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

[Bookwormlux]

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?

 

[Cinderella]

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.

 

[btaliat]

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.

 

[Wisdom01]

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

 

[sincerem]

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.

 

[Chibson]

Cryptocurrency trading is currently one of the best kind of businesses anyone can venture into on the internet and make some good amount of money for him or herself. There are a lot of people who are making thousands of dollars on daily basis as cryptocurrency and the thing that anyone can actually do that but it depends on your level of expertise and knowledge.

Sometimes many people tend to lose a lot of money in cryptocurrency trading and the reason is because they do not have enough knowledge of how cryptocurrency works and the right time for them to take profit. when I started cryptocurrency trading newly i made a lot of mistakes by actually not taking profit as at when due.

People who take cryptocurrency trading and gambling will always continue to lose their money cryptocurrency trading requires a lot of research and some level of knowledge for you to be an expert and start making some good amount of money for yourself.

If you really want to make a lot of money from cryptocurrency trading you need to learn technical and fundamental analysis in order to become very consistent with it. It is always important you make a lot of research before investing in any cryptocurrency.

 

[coin456]

You lose money in crypto because you don't plan you investments very well and just gamble and speculate that the speculation

 

[Ithedicious]

I don't understand how to trade even though I have been researching so much on cryptocurrency and I don't even see the need for me to start trading cryptocurrency now that I do not understand because it would definitely end in loss. From all indication the volatility in cryptocurrency is much more than any other market.

Even if I have to start trading cryptocurrency now , I believe it is the right thing for me to pass through the normal professional training to get started because at least that will help me make money as a cryptocurrency trader without having to lose so much.

It's not easy and we also have to understand that it requires a lot of dedication and time to be able to succeed in the crypto market as we are thinking . You cannot just start earning in cryptocurrency immediately you have gone through the normal process , you still have to also learn from your experience along.

 

[captainKazoo]

Numerous novice traders continue to suffer losses in the market due to a lack of knowledge and experience. It's better to have a thorough understanding of the market and a thorough knowledge of it. The only way for beginners to achieve success is to proceed in this manner.

 

[Phytology]

Fear of missing out has to be the biggest reason why traders fail at crypto trading. Most novice traders feel that they should have bought bitcoin earlier so that they would have been rich by now. This makes them buy bitcoin at the wrong time and at the wrong price.