Master your emotions. Control your mind. Trade with discipline.
Understanding these mental traps is the first step to avoiding them.
Fear Of Missing Out - the anxiety that you're missing a profitable opportunity. Leads to impulsive buying at peaks.
Fear, Uncertainty & Doubt - negative information spread to cause panic selling. Often used by whales to accumulate at lower prices.
Only seeking information that confirms your existing beliefs while ignoring contradictory evidence.
Over-relying on the first piece of information you see (the 'anchor') when making decisions.
The pain of losing is psychologically twice as powerful as the pleasure of gaining. Leads to holding losers too long.
Continuing to invest in a losing position because of what you've already invested, rather than future prospects.
Following the crowd without independent analysis. 'If everyone is buying, it must be good.'
Overestimating your ability to predict market movements, especially after a series of wins.
Fear Of Missing Out
There will always be another opportunity. The market never closes. Missing one pump is better than buying the top.
Fear, Uncertainty & Doubt
Verify before reacting. Check multiple sources. Remember: scared money doesn't make money.
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