10 Crypto Trading Mistakes That Cost Me $5,000 and How to Avoid Them

Alertforalpha shares his top 10 crypto trading mistakes that wiped out his first $5,000. He highlights common pitfalls such as FOMO buying at market peaks, relying on exchanges without holding private keys, chasing dubious altcoins, ignoring market cycles, overlooking gas fees, insecure password practices, emotional trading, overconcentration in a single coin, falling for influencer hype, and lacking an exit strategy. For each mistake, he offers clear fixes: wait for market dips, use hardware wallets, focus on established projects, recognize bull and bear phases, optimize transaction fees, enforce strong passwords and 2FA, set rules to curb emotional trades, diversify across assets, conduct independent research, and plan profit-taking levels in advance. By studying these crypto mistakes and implementing simple solutions, traders can protect capital and make informed decisions. This guide emphasizes security, discipline, and long-term strategy over quick gains, helping crypto traders navigate volatility and avoid costly errors.