🚨🚨 My Mistakes as a Crypto Beginner 🚨🚨
My Mistakes as a Crypto Beginner which you can avoid:
1: Don't get FOMO (Fear of Missing Out)
2: Don't cut profits
3: Secure profits
So I started Crypto in October last year as a total beginner. I thought you can make money quickly only by futures (Not realizing you can also lose money quickly). So started futures and got 70$ of loss by just longing or shorting coins . 70$ is a good amount (not much but a fair amount) in my country.
I then started spot because it looked safe to me and also they were too low . The bull run was also in initial phase.
So I bought some coins like storj , dot and some other . I got a lot of profit in storj . Slowly steadily I recovered all my loss and was in profit.
But here are four examples where I missed amazing profits
1: I bought 4 farm coins at 39.45 and after 3 days it pumped to 68 . I didn't book profit and waited it to go more but It came down and I sold it at 44 with just 25 dollar profit instead of 112 . I sold it and next day it went again to 60$ . I again got FOMO and bought at 56 and waited for 2 months and sold at 58 and after some 2 weeks it went to 128 .
2: I bought id at 0.032 and sold at 0.046 . But it went to 1.70. I sold that coin because I had no knowledge of consolidation or retracement
3: I bought bel for a big amount of usdt at 0.91 and sold at 1.03 to buy mdt . I sold bel just before the pump to 2.68 . I had previously set my orders at 2.50 . So I almost missed 330 usdt profit
So as a beginner crypto trader you need two things to keep in mind when buying in spot and selling in spot
1: Follow narratives like AI narrative took wld to 11 , fet to 3 and many other coins got too high
2: clear goals and patience. Don't be a jumping rabbit and just rely on your projects.
Will like to share more such tips in my next posts