10 Deadly Trading Mistakes That Will Cost You Money - Don't Make Them Again!
Stop gambling, be smarter! These 10 pitfalls have been encountered by 90% of people, especially the last 3, many are completely unaware.
1. High Leverage
Using 20x or 50x leverage? A single large bearish candle can wipe you out completely.
Correct Approach: Do not exceed 5x leverage, and always set a stop-loss!
2. Emotional Trading
FOMO (Fear of Missing Out) when prices rise, panic selling when they drop? This isn't trading; it's giving away money.
Correct Approach: Follow your strategy, don’t watch the market constantly, set alerts and close the computer.
3. Neglecting Security
Clicking on a fake airdrop link can lead to your wallet being drained. This happens every day.
Correct Approach: Use hardware wallets, enable two-factor authentication, and only trust official websites.
4. Mindless Copying
Jumping in on a tweet from a popular influencer? In the end, you’ll be left holding worthless coins.
Correct Approach: Research the project yourself—check supply, team, and whether it has real use.
5. Trying to Recoup Losses
Lost money and immediately want to revenge trade? This only leads to greater losses.
Correct Approach: Take a break, review mistakes, adjust your mindset, then return.
6. No Trading Plan
Buying and selling based on gut feeling? You may profit a few times by luck, but you will eventually lose it all.
Correct Approach: Learn some real skills and execute strictly.
7. FOMO Buying on Hype
Only entering when you see TikTok or Twitter hyping a coin? Congratulations, you’ve bought at the peak.
Correct Approach: Wait for a pullback, don’t rush in at the highest point.
8. Betting Too Big on a Single Trade
Going all in with 50% of your capital? This isn’t trading, it’s suicide.
Correct Approach: Limit losses to 1%-2% per trade; let probability work in your favor.
9. Not Keeping a Trading Journal
Don’t know why you lost money, or why you made money? You will never improve this way.
Correct Approach: Record every trade and review regularly.
10. Trading Too Frequently
Making dozens of trades in a single day? Exhausting yourself while paying fees to the exchanges.
Correct Approach: Trade less, only take substantial opportunities.
Keep this checklist handy and review it weekly!
Trading is not gambling; if you want to survive, you must play by the rules.
Are you stuck? When to buy the dip? As always, if you're confused and helpless about what to do, tap on my profile and comment. I need followers; you need references.
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