There are several things that contribute to failure in crypto space, these are few mistakes that investors don't count very serious, but they determine the success one have in building a crypto portfolio. I still remember my first year investing on cryptocurrencies I made some stupid investment decision that make me failed on my investment. The way everyone look at crypto, is not the way it's, we look crypto investment as something others are doing, you can also do best without a good decision or maje q good research anout any project.
One thing about failure is that, if you failed and you recognize your point of failing, it will help you to achieve success in your next trying but if you failed and don't want to make any further attempts you are not calling for the success. Failure is part of the game and that why i will always share what I learned in my first year trading cryptocurrency.
Why are you failing is a good question to ask yourself and I believe after this piece you are going to find one of the reason why you are moving to success but still failing in your Crypto investment.
Why are failing?
Rushing: First things I noticed is that most of us want a quick gratification and that make us rushing in taking investing decision. You don't have yo rush into crypto, cryptocurrency investment is not like other traditional Investment, this is volatile market that have to be approach with logic, but because we want a quick buck on our investment we make a wrong decision. For instance, the first time i want to trade $RUNE, I rush to buy when the pump has finish party, and i lost some of my bucks on it.
Failed to screenshot your last mistake: Most of us made the same mistake time to time because we already forgot the same error have happened to us previously, is either you sell when the coin is pumping or you don't wait for normal time to trade. Learning from previous mistakes help us to step into the crypto game, we always heard of experience is the best teacher, but only for those that learn from their experience. If you dont learn you will still be in the same circle, commiting same mistakes again and again.
You are not doing your own research: after going through latest trends, and recommendations always make your own research maybe what you are about to invest on is align with your goal. Font just jumped into an investment because you see people talking about it.
Trust your decision: One of the thing we all need is teust in ourselves, we need it all yo avoiding making a mistakes. I believe reason many are failing is because they don't trust their decision, when you don't trust your decision it will be difficult to make a good investment decision and when you can't make a good investment decision you're contributing to failure.
You are afraid of losing: This is the common factor that cause failure, though crypto is volatile everyone should be alert not to lose its fortune on crypto but there is limit to what you should think about crypto volatility since is not new to you, so why afraid much because you don't want to lose. This act have contribute a lot to investors failure, they panic sell when it moves a little against their pick trade. In fact because they are afraid to lose many monitors their investment time to time.
You are comparing yourself with others: Why did you have to compare yourself with others, don't follow someone positive news, because someone make a big bucks in btc and you make a small bucks is not worth comparing yourself with them. Crypto is individual game and everyone has different time to bullish. Don't compare yourself with other people, what dey can afford to lose you might not be able to afford it, but because someone investors want to be like someone they end up failed.
And lastly, learn how to increase your knowledge about cryptocurrency this has be the reason why some failed because they have half knowledge.
I believe crypto is a way of financial freedom if you know how to deal with it.
Thanks For Reading, I hope this piece is informative.
Best regards @adeyemi12