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Why Majority Of Crypto/forex Traders Loose Money In The Market - Business - Nairaland

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Why Majority Of Crypto/forex Traders Loose Money In The Market by Justicecreft: 10:08am On Nov 27, 2023
While about 3-5% make money consistently in the crypto trading space,the other 95% breakeven or loose very much and there are similar behaviours and patterns unsuccessful traders follow and which i would like to shed light on

1. Low quest for knowledge

Most unsuccessful traders have this in common,the only thing on their mind coming into the trading space is the profit that could be generated not the knowledge that can potentially bring the profits. Improve your trading knowledge and get good results

2.Your risk management is terrible

Did i just say it's terrible,ooh sorry you don't even have one to begin with. You never have a specific amount you budget to loose in every trade. You gamble everything in the accound in a single trade then turn around to blame the market.

3.Trying to make a month profit in a single trade

Sorry to break it to you but you won't actually become elon musk in a single trade so don't even try. Trade it little by little,have a specific amount you set aside to use per trade

4. You only see profits

If the mentor you employed to teach you told you at one point or another that the only thing involved in trading,I'll advice you meet him for your money back cause he just lied to you. Trading is a game of losses and wins ,that's how it is

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