10 Crypto Trading Mistakes That Will Leave You Broke

Here are 10 common mistakes made by beginning traders that you should avoid at all costs.

Starting with real money rather than paper trading There is no reason for a beginning trader to use real money when there are endless resources and platforms for paper trading, including Tradingview.

Trading without a stop lossBeginning traders tend to trade emotionally, which manifests in refusing to quickly accept losses.

Within my crypto portfolio, 70% is long term holds, with 15% in cash and 15% for trading.

Failing to keep a trading journalSuccessful traders have a plan.

This is the best way to learn and avoid repeating trading mistakes.

A trader who wants to be a professional needs to be able to support their entire life with trading - that means their profit must cover their living expenses, without eating into their trading capital.

As a result, many beginning traders find themselves under a great deal of stress when their expected trading returns fail to align with the actual results they produce.

Acting on trading patterns and indicators that are not clearly understoodBeginning traders are terrible at technical analysis.

Beginning traders should develop a very simple system for trading and avoid making decisions on patterns or indicators that they do not fully understand.