Huge losses!
1. Buying any currency without understanding
Sees a currency jumping 20% in an hour, so he jumps in to buy it without knowing its project or the reason for its rise.
The result? He buys at the peak, and it drops immediately.
My advice: Only buy when you understand the project, its goals, and the right time to enter.
2. Not using stop loss
He is afraid to set his losses and thinks maybe it will go up, so he just watches his portfolio collapse.
This is very dangerous.
Advice: Determine from the start how much you are willing to lose, and don't leave the trade open just on hope.
3. Investing all his capital at once
He puts all his money into one currency, or at the same time, without diversification or risk management.
And if he loses? He loses it all.
The right way? Divide your capital into stages or different currencies, and don't put all your eggs in one basket.
Binance is a strong platform, but dealing with it superficially can destroy your portfolio.
Start learning, and make your goal to stay in the market, not just quick profits.
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