HomeTrading fundamentalsCommon Psychological Challenges & Misconceptions
Common Psychological Challenges & MisconceptionsLevel: Beginner

FOMO

- he Fear of Missing Out, biggest psychological mistake in crypto. FOMO leads to 2 specific mistakes: taking on more trades and opening bigger positions than your system dictates.

Pure fear

(loss aversion) - it’s when a trader is so scared of losing money that they fail to notice and execute on trades.

Revenge trading

- this is when a trader gives too much weight to recent statistics while disregarding older ones

Gambler’s fallacy

- this is a way of thinking that takes trading from being systematic and profitable to being a gamble with unpredictable results
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