5 Traders Share What They’ve Learned From Trading Crypto
If you ask the average crypto trader about their journey so far, you’re likely to get a mixed bag of answers. Some may have more good stories to tell like how they made money from the 2021 Bull run. Others may sigh deeply and shake their heads because the losses are still fresh in their minds.
As with most journeys in life, there are lessons to be learned. For this blog post, we asked 5 crypto traders about what they've learned so far from navigating the crypto market. Below are the answers they shared.
Blessing, 2+ years of trading experience
I am impatient, but trading taught me to sit and wait and watch things play out as long as my analysis was done correctly. Also, I now understand the value of little profits at a time. Most people just want to make a huge profit in a short time frame, but with trading, you learn to appreciate the little 2% here and there.
Williams, 2+ years of trading experience
Crypto trading taught me to trust my instincts more and know when to back down from things and look at them again, no matter how tempting it may be to continue pursuing them. Also, always take your profit and use Stop Loss.
Tony, 3 years of trading experience
Trading taught me patience. It sharpened my decision-making abilities, and I learned not to jump on everything you see in the crypto market.
A. Williams, 3 years of trading experience
Several lessons have stood out to me from my years of trading.
One, Patience - While some people make it quick in Crypto, others just have to go through that journey of consistent hard work before actually making real money, and I was one of them. Two, Discipline - In the Crypto market, if you allow FOMO to rule your actions or do something outside your trading plan, it’s likely to result in heavy losses. Three, Contentment - I learnt that taking profit irrespective of the size or amount should be a top priority as no one knows the heart of market makers. Four, Humility - No matter how much you make from trading, there's always someone richer and smarter than you. So to become better, learn from them.
Juwon, 7 years of trading experience
Don't be greedy if you want to keep your gains. For the periods I tried to not be greedy and just take 10% every day, I made wins. But each time I was greedy, I had many losses. Also, don't buy Crypto when there's hype in the market; buy when people want to sell.
Cryptocurrency trading offers a gateway to financial success. And like with any other investment or business venture, wins, losses and lessons are part of the journey. If you're ready to start your crypto journey, join over 20,000 users on Obiex by creating an account today.
Disclaimer: This article was written by the writer to provide guidance and understanding of cryptocurrency trading. It is not an exhaustive article and should not be taken as financial advice. Obiex will not be held liable for your investment decisions.