1. Buying at the Peak
Many rush to buy after a coin spikes, only to watch it tank soon after .
Avoid this: Wait for pullbacks. Use indicators (like RSI) and enter near support levels.
2. No Exit Plan
Entering a trade without set take-profit or stop-loss levels often leads to panic decisions .
Fix this: Define your exit targets before buying and always use stop-loss orders.
3. Overlooking Fees
Frequent trades add up: 0.1% per trade can eat into gains if you're not careful .
Solution: Use limit orders and pay fees with BNB for discounts.
4. Chasing Hype Without Research
Buying popularity-driven coins often leads to pump-and-dumps .
What to do: Always DYOR (Do Your Own Research)โcheck fundamentals before investing.
5. Overtrading
Jumping into every small movement causes stress, errors, and fee spikes .
Prevent this: Trade only high-quality setups and set daily/weekly limits.
6. Putting All Funds in One Coin
Betting everything on one asset risks everything if it fails .
Better approach: Diversify across several coins to spread risk.
โ Quick Checklist for Smart Spot Trading
Wait for price pullbacks (not peaks)
Always set take-profit and stop-loss orders
Use limit orders and pay fees with BNB
Research coinsโdonโt follow hype blindly
Trade only top setups, not every dip
Diversify instead of going all-in.