1. Trading Without Learning
Many beginners jump into crypto trading without understanding the basics, relying only on social media or friends. This often leads to losses.
2. FOMO (Fear of Missing Out)
Traders often buy coins when prices are rapidly increasing due to fear of missing out. This usually results in buying high and selling low when prices drop.
3. Overtrading
Frequent buying and selling on small price movements leads to high fees and emotional decisions, which can result in losses.
4. Not Using Stop Loss
Failing to set a stop loss can cause massive losses if the market drops suddenly. It's essential for risk management.
5. Putting All Money in One Coin
Investing all your capital in a single coin is very risky. It’s always better to diversify your investments across multiple assets.