Things I will avoid, If am Starting Crypto/Forex Trading and Investment Today.

Well, when it comes to trading we have different place and types of things to trade on.

 Example; Crypto, Forex, Stocks, NFTs, and Commodities. 

In this article we shall elaborate specifically on Crypto and Forex Trading, because i understand this is the vast space with major engagement of new trading enthusiast. Shall we?  Let's begin. 

It's very precise to detect incoming errors as a crypto expert who made millions from it, unlike the newbies without the knowledge of fundamental analysis. 

This is very crucial to decide to execute for people who are just into the business. 

Crypto Cold Wallet complete beginner's guide.  

Key Takeaways:

Forex/Crypto:

"Forex Trading" is the trading of currency pairs where a trader is allow to select it's desired pairs, time and execute it using up and down, in some brokers is "buy and sell". 

Who/What is a Broker? 

Broker: This is a platform that allow users who register and verified their identity to trade altcoins and currency pairs, by making a deposit of the broker minimum requirements or more. The deposit and withdrawal method are mostly on Bank Transfer (Fiat), USDT, and other popular Crypto Currency and blockchain. 

Broker Selection:

This is where the scammers disc joke with your fund, by creating a fake website, app or platform that may track your personal information, hidden details, pass codes and wallet phrases. This type of brokers usually promises users "heaven on earth", insane promos, and additional deposit giveaway. 

I have used "quotex broker" is good and fair, it's cons is that it only takes hours and sometimes even days before deposit or withdrawal carry out successful. 

💣Recommendations: Use YouTube and all necessary places to make your personal research. 

Wrong Analysis

Fundamental analysis in trading, help shape the mind of a trader, focus and clarity. But sadly a lot jump into the system without the basic orientation. And thus results to massive loss. 

Historical Report:

Prediction of the market charts is essential before executing a trade. So as to secure and increase the chances of profit. 

I suggest you watch the chart from its 24hrs, Weekly, and if necessary Monthly reports. 

Hint: knowledge is the backbone of every industry and it's future. Operating smart and precise will only cost you research, times of  trials and more alike, but not failure. 

Education: 

You may like to explore broader? goto places like Coursera, Alison, Udemy, and explore the world of WEB3, obtain certificate in trading with brokers and CEX Exchange. Dig deep into the field "illiteracy never pays" once you understand the basics, then you will see how beautiful the trading algorithm is. 

Heavy Investment 

Wrong or heavy investment can clutter for bigger profit at instance without prior knowledge of the crypto invest in, some coins are rug pulls and some are failed projects. Get yourself to know what you are embedding your fund on. Investing right is the biggest 

Trading is a best place for investment where small become great and little become mighty, but that's when careful suggestions are made. 

Desperation 

🔥 What “desperation” means in trading

It means you are trading "emotionally", not strategically.

That usually happens when you’re:

• Trying too hard to make money fast
• Trying to recover losses quickly
• Entering trades without patience
• Forcing trades even when the setup is not goods
• Fear of missing out (FOMO)

 💣 “Desperation trading” 

causes:

1. overtrading
2. revenge trading
3. entering late
4. exiting early
5. ignoring risk
6. chasing the market
7. bigger losses

Because this type of  decisions comes from "fear and pressure", not logic. 

💡 Signs you're Trading with Desperation. 

If you notice yourself thinking things like:

• “I must win this one”
•  “I need to recover this money”
• “I’m tired of losing”
• “Let me just enter something”
• “This coin is moving, let me jump in now”

If the above hold,  then you’re not trading, you’re gambling. Which is blindly risky. 

Trade With Caution:

• trade only planned setups
• use stop-loss always
• accept small losses
• risk small amounts (1–3% per trade)
• never chase a pump

Focus on consistency, not jackpot trades

Trading requires patience, discipline, and cold logic. Most traders don’t lose because of strategy.

They lose because of  "emotions and lack of patience".

Your mindset is more important than your entry.

Enter/Exit

In trading your entry and exit is very important;

• Enter late
• Exit early
• Hold losses
• Cut winners
• Panic decisions

Enter Late: late entry due to fear of loss might even result to more loss. 

Exit early: Some trade at first tend to look unprofitable and thus create doubt and conception amidst trade, making traders to exit early without profit. 

This habit in trading could only earn you a name "you're trader" but wouldn't let you grow. 

Take Note: Every trade is a risk, it just become more risky when the trader is obsessed and emotional attached to make more profit or to regain lost trades. 

 

Backup Capital 

This is the primary stage where a lot of traders blow their account and easily went bankrupt. 

Suppose a trader have $1000 entirely, and deposited all the amount in few trades and loss, that's not only a lost trades, but a broken mind which may result to emotional bias. 

Disclaimer

All the information details above aren't a promise of fortune or a way to hit a jackpot, Rather a guide on how to reduce risk in trading field.