FREQUENT MISTAKES early users make on Binance ✖️✔️ Learn instantly

✖️ 1. FOMO Trading (without understanding)

Mistake: Buying coins just because they are trending or someone on Social Media.

Reason: You don’t understand the project, its use case, or market cycles.

✔️: Always research the project whitepaper before investing.

✖️ 2. Ignoring Risk

Mistake: Investing all money in one coin or trade.

Reason: One mistake can wipe out your funds.

✔️: Use the 1–5% rule: risk only a small portion of your portfolio per trade.

✖️ 3. Using High Leverage Too Early

Mistake: Jumping into futures with 10x to 100x leverage without knowing the risks.

Reason: Can result in instant liquidation with small price movement.

✔️: Avoid leverage until you fully understand the market.

✖️ 4. Panic Selling

Mistake: Selling coins at a loss during normal market corrections.

Reason: Crypto is volatile; short-term drops are normal.

✔️: Hold your coins if fundamentals are strong

✖️ 5. No Exit Strategy

Mistake: Not knowing when to sell

Reason: Leads to holding a falling coin or missing profits.

✔️: Set TP and SL levels before entering the trade

✖️ 6. Falling for Pump & Dump Schemes

Mistake: Buying low-market-cap coins based on sudden social media hype.

Reason: These are often manipulated and collapse fast.

✔️: Stay away from coins with sudden suspicious spikes without real news.

✖️ 7. Blindly Copy Trading

Mistake: Copying influencers without understanding.

Reason: Their risk appetite, timing, and strategy may be totally different.

✔️: Learn to build your own strategy based on goals and risk tolerance.

✖️ 8. Trading Fees

Mistake: Constant trading without realizing how much is spent on fees.

Reason: Frequent trades eat your profit.

Tip: Use $BNB to pay fees (you get discount), and avoid frequent trading.

✖️ Fear Greef Index.

Mistake: Trading based on fear, greed, or excitement.

Reaon: Leads to poor decisions and losses.