My journey in the crypto world has been a rollercoaster of highs and lows, marked by valuable lessons learned through mistakes. The first, and perhaps most costly, is my tendency to hold onto coins for too long, hoping for even greater profits instead of selling at a predetermined percentage. This lack of planning has led to missed opportunities and regrets.
Another mistake I've made is doubling down on losses by reinvesting in the same coin, hoping to increase my margins when it rises again. However, more often than not, this strategy backfires as the coin continues to drop, leaving me with even greater losses. I realize now the importance of proper technical analysis (TA) and setting stop-loss (SL) and take-profit (TP) levels to mitigate risk.
Lastly, I've neglected to use SL and TP orders when buying coins, leaving myself vulnerable to sudden market fluctuations. This lack of risk management has cost me dearly and taught me the importance of implementing these safeguards in every trade.
Through these mistakes, I've gained invaluable experience and a newfound appreciation for discipline and strategy in the crypto market. Moving forward, I am committed to applying these lessons to make smarter, more informed decisions in my crypto journey.
