Forgetting to take profit has always been my main problem when I trade, I keep altcoins, even when I know that they keep pumping and dumping. Another problem is buying a coin that's already have been pumping. I see a coin I was thinking about buying a few days ago, and now it pumps, and then I buy in too late and don't make any profit.
Lack of knowledge, lack of patience and not having a trading plan are some of the mistakes when trading coin. Never involve your emotions in trading, it totally affects us and completely disturbs our plans and actions. Continue to explore and learn more, do research and don't be afraid to fail. Effective traders are open to challenges and learn to acknowledge their mistakes, analyze and learn from them, because they know that it can improve their skills in understanding the market.Lack of knowledfe is really a common problem for all newbies. Tbh,i am also a newbie and entered this sphere around 3 months ago.But i have really strong willing and it helped me to develop me skills. Btw , i read really useful article on related topic on Monfex. Check it out.https://www.monfex.com/academy/how-to-develop-a-successful-trading-plan-139
The big mistake that leads to big losses is inattention. The cryptocurrency market is so volatile that it is almost impossible to keep track of everything. Nevertheless, professional traders are required to do this in order to make a profit. The strategy is also very important. What do you sell? What is your goal? What currency is it profitable to work with now? Do you understand that you can lose all the money invested in cryptocurrency? It is important to consider these factors before proceeding with trading.
