Part 4/8:
One of the most common pitfalls in trading is the behavior of FOMO-ing into investments during moments of extreme price surges. This often results in buying at inflated prices, leading to exorbitant costs and inevitable losses when the market corrects. Instead, patience and strategic buying during dips can yield better entry points and risk-reward ratios.
2. Don't Rush Decision-Making
In the crypto world, preservation of capital takes precedence over hasty profit-making decisions. The speaker champions the philosophy, "When you're trying to make money do it slowly, and when you're trying to protect money do it quickly." This mindset fundamentally shifts the approach to trading, focusing on thoughtful, measured actions rather than impulsiveness.