#BinanceHODLerPLUME Trading in cryptocurrencies is an attractive field but fraught with risks, especially for beginners. The main mistakes to avoid:
Entering without sufficient learning: Some open accounts and buy currencies without understanding basic terms like support, resistance, and technical analysis.
Investing a large amount from the start: Excessive enthusiasm can lead to losing all capital without an alternative plan.
Not using stop-loss: An important tool to determine the maximum loss and protect the capital.
Emotional trading: Fear and greed ruin decisions; sticking to the plan is essential.
Relying on others' recommendations without analysis: Every recommendation should be studied through technical or fundamental analysis.
Ignoring risk management: Do not risk more than a small percentage of capital on each trade.
Not documenting and evaluating: Recording trades helps in learning and developing the strategy.
Summary: Patience, discipline, and knowledge are the foundation of success in trading.