1. Lack of Research (FOMO/FUD Trading)
Mistake: Buying coins just because of hype (FOMO: Fear of Missing Out) or panic-selling due to rumors (FUD: Fear, Uncertainty, Doubt).
Fix: Always DYOR (Do Your Own Rese$arch). Understand the project's fundamentals, not just price trends.
2. Overleveraging in Futures Trading
Mistake: Using high leverage (e.g., 20x, 50x) without understanding the risks.
Fix: Only use leverage if you fully understand liquidation risks and have a strategy.
3. No Risk Management
Mistake: Putting all your capital into one trade or not setting stop-loss orders.
Fix: Use stop-losses and diversify your trades. Risk only 1–2% of your capital per trade.
4. Poor Timing – Buying the Top/Selling the Bottom
Mistake: Entering after a major price spike or exiting during a crash.
Fix: Learn to identify market trends and use technical analysis to find better entry/exit points.
5. Ignoring Trading Fees
Mistake: Overtrading without realizing how fees add up.
Fix: Factor in trading fees, especially for small or frequent trades. Consider using BNB for fee discounts on Binance.
6. Leaving Funds in Hot Wallets
Mistake: Holding large amounts of crypto on the exchange.
Fix: Withdraw to a cold wallet (e.g., hardware wallet) for long-term storage.
7. Emotional Trading
Mistake: Letting greed or fear dictate your decisions.
Fix: Stick to your trading plan and strategy. Don’t revenge trade after losses.
8. No Trading Plan
Mistake: Entering trades without an exit strategy or profit/loss targets.
Fix: Define entry, exit, stop-loss, and take-profit levels **before** you trade.
9. Chasing Pump-and-Dump Schemes
Mistake: Getting lured into obvious pump groups or shady projects.
Fix: If it looks too good to be true, it usually is. Stay away from manipulated coins.
10. Ignoring Account Security.
Mistake: Not using 2FA or having a weak password.
Fix. Enable 2FA, whitelist withdrawal addresses, and use strong, unique passwords.
