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10 Crypto Trading Mistakes That Will Leave You Broke

Published 10/06/2019, 02:30 PM
Updated 10/06/2019, 03:01 PM
10 Crypto Trading Mistakes That Will Leave You Broke

The crypto market has extremely low barriers to entry, meaning anyone with an internet connection, a smartphone or a computer and a bit of starting capital can theoretically become a trader. Sadly, most of these beginners learn hard lessons and go broke. Here are 10 common mistakes made by beginning traders that you should avoid at all costs.

There is no reason for a beginning trader to use real money when there are endless resources and platforms for paper trading, including Tradingview. Anyone interested in becoming a professional trader should first develop a system based on a simple set of guidelines for their entries, exits and risk management. This should not be done with actual money. Paper trade until you are ready to lose your mind, then paper trade some more.

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Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
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