After nearly 5 years of trading, here are 5 things I've learned to avoid getting burnt on Binance

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When I first started trading on Binance, I also experienced a few times of completely losing my account. Back then, I thought trading was easy, but a few all-in moves led to total loss. After a considerable amount of 'tuition,' I've gathered these 5 points to share with newcomers to help them avoid the same mistakes:

1. Capital management is crucial

In the beginning, I often put almost all my capital into one trade, losing a few times made my account shrink. Later I understood that I should only risk 1-2% per trade. For example, if I have 1000 USDT, then if I make a mistake in a trade, I would only lose 10-20 USDT, still have money to recover.

2. Just use low leverage

I used to be tempted by x20, x50... it looks like a lot of profit but actually just a small market movement against you leads to liquidation immediately. Now I only use x2, x3 for safety, less profit but longer survival.

3. Stop loss is your best friend

There was a time I was so sure my analysis was correct, I didn't bother to set a stop loss, who knew the market would turn around in an instant... losing everything. Since then, I always set a stop loss before entering a trade. Better to lose small than to lose it all.

4. Keep a cool head

Losses easily make you want to recover, winning a few trades makes you greedy to jump in more. Many times FOMOing based on news has made me lose more than gain. Now I try to stick to my plan, if I feel my mindset is unstable, I turn off the app and go outside to clear my head.

5. Learn before you trade big

Honestly, when I first started, I treated trading like gambling. Later I understood that to survive, I had to learn analysis, read charts, manage risks... Now I trade with a small capital first, learning and testing strategies, gaining experience before daring to trade big.

In general, burning accounts is not due to the market but due to oneself. If you have discipline and manage capital tightly, then surviving long-term is entirely possible. I've paid tuition already, so anyone new, remember to learn from experience, don't repeat the same mistakes.

Wish you effective trading!
#wirte2Earn