{"id":123397,"date":"2021-05-01T20:09:11","date_gmt":"2021-05-01T20:09:11","guid":{"rendered":"https:\/\/precoinnews.com\/?p=123397"},"modified":"2021-05-01T20:09:11","modified_gmt":"2021-05-01T20:09:11","slug":"bad-experiences-of-crypto-investments-to-learn-from","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/bad-experiences-of-crypto-investments-to-learn-from\/","title":{"rendered":"Bad Experiences Of Crypto Investments To Learn From"},"content":{"rendered":"
Everyone wants to trade crypto because it\u2019s so lucrative. Though it\u2019s still new (only about a decade old), most people thought it was going to end within a few years, and it\u2019s just grown stronger.<\/span><\/p>\n Therefore, you may want to invest in it now, but you aren\u2019t sure how to start. While you may have heard horror stories about crypto investors losing it all, those are just a few bad experiences. Every market has them. Remember the stock market crash in 1929? You may not have been there, but it\u2019s in the history books to remind us that nothing is perfect.<\/span><\/p>\n While everyone isn\u2019t going to fall into this line of thinking, most people do at some point. It\u2019s usually when they\u2019re starting out, and they have all that fresh knowledge about the crypto market. You may have done well in math and go perfect scores in all of your classes. In fact, you read up on the market and understand everything.<\/span><\/p>\n The goal is to become an expert, but the problem is you may think you are one when there aren\u2019t any. Many investors fall into the trap when things suddenly click, and they understand how things are done. Still, that doesn\u2019t mean there\u2019s no room for advancement because there is!<\/span><\/p>\n Trading isn\u2019t just what you know;<\/span> it\u2019s psychological<\/span>. Anyone can learn how to read indicators, make charts, and gauge the market cycle. However, you have to go a step further and learn the concepts to try them out.<\/span><\/p>\n The challenge with accepting any market strategy is that they\u2019re all counter-intuitive to how a human thinks. You may want to buy, buy, buy, but good traders don\u2019t use that strategy. Doing that means you may avoid a particular cryptocurrency because it is new or unknown.<\/span><\/p>\n Smart people often beat themselves when trading because they\u2019re resistant to using proven market strategies. You may think you\u2019ve come up with the perfect solution, but volatility is going to bring you down. We aren\u2019t saying that you should never test out something new, but you have to put in the study and research (indicators, charts, and market theory) to do well.<\/span><\/p>\n A pump and dump (PnD) group is a platform that promises significant returns without any work involved. Many investors have tried this and failed miserably. Everyone wants that \u201cquick fix\u201d because it\u2019s in our nature to get what we can without much effort.<\/span><\/p>\n Typically, these PnDs have low market caps, so they bump up the price quickly, and you think you\u2019re winning. You join a group to follow their \u201ccalls\u201d to get easy money.<\/span><\/p>\n Unfortunately, that rarely happens. Most PnD groups work like this:<\/span><\/p>\n That\u2019s not to say that some new platforms aren\u2019t worth their weight in gold. <\/span>Check this crypto platform I find worthy<\/span> if you want to have regulated trades and security tokens with backing.<\/span><\/p>\n Everyone is going to lose money when trading because that\u2019s part of the game. Even market experts who have been doing it since Bitcoin came out are going to lose money.<\/span><\/p>\n It\u2019s impossible to get each call right, and there\u2019s going to be times where things just don\u2019t go your way. You have to learn how to accept those losses and continue moving forward.<\/span><\/p>\n There are tons of stories about people who have great success with the market and lost it all later. You don\u2019t want to become one of those because you are going to practice good investment strategies. However, you still have to be disciplined in this risky and volatile crypto world.\u00a0<\/span><\/p>\n We aren\u2019t saying that you aren\u2019t going to lose a lot of money because you might if you\u2019re investing a lot. However, there are ways to avoid losing so much. For example, you should never invest more than you have to lose. Don\u2019t gamble with your life savings or your retirement fund. Make sure you can cover all of your bills before putting a cent into the crypto market. That way, that money can be considered something to play with. If you lose it, darn the luck! If you win, you have more money to play with or remove from the platform.<\/span><\/p>\n Think of your favorite team sport and player. They don\u2019t win every game or play they make. It boils down to net profit, and that\u2019s what you want to see over the course of six months or a year.<\/span><\/p>\n Don\u2019t use emotions in trading. They are going to be at their peak levels. If you make a perfect trade, you\u2019re going to feel on top of the world. However, that can lead you to make a bad trade. From there, you may panic and drop everything, which can come at severe losses.<\/span><\/p>\n Do a little research on some of the past crypto investments people have made. That way, you can learn from them. These tips are also sure to help. Once you\u2019ve done that and are ready, it\u2019s a good idea to go with INX. This trading platform is going to be fully regulated, so it\u2019s safer. However, trading anything comes with risk, so be careful and mindful.<\/span><\/p>\nStill, here are the top bad experiences that most crypto investors fall into and how you can avoid that situation:<\/span><\/h2>\n
I\u2019m Smarter than Everyone Else, So I Won\u2019t Make Their Mistakes<\/b><\/h2>\n
Don\u2019t Join a Pump and Dump Group<\/b><\/h2>\n
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Losing Tons of Money (Entire Life Savings, Home, Car, Etc.)<\/b><\/h2>\n
Emotional Trading<\/b><\/h2>\n
Conclusion<\/b><\/h2>\n