3 Most Common Mistakes That Have a Huge Impact on Investors.
#1 Fomo: fear of missing out. This rationale comes from the fact that you are new to the market, have little experience, and are excited to see others making money from an opportunity that you missed. Now you say that if only you had joined at that time, your account would have multiplied many times.
This drives you to have a fear of missing out on future signals and opportunities, and you fear that there will be no more chances like that. But in reality, the market always has many opportunities; if there is no opportunity this time, there will be another one.
These thoughts will lead you to foolish actions later.
1. Enter all the trades that you find appealing or hear about from a group sharing signals.
2. Increase the volume - Trade larger amounts with the desire to make more money to recover all the missed opportunities before.
So what is the remedy for this mindset?
* You should leave chat groups, especially those that easily exchange continuous opinions in real-time.
Why do I mention this? It's simply because you can easily be influenced by a constant influx of information and get swept away by it. To be honest, discussions about knowledge are few, and gossip is plenty. You should only follow channels that share useful knowledge, and importantly, their frequency should not take up too much of your time; you should only receive knowledge and then practice on your own.
The internal strength is what matters. If you still do not know how to invest on your own, or find good entry points, I advise you to pause everything to invest time in learning more about yourself rather than participating in groups waiting for entry signals from others.
What you need is a specific and clear strategy for entering and exiting trades so that you can control your trades according to the market.
The analysis of others' commands should only be considered as a tool for reference, and not as a lifeline for yourself.#Write2Earn! #Write2Learn