# 🚨Top 6 mistakes traders thinking

By [Crypto4light](https://paragraph.com/@crypto4light) · 2023-04-10

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1.  Do not perceive trading as a profession/craft/work. Some people think that trading is a casino. Associate trading with a freebie and a "money" button. They think that you can enter trading, become a millionaire and never work again.
    
2.  Purchases during growth stages. On a subconscious level, it is easier for us to buy when growth is visible, when everything is green. But this is the wrong decision.When the market gives a certain increase, then we should expect a price correction (fall). When buying an asset at the top (in a growing market, on highs), we get a drawdown, because The price starts to correct and reverse.Due to such situations, more often than not, beginners receive a loss, which negatively affects their trading psychology.Buy when the market is down, when fear is high, these are great entry points for trading.
    
3.  Lack of patience. Having bought an asset and realizing that the market is starting to fall, some people expect that the market should immediately go in the direction they originally expected (growth).But trading is so arranged that it is important to have patience. Those who do not know how to wait choose both the wrong moment for buying and for selling. In a panic, they sell at inappropriate stages, lose their deposit and get a quick burnout, disgust from trading.
    
4.  Desire to get rich quick. When people enter trading with the desire to get rich instantly - only after losing a significant amount of money, they realize that their expectations are too high. Such people do not calculate their risks. The market is not assessed. They go to the entire deposit in one coin. As a result, they get a drawdown of 40-50% and the loss of a significant part of the deposit.
    
5.  Fear of Lost Profit (FOMO). People are afraid of not making money. A long-term trade with a prospect of 20-40% attracts more than short-term small pluses. Some receive information in paid channels on how to make 200-300%. The prospect is attractive. But these people do not consider intermediate profit taking. Market situations are different, a sharp reversal can occur. And there is a risk not only not to get what you want, but also to remain in a strong minus. It is impossible to become a millionaire with one transaction. We need a system, regularity and a well-coordinated process.
    
6.  Thinking that trading is easy. To think that there is nothing complicated in trading and not to see the point of investing money in education is obviously a failure. Some people believe that there is no need to study and try to defend their convictions, they include stubbornness somewhere, but as a rule they lose many times more than the cost of training. Did you notice such mistakes? I wish you all successful and correct trading! ✅
    
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*Originally published on [Crypto4light](https://paragraph.com/@crypto4light/top-6-mistakes-traders-thinking)*