How I Messed It Up, And You Shouldn't

Let's talk about selling today. As a trader who has lost a significant amount of money on day-to-day trades, I think I can tell you my mistakes so you don't do them. I have always believed that when you need to seek guidance about something it should be from a guy who failed at it and not from a guy who is successful. Because success can come in so many ways everyone may have their methods. Everyone may have their own style of approaching the problem. But mistakes are common. If you don't look at it from one of the correct angles then it is a mistake and you will fail. So if you know where not to look, you're free to look everywhere else. That has always been my philosophy. It shouldn't be the same for you. You have your own ideas. Anyway, maybe my mistakes will help you not repeat the same. ---  [Source](https://www.freepik.com/free-photo/spreadsheet-marketing-budget-report-file-concept_16449029.htm) --- So the first and most rookie mistake I made was I didn't set a target. Yes, in this volatile market which changes every minute I actually thought that I time it and get out when it's the highest number. Who's the biggest dumb? Of course it's me. This made me lose quite some money. So what you will do is will sit in Target say it will do 10% or will be 20% or 50% profit on your investment and then you exit that trade. Don't get booked by the “I will catch the uptrend” bandwagon. You won't always be able to time it. There are some helpful indicators on the trading platforms such as the Bollinger bounds, which can help you to learn more about the resistance and support levels of the coin you want to trade. Similarly, when you are losing money, don't be so hopeful about it bouncing back. There'll always be a next time. If you are really in free fall, cut your losses as soon as possible. Say 10% to 15% and you should be out. Yes, on the off chance it might happen that the coin goes down 20% and then it bounces is back and does a 50% uplift. You will lose all that momentum but at least your money will be secure. Yes, you may have lost 15% but there is always next time. You can make your money back. And now comes reinvesting it. After you've sold that night, take some time and look around both in the real world and the crypto world. See what's what. You need to know what is actually going on before putting your money on the line. Again, this would eliminate a lot of risks I can tell. And then if God was it you might 2x your money someday on some trade which will be enough to cover multiple lost trades, if you have them. The thing is you consistent and don't go