Common Psychological Challenges when #trading
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In #crypto trading, two emotions can ruin the results of an otherwise outstanding trader. These are greed and fear. However, it’s not enough to know these two emotions. You also need to understand how they manifest themselves so you don’t fall victim to them.To help you do that, this article will go over some of the more common psychological challenges in crypto trading.FOMO (Fear of Missing Out)The first and perhaps biggest psychological mistake in crypto is FOMO: the Fear of Missing Out.Traders with FOMO believe that every trade can be a winner. They don’t like to sit trades out for fear of losing profits, and don’t pay much attention to losing trades because they believe in their ability to recoup losses quickly.FOMO leads to 2 specific mistakes: taking on more trades and opening bigger (...)