Think about it, how many times do you have to try to overcome a difficult stage in the game? Mistakes can cause frustration and misconceptions, but the ability to learn from them will help you grow financially and career-wise. Here are 10 principles that are always useful to master for any investor or trader, regardless of experience.
💪 Take responsibility
People who lost money as a result of bad investments were not forced at gunpoint to buy them. Blaming others for your mistakes is the worst thing you can do. Instead, try to learn from your bad decisions. Something went wrong? Greed? Poor risk management? Sometimes literally everything goes wrong, but admitting defeat is the first step to winning the next battle.
💡 Find your way
Not all people are cut out for trading. However, cryptocurrency has a place for developers, writers, analysts, content creators, marketers - specialists in almost any profile. Find your passion and what you are good at, develop that skill, and opportunities will follow.
🚫 If something is too good to be true, avoid it
Shillers will sell you crazy products that “guarantee” astronomical “safe” returns. We saw this with #UST and #LUNA , and it is very likely that we will see similar stories again at the next bull market peak. Security and huge interest cannot be combined in investments.
❌ Don't trust anyone
Puffed up influencers, popular influencers and regular shillers will always advertise their bags, convincing them that they will give 100 x in the coming months. Most of these shills are paid, don't forget that.
📈 Speculation is at the forefront of everything
Coins rise most often because people speculate on their potential value, and very rarely because of their actual value. Once the hype around a coin dies down, so does the potential profit, so new projects and narratives usually perform better. During a pump, always ask yourself if the project has true value.
💺 Don’t sit 100% in positions all the time
There will always be a narrative that will tempt you to go all-in on it. The fear of losing potential profits awakens greed. Don't make this mistake, you don't have to be in the game all the time. You can observe the market and plan your actions with a rational approach. Trading and investing is 10% action and 90% anticipation.
🔗 Don't collect coins
A common mistake many investors make is holding too many alts. The correlation between assets in the crypto market is still strong, so there is no point in holding a lot of coins instead of selecting the strongest ones. In this case, it will also be easier to manage risks.
🧩 Avoid categorical thinking
Not all projects are divided into “100 X’s” and “complete rubbish”. Between them there is a whole spectrum of better and worse projects. Remember, this is a game of probabilities.
🧘 Control your impulsiveness
Most investment mistakes come from people listening to immediate emotional sensations. Always subject them to rational analysis.
📉 Accept the importance of rect = loss
To become a successful investor, most people need to gamble at least once. This is a humbling experience that, if learned from (see point 1), will help you draw conclusions and adjust your strategy for the future. Always learn from mistakes - these are lessons, not failures.
Remember that success is a journey, not a destination. Continue to learn, develop and improve even when you face obstacles and setbacks. Your efforts and persistence will be rewarded, and you will become stronger and wiser on your path to financial well-being and professional success. Believe in yourself and move forward!
