One of that hardest things new people find when coming into the crypto trading space is that this is not like a regular market. Cryptocurrency is a very different market, and the prices of Cryptocurrency often don't follow the same trends as a normal market and because of this it is very easy to lose a lot of money off of FUD(Fear Uncertainty Doubt). I am by no means a pro and I still have a lot to learn, and I may not be able to tell you the best things to do, but I do know what you SHOULDN'T do. So here are the things that I think will lose you a lot of money.
Don't Try to "Buy on the Rise"
What I mean by this is that it's no debate that the market is very volatile, so when a coin shoots up by 400% in a matter of minutes its clear to say that this is the next Ethereum right? WRONG! People are constantly pumping their coins and trying to get the most profit for when they dump their coins, causing a massive crash. So just because you see the price of a coin flying doesn't mean that you should buy in right away.
Don't Keep swapping coins
If there's one thing I've learned its that HODLing is almost always the best option. Unless a coin is on the brink of collapse chances are your coin isn't collapsing and running away is just going to hurt your profits. The greatest enemy of a trader is yourself.
Don't trust Anyone
Our greatest enemy may be our self but our second worst enemy is every forum, image board, and social media site that anyone gives investment advice on. If you go to any of these sites you will see that around every corner you will see scammers, people shilling bad coins, and of course, pumpers. People are constantly trying to get rich quick by buying up the whole supply of these coins and jacking the prices up as high as they can. Just because you see someone say a coin is great and that it is the next Ethereum doesn't mean you should trust them.
