In a risky world like trading, research and long-term preparation is crucial before you dive risking your funds trading in the market. But do trading research and efficient market data analysis guarantee the success of every trade? Of course, it won’t. Everything boils down to our own experience in trading. The longer you’ve been exposed in the market, either trading or purely investing, the bigger the chances of success. And the higher your risk tolerance, the more you become motivated to trade more even if it means losing at some point.
Some people don't understand that losses are inevitable in trading. No matter how much time you spend in this industry, how experienced and knowledgeable you become, and how good you become with trading practices and techniques, you should still not expect to have a 100% success rate because that isn't possible. There will be times when you will face losses, and that is fine, there is nothing wrong with facing losses as a trader in an unpredictable market such as this.
Losses in trading are a normal thing. If you are getting profit for most of your trades but lose some money in between the trades, it's all good unless you take that to heart and start getting demotivated by that. A good trader would positively use such things and learn from their mistakes.
If you lose in a trade, you should try to find out what you did wrong that caused it, and when you find it, work on it so that you don't repeat it.
Even if you are a long-timer in this market or so-called expert, you can't guarantee that you will always have a profit on this market. As you can't have the full control of market movement, you are just left to speculate and act on it.
Also, as you will go thru your trading journey, you will pick-up some tricks that you can apply the next time you execute a trade.
Been trading for years with different coins and what I learned throughout the years -
- at least check the background of the coin > devs are mostly after for the quick gains
- does the platform have actual usage to the community?
- why is the liquidity so high (pump ongoing!) or so low ('bout to die)? in what exchanges it is listed?
- does the website ever mention about some developmental work?
- how about the community of the coin? if no one is talking about it, better discard it as soon as you can.