š Where Should I BUY and Where Should I TAKE PROFIT?
šÆ Beginners' Dilemma Unlocked!
Youāve just spotted a āhotā coin. The chart looks promising.
You feel the urge to buy. Butā¦
Where exactly should you buy? And where should you take profit?
Welcome to the eternal riddle every beginner faces.
Letās solve it.
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šµ The Common Beginner Mistake:
Buying at the Top, Selling at the Bottom.
Why?
Because emotions, FOMO, and random decisions ruin the plan.
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š Step 1: Know the Right Place to BUY š
Ask yourself:
ā Is this a support zone (price level where buyers previously stepped in)?
ā Is this after a pullbackānot during a full-blown pump?
ā Are there any technical indicators confirming entry (RSI below 40, MACD crossover, bullish candlestick pattern)?
Golden Rule:
š Buy the dip only if thereās confirmationādonāt catch falling knives blindly!
> š” āYou make your money when you buy, not just when you sell.ā
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š Step 2: Know When to TAKE PROFIT š°
Ask yourself:
ā What is your target profit? (E.g., 3%, 5%, 10% gain?)
ā Is the price near a resistance level (a price where it previously struggled)?
ā Are you watching the volume and momentum?
ā Are indicators saying it's overbought (RSI > 70, bearish divergence, candle exhaustion)?
Pro Tip:
šÆ Set a Take Profit (TP) in advance ā and stick to it.
> š” āGreed is the graveyard of profitable trades.ā
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š§ Smart Traders Use This Strategy:
ā Dollar-Cost Averaging for Entries
Donāt go all in at once. Enter in parts. Buy small chunks at support zones.
ā Partial Profits for Exit
Donāt sell everything at once. Lock in some profit, trail the rest with a Stop Loss.
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š Final Nuggets:
š” No Entry is Perfect. No Exit is Perfect.
The goal is to trade with a plan, not with emotions.
š„ When in doubt: Draw your buy & sell zones on the chart.
Set your risk-to-reward ratio.
And STICK to your setup.
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š£ Binance Fam:
š¬ Drop your biggest BUY/SELL blunders below.
š Letās learn together. #CryptoForBeginners