1. Always use stop loss:
Protect your capital. Do not let a losing trade destroy your investment portfolio. Set a stop loss to exit automatically when the price moves against you.
2. Do not trade based on emotions:
Fear and greed are your worst enemies in trading. Stick to your plan and do not chase pumps or engage in revenge trading after a loss.
3. Start with spot trading:
🚫 Avoid trading futures if you are a beginner. Start with spot trades and understand how the market behaves.
4. Use the Binance Testnet platform:
📱 Practice trading without risking real money. Test your strategies before starting actual trading.
5. Monitor market size and trends:
Always look at indicators📊 and market trends. Do not trade against the market trend.
6. Avoid using high leverage:
⚠️ High leverage significantly increases risks. Beginners should stick to a leverage of x2 or x3 at most, if available.
7. Diversify investments wisely:
Do not put all your capital into one cryptocurrency. Spread your capital across strong projects to reduce risks.
8. Follow Binance news:
🗞️ Use the (News) tab in the Binance app or follow Binance on X/Twitter for updates on new listings, maintenance, and airdrops.
9. Use limit orders:
Do not always buy or sell at market price. Use limit orders to improve entry and exit points.
10. Keep learning daily:
📚 The cryptocurrency market is rapidly changing. Stay informed and always enhance your knowledge of technical indicators, risk management, and market structure.