takes some time to learn. It is therefore essential to always establish a loss threshold beyond which to stop, to avoid losing everything in the unpredictable cryptocurrency market. To establish a stop-loss on a trade, investors need to know how much money they have to work with and how much they want to lose, using stop-loss orders in every single trade.