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?
 

Sotherefore

VIP Contributor
There are a lot of crypto traders that can predict market as high as 90% accuracy and I know of one of them,people that are losing in cryptocurrency do not have the necessary information that is needed to succeed in trading of cryptocurrency that is why they lose, I am a crypto traders but I still rely on signal from top experts.
 
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Mika

Valued Contributor
One of the main reasons why people lose money in crypto currency is because they think crypto currency is getting rick quick scheme. Which is not true. Another reason is they are impatient. They cannot wait for a longer time to see better profits. Thirdly, they invest in the wring coin at the wrong time.
 
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Bookwormlux

Valued Contributor
One of the main reasons why people lose money in crypto currency is because they think crypto currency is getting rick quick scheme. Which is not true. Another reason is they are impatient. They cannot wait for a longer time to see better profits. Thirdly, they invest in the wring coin at the wrong time.
When one check the price of top coins like BTC, LTC, Ethereum and the others five to ten years back, it would show how patience plays a very Vital role in understanding the crypto currency space, but it is unfortunate that a lot of us lack it and we are always losing out as a result.
 
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Alexandoy

VIP Contributor
My take on losing money in crypto trading is lack of knowledge and experience. Trading is like gambling that if you do not use your sense of logic then you can gain today, you can even gain tomorrow but your luck will run out and you will lose all your holdings. Be calm and use your mind to think of a good decision in trading.
 
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