So hope I got your attention with a catchy clickbait title. It stays true people suck in trading for many reasons and especially in the crypto environment.
Trading isn't a natural skill but with some basic discipline, you can improve big time.
There 3 things you can do:
- You have no position(you didn't complete your research/trade plan or the price is somewhere in the middle between a buy and a sell in your opinion.) This is a good and underrated position. See liquidity (free money) as bullets for opportunities. A good example is the first days/weeks of https://cubdefi.com. You would make a lot of money if your cash/coins were ready to ''go''. A very big problem with novice traders is that they always want all money invested that same day :D
- You have a position if you are in this stage it means you have done your research and you can answers the questions below with ease in roughly this order:
- What do I want to buy?
- Why do I want to buy it?
- Do I know how many coins, shares, cap, inflation, richlist, etc there are?
- Who owns this company/coin or who develops it?
- Are you convinced it will outperform other investment opportunities?
- Did I make a technical analysis to find a decent entry price or am I currently in a FOMO stage?
- At which price is it a good investment, what will I do when the price drops, when do I take profit?
- How much time can I miss this money, do I need this in a month or a year?
The 3rd position is to stay a dumbass
Go buy Doge, watch screamy youtube videos about investors, pad yourself when you become a millionaire because all other dumbasses also buy doge.