2 big mistakes of new investors make on the way to their first million.
An investor’s mistake is banal laziness or indifference to his own money. All profits are accumulated on the balance sheet of the investment program. Investors often save money to withdraw “more”.
Investment activity carries the risk of losing money. The main mistake of a new investors is the belief that investment sites will work forever. Systems don’t work that way. Often the money invested is burned out, and after losses destroy dreams for the near future. Therefore, never forget that you can only use free funds in any area of investment.
Mistake # 1 – Ignoring diversification
Example: new investors purchases 2-3 cryptocurrency assets or invests in 1 investment platform, and monthly invests all funds only there.
I can tell you right away that this is the wrong decision.
I publicly share information about my investment portfolio on my blog. I share my earnings and of the profit that I earned. But do not forget about diversification, even if the company looks reliable and stable.
Mistake # 2 – Emotions
There are general rules for controlling emotions:
- It is too late to buy a hyped asset, or a coin, if a large number of people, little associated with investments, invest large sums of money.
- If everyone sells an asset in a panic, this does not mean that you need to sell it too.
I do not recommend playing in a “casino” and spending large sums on trading.
- All mistakes of a new investors due to emotions and lack of knowledge, as well as misunderstanding of the stock market.
How can you reduce the risk of losing money on investment platforms? Read my article.
Ⓜ️ My blog will give you useful information how to study the field of investment. For a quick communication with me, write to me in telegram.