If I had to invest $2,000 in BTC, ETH, and LTC, what assortment would be recommended?

So let’s talk about the five biggest trading mistakes that cause traders to lose money. And one of them is the account killer that I’m saving for last.

When you are trading, you need to have a trading strategy. You already know this, this is nothing new.

The 3 Key Elements To Every Trading Strategy

There are three key elements to every single trading strategy.

What to trade

First of all, a trading strategy tells you what to trade, right?

I mean, what stock or what options should you trade? What expiration? What strike price? So this is very important.

And as you know, I’m using my software PowerX Optimizer to find the best stocks and options to trade.

When to enter

Number two, a trading strategy, whatever trading strategy it is, has to tell you exactly when to enter.

When exactly should you buy or sell an instrument? Whether it is a stock or an option, it doesn’t really matter.

When to exit

Now, element number three is when to exit. Super important here and when we talk about exiting, there are two ways to exit, right?

So we can either exit with a profit and if this happens, then yay, this is good, right? Or losses are part of our business as a trader.

So sometimes we have to exit with a loss. And of course, nobody likes it, but it’s part of trading.btc to eth

So the key here is that you have to keep your losses small, right?

Anyhow, this is just a brief recap. These are the three major elements that every good trading strategy needs.

So let’s talk about the five biggest trading mistakes, especially considering that these are the things.

Trading Mistake #5

Trading mistake number five is trading the wrong stock or option.

What do I mean by this?

Trading the wrong stock or option means that you picked a stock and it is just diddling around while everything is taking off, right?

It happens. And this is where often I see that many traders are picking stocks based on news, right?

They hear, for example, “Tesla is making new all-time highs.” “Amazon is making new all-time highs.” Netflix, or Nio, the Tesla of China, right?

And then they’re jumping in and realize, “Oh, this is not going anywhere,” or it is going down.

So trading mistake number five, trading the wrong stock or option.

Trading Mistake #4

The next trading mistake is entering too early.

Has this ever happened to you that you were kind of right about the stock, but you entered way too early?

Let me give you a very specific example. Because right now, as we are still in this pandemic, airlines are being hit hard.

Let’s take a look at American Airlines.

BTC to eth

So here’s when the pandemic hit:

BTC to eth

And of course, when the pandemic hit airlines were just plummeting like crazy.

So you might say at this point, “Yeah, you know what? This is a good point to enter because airlines will go up again. People will travel again.” Right?

And so you might enter there or you might actually say, “Oh, this didn’t work. Let’s enter here as there at $10.”

Then they do in fact move up and you think, “Yay, I timed right.” But then it’s again coming down.

Has this ever happened to you that you entered a trade way too early before you should have happened it?

Now, especially if you are a PowerX Optimizer user, you know that with PowerX Optimizer and the PowerX Strategy you need to wait until it goes above a certain level.

Has it ever happened to you that you jumped into a trade before it actually went to the level? Probably, yes.

BTC to eth