Alla Morine Fsza
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Common Mistakes New Crypto Traders Make.
At first, the zeal to start trading is always there, most especially when you have been dealt with poverty, using myself as a case study here 🥵😂. In all, our desperation shouldn't lead us into temptations. Below are the top 3 Mistakes made by new crypto traders.
1. TRADING WITHOUT HAVING A PLAN.
most newbies jump into a trade with having a clear meaning and understanding of that trade, you have to know your entry, stop loss, when to take profits and stick to your plan regardless of emotions.
2. OVER LEVERAGING.
The mindset of get rich quickly have dealt with most newbies, using high leverages on volatile coins will place them on an angle where they can be easily liquidated.
3. Chasing Pumps.
Seeing a coin pump 30% and jumping into it and often ends on buying at the top, instead of waiting for pullbacks and confirmation to know the exact time to enter. Chasing Pumps is gambling and not trading.
Trading entails consistency, attention , commitment and mind maturity , above all protection of your capital is very essential and Paramount .
which mistakes have you made so far, drop a comment let's help improve
#bitcoin
#CryptoEducation💡🚀
#BinanceSquareTalks
#CryptoTradingInsights
At first, the zeal to start trading is always there, most especially when you have been dealt with poverty, using myself as a case study here 🥵😂. In all, our desperation shouldn't lead us into temptations. Below are the top 3 Mistakes made by new crypto traders.
1. TRADING WITHOUT HAVING A PLAN.
most newbies jump into a trade with having a clear meaning and understanding of that trade, you have to know your entry, stop loss, when to take profits and stick to your plan regardless of emotions.
2. OVER LEVERAGING.
The mindset of get rich quickly have dealt with most newbies, using high leverages on volatile coins will place them on an angle where they can be easily liquidated.
3. Chasing Pumps.
Seeing a coin pump 30% and jumping into it and often ends on buying at the top, instead of waiting for pullbacks and confirmation to know the exact time to enter. Chasing Pumps is gambling and not trading.
Trading entails consistency, attention , commitment and mind maturity , above all protection of your capital is very essential and Paramount .
which mistakes have you made so far, drop a comment let's help improve
#bitcoin
#CryptoEducation💡🚀
#BinanceSquareTalks
#CryptoTradingInsights
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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