Pitfalls Every Noob Crypto Investor Should Avoid

When it comes to investing in crypto, I’ve been on the two sides of the investment brunt, the brunt of “not investing enough knowing you could have” and on the side of the brunt of selling too early.

Both hurt as crazy but non of them compares to not taking profit, that one bites! Hard!

First, let’s talk about not investing enough when you could have and how it feels like the pain from when you slam the door of the car on your pinkie finger 🥵 but the driver is unaware and trying to move the car not knowing your pinkie is caught inbetween.

That shit can make a grown man cry, especially when it turns out that the investment over performed.

Close to this pain is the pain of selling too early!lmao. Imagine getting lucky with your crush, then you cum in 2 seconds!

Then she looks at you and smiles and gets up and walks away, eishhh, yeah it can pain. You’ll be lucky to get the second chance to redeem yourself.

Interesting thing is that they are different problems but they have the same solution which I’ll discuss further down

But you see that pain of not taking profit, then, everything goes to shit, is of a different breed.

Imagine this, you've finally done it—you've made that killer investment. You're watching the charts, and your coin is skyrocketing.

You're on cloud nine, thinking, "This is it. I'm gonna be rich!" But then, the greed bug bites, and tells you, "Hold on a bit longer, it'll go higher."

So you do. You hold. And then, just as unpredictably as it rose, the market takes a nosedive.

Suddenly, those unrealized gains evaporate into the digital ether. It's like watching a feast turn into crumbs right before your eyes.

Now I’ve gone through each of these so you wouldn’t have to.

Here are 5 ways to avoid feeling like you’ve been left out in the cold, strategies to help you dodge the bullet of regret, whether it's not investing enough, selling too early, or not taking profits at the right time.

1. Set Clear Goals

Before you even start investing, know what you’re aiming for. Is it long-term wealth building? A quick flip?

Setting clear, achievable goals helps guide your investment decisions and sets a benchmark for when to take profits or cut losses.

2. Use a Tiered Investment Approach

Don’t go all in or stay all out. Use a tiered approach to invest gradually. Allocate a certain percentage of your capital to invest at different price points or time intervals.

This way, you minimize the "what if" scenarios since you're playing both sides of the fence to some extent.

3. Have an Exit Strategy

This is crucial. Before the price moons, decide on an exit strategy. What percentage of your investment will you cash out at a certain profit level? Stick to this plan.

It can be tempting to keep holding for more gains, but remember, unrealized profits are just numbers on a screen.

4. Don’t Get Swayed by FOMO

The fear of missing out can lead to rash decisions. Just because everyone is hyping up a new project doesn’t mean you should throw caution to the wind.

Do your research, understand what you’re investing in, and don’t let FOMO dictate your moves.

5. Learn and Adapt

The crypto market is always evolving, and so should your strategies.

What worked yesterday might not work tomorrow. Stay informed, learn from your experiences, and don’t be afraid to adapt your approach.

When it comes to investing in crypto, I’ve been on the two sides of the investment brunt, the brunt of “not investing enough knowing you could have” and on the side of the brunt of selling too early.

Both hurt as crazy but non of them compares to not taking profit, that one bites! Hard!

However, every problem has a solution, truth is you cannot get it 100% right every time but you can take steps to avoid stories that touch. Have a plan, set your goals and stick to it. I hope I have been able to pass a message.

Thanks for reading.

images were generated with ai

Posted Using InLeo Alpha