Even with a good trading strategy, primary emotions such as fear and greed can turn the results upside down. When a trader experiences large swings in his profit and loss account, which is quite common with crypto holdings due to their erratic movements, such emotions tend to escalate.
Working on trading psychology while controlling greed and fear appears to be beneficial for traders looking to profit in the cryptocurrency market. Furthermore, traders must have the discipline to stick to their respective trading plans and understand when to book profits and losses.
While these pointers can assist crypto traders in avoiding common blunders and shortening their learning curve, they are not a replacement for extensive experience. As a result, it is critical for traders to continue learning throughout their investing careers in order to become proficient in crypto trading. Remember, "when it comes to investing, the market is the best teacher"!