Here are the 7 most common mistakes that 99% of investors make that prevent them from accumulating great wealth.
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1. Overestimating your Alpha
Sometimes we overestimate our alpha and just keep investing more and more.
Even if the project performs well, what's the benefit for you if you have not booked any profit?
2. Thinking you are early
If you really know whether you are early or not, then
-Follow on chain movement.
-Research about the project even before tokens are available.
3. A big VC invested
If you think that any project is backed by some big VCs, then it will not fail.
âșAlways remember that they are humans and can make mistakes too.
Ex- #3AC , #AlamedaResearch
4. Anonymous Founders
There are many projects that went to zero with anonymous founders.
It doesn't mean that if any project has a founder who is known publicly, that project won't fail.
But at least you can get to know about their background.
5. The project is audited.
Third-party firms review the code and give it a thumbs up.
But still, bad actors can exploit the code and drain the money from the project.
So don't just invest blindly in a project on that basis.
6. Dunning-Kruger Effect
We often think we are geniuses in a bull market and start to leverage more.
Remember, when people start to flex their #BTC and crypto gains, it's probably a top signal, and we need to exit the market.
7. No control over emotions
The market always transfers wealth from the impatient to the patient.
People often make investment decisions when they're emotionally unstable, which often results in huge losses.
Learn new things every day and do research on the way markets work.
Focus on making money, as the goal should be to be rich, not to look rich.
Meditate regularly to have better control over your emotions.
If you lost a trade, don't panic; sit back and analyze your trades rather than going #100x to make it all back in one trade.
And finally, don't be so harsh on yourself if you are not getting what you want. Remember, good things take time; great things take a little longer.
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