Why some individuals are always losing money in crypto currency trading!

Bookwormlux

Valued Contributor
Crypto Currencies provide us with a very good way to make money in this our digital world Today if one really takes his time to understand what is expected of us.
Despite this prospects, there are things that would always cause us to lose our capital if we do not do away with them.
Some of them are
Gambling mentality
Some individuals see Crypto Currencies trading as gambling and so they do not even bother to do any research. They just invest in a coin because everyone else is doing so, this makes them to lose money and you always hear them saying it is a scam.
Proper research is needful in Crypto trading.
Ponzi scheme mentality
Some think they could just invest in some coin and then make 500 percent profits within a very short time. This makes them to get disappointed.
Lack of research
So many people fall under this category. They do not read anything to get updates about the crypto market, they do not know how to understand basic Crypto charts.
Lack of research also makes them ignorant about risk management strategies that could be applied to avoid losses. It also makes them ignorant about the concept of technical analysis which is very important in Crypto Currency trading.
What other reasons can you give?
 

sincerem

VIP Contributor
Your reasons are worthwhile @Bookwormlux. Those investors who ventured into crypto investment didn't take their time to read, study and ask questions before starting to invest on crypto.

Having a desperate mindset of making money quick from forex trading, have made people lose money whopping through inexperience. Experience is needed to get anything tangible around the investment scheme.
 
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Wisdom01

Valued Contributor
Thanls for this enlightenment post ,the factors i know are peer pressure ,because most newbie after seeing their peers investing on a certain coin they would jump into it ,so that they could make profit ,another factor i know is fear of missing out ,because many of those crypto investors usually have that fear that they might b
Miss out from a particular bull run ,so they just invest without doing their proper research
 
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btaliat

VIP Contributor
The last points is on point and the most reason why some people failed to make money and hereby make loss when it comes to cryptocurrencies. Most people only join a particular investment because it is in vogue without even considering the potential risk of even read more about the investment before venturing into it.
 
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Cinderella

Active member
Many people suffer from FOMO or fear of missing out and FUD or fear, uncertainty and doubt.
Yes, the main reason is lack of research and because of that, many people are easily carried away by some fluctuation in prices. They simply cannot control their emotions. Just like any investment program, knowing every detail of it is a must. One of the best skills we need to master in life is to learn how to control our emotions.
 
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Lens1000

Valued Contributor
Greediness is the real word to use inorder to qualify people of such. Cryptocurrency trading is not a get rich quick scheme. In fact, I can emphasize on it categorically, that you will win most of the time trading on the digital currency if you are not greedy.
Even If you do not have enough knowledge on cryptocurrency, you can still use the stop loss feature in trading
 
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sincerem

VIP Contributor
Lack of experience is a disease, people enter into trading with the mindset of making money fast without learning how to make money the money. That's when losses becomes inevitable for them. With experience we can take it far via trading and earn the reward that comes through it. Their is no point rushing, rather those interested on it should cool down to learn it.
 
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Bookwormlux

Valued Contributor
Lack of experience is a disease, people enter into trading with the mindset of making money fast without learning how to make money the money. That's when losses becomes inevitable for them. With experience we can take it far via trading and earn the reward that comes through it. Their is no point rushing, rather those interested on it should cool down to learn it.
This mindset of wanting to get it very quick has caused a lot of people to continuously make money. One of the key to success in business is taking time to learn, but some people would prefer to use trial and error method all their life than to spend quality time in learning what is expected.
 
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Good-Guy

Valued Contributor
Most people lack market research and analysis skills. Even many "expert traders" suffer from loss. When it comes to crypto trading, you must possess excellent research and analysis skills in order to "predict" what will happen next in the crypto world. Having said that, some people might have good trading skills and they might be able to make some profits.
 
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sincerem

VIP Contributor
This mindset of wanting to get it very quick has caused a lot of people to continuously make money. One of the key to success in business is taking time to learn, but some people would prefer to use trial and error method all their life than to spend quality time in learning what is expected.
Let them keep using trial and error that isn't by any way going to yield them dividends around crypto. Those old and outdated method is long gone via renowned and on demand investment scheme that requires lots of analysis, and researches, experience to make a mark. So anyone who is hoping that trading is like gambling, should continue gambling around it and thinking he can achieve success that way. To such person's surprise loss will become inevitable.
 
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Sotherefore

VIP Contributor
It is not anyone that are into trading of cryptocurrency that lost their money,those people that are losing their money are those people that believe that cryptocurrency is a get-rich-quick scheme, they are they are the arrogant people who are interested to make fast money.
 
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sincerem

VIP Contributor
When i first used demo account to trade crypto and forex, i understood every implications of starting trading without experience. I experience losses after loss cos i was trading without learning the basics back then, and i lost whopping amount of money. I calmed myself down after learning how trading works via demo account. To learn it, and study the market through various renowned crypto news site. I got to understand it more, and trade less, investing with what i can afford to lose. Since i learned it and understood the basics i haven't made losses that is disheartening, my profit is much better than my loss rate.
 
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Sotherefore

VIP Contributor
From my little experience and from my little research about cryptocurrency I think the reason why a lot of people are losing is because they do not understand what it takes for you to trade a volatile market, I just you believe that anyone who wants to go into trading must understand everything about it first.
 
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sincerem

VIP Contributor
From my little experience and from my little research about cryptocurrency I think the reason why a lot of people are losing is because they do not understand what it takes for you to trade a volatile market, I just you believe that anyone who wants to go into trading must understand everything about it first.
Just as i don't trade often, cos i never gotten all the necessary ideas, and techniques to trade full-time and drive profit from it. So i decided to go on the options i can afford to risk st the moment. Which is buying, staking of coins. Which such options, the risk isn't as much like trading it. At least i can see where my funds is heading to, can decide to take it out anytime.
 
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Sotherefore

VIP Contributor
Just as i don't trade often, cos i never gotten all the necessary ideas, and techniques to trade full-time and drive profit from it. So i decided to go on the options i can afford to risk st the moment. Which is buying, staking of coins. Which such options, the risk isn't as much like trading it. At least i can see where my funds is heading to, can decide to take it out anytime.
It is just now that I've just finished talking with one of my crypto expert about staking as you said, actually he told us to buy bake, cake and panther for staking purpose, but the issue here is that I do not even understand how this taking work, do you have any idea and how do you do it ?
 
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Good-Guy

Valued Contributor
The fact remains that no matter how good you are at predicting and analysing prices of cryptocurrencies, you just do not have that "magic bowl" to see the future of Bitcoin or any other cryptocurrencies. Being a layman, I think it is good to always follow what people like Elon Musk have to say and what world government officias are saying or doing to cryptos. This way, you will be able to observe crypto price.
 
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Bookwormlux

Valued Contributor
When i first used demo account to trade crypto and forex, i understood every implications of starting trading without experience. I experience losses after loss cos i was trading without learning the basics back then, and i lost whopping amount of money. I calmed myself down after learning how trading works via demo account. To learn it, and study the market through various renowned crypto news site. I got to understand it more, and trade less, investing with what i can afford to lose. Since i learned it and understood the basics i haven't made losses that is disheartening, my profit is much better than my loss rate.
How does one get a demo account to trade crypto currencies with and get some experience. I never got to know about any, so I am using my spot wallet balance to try out any new tips that I learn. I think it would be better to do trials with a demo account. How do I get one?
 
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sincerem

VIP Contributor
How does one get a demo account to trade crypto currencies with and get some experience. I never got to know about any, so I am using my spot wallet balance to try out any new tips that I learn. I think it would be better to do trials with a demo account. How do I get one?
Okay it's easier to get on board with demo account before going full-time trading to avoid any untimely losses. Promo.stormgain is a plus for you, it will provide you price signal, offer you chance of trading crypto using the demo account. Through the demo account and mining of crypto via their mining section, will reward you some virtual dollars when you exchange them to real coins and trade again.
 
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Bookwormlux

Valued Contributor
Okay it's easier to get on board with demo account before going full-time trading to avoid any untimely losses. Promo.stormgain is a plus for you, it will provide you price signal, offer you chance of trading crypto using the demo account. Through the demo account and mining of crypto via their mining section, will reward you some virtual dollars when you exchange them to real coins and trade again.
Thanks for that, I will go right away and get familiar with it. It is good to get used to provisions like this, since we do not lose real money even when we make some mistakes there, unlike using your real balance to try new methods and losing money which cannot be recovered afterwards.
 
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sincerem

VIP Contributor
Thanks for that, I will go right away and get familiar with it. It is good to get used to provisions like this, since we do not lose real money even when we make some mistakes there, unlike using your real balance to try new methods and losing money which cannot be recovered afterwards.
That's why it is called the demo account. You use the funded demo accounts to place trade with better amount of your allocated funds. With demo account you'll have a clear understanding about what to invest, coins to pick and merge them into demo coin and trade on. That's where i learned about trading through promo.stormgain until they banned me inexplicably.
 
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