#TradingMistakes101 Trading Mistake 101: Chasing the Green Candle šÆļø
ā A Deep Dive Every Trader Must Read!
Ever caught yourself buying a coin just because itās pumping? š
Youāre not alone ā but thatās a classic rookie mistake.
š” Whatās the Mistake?
FOMO (Fear of Missing Out) kicks in when a coin is rapidly gaining, and without a plan, you jump in late ā often right before the price reverses. This is called āchasing the green candle.ā
š Real Example:
Letās say:
$SOL is up 20% in 1 hour.
Social media is hyping it.
You panic and enter at the peak.
ā Result?
The price dumps 15% after you buy. You either hold and hope⦠or panic sell at a loss.
š¦Why Itās Dangerous:
ā
No entry plan
ā
No stop loss
ā
No understanding of trend support/resistance
ā
Emotional decision, not technical
ā
What You Should Do Instead:
Wait for a pullback ā Smart entries happen during dips.
Confirm with technicals ā RSI, moving averages, trend lines.
Use a stop-loss ā Protect capital, always.
Have a strategy ā Scalping? Swing? Position?
š Pro Tip for Binance Traders:
Use Binance's Advanced Chart Tools or TradingView Integration to:
Set alerts š²
Mark your zones
Avoid emotional trades
š§ Key Takeaway:
š āThe market rewards patience and punishes emotion.ā
Your job is not to trade everything ā your job is to trade smart.
š Tag a friend who keeps chasing pumps!
š¬ Drop your worst FOMO trade in the comments. Letās grow together.
#Binance #CryptoTips #TradingMistake101 #Write2Earn #CryptoEducation
#FOMO