Crypto trading can be highly profitable, but it also comes with significant risks. To succeed, avoid these common mistakes that can wipe out your gains:

1. Over-leveraging ⚖️ – Using excessive leverage increases potential returns but also magnifies losses. A single bad trade can lead to liquidation.

2. Emotional trading 🧠 – Fear of missing out (FOMO), panic selling, and revenge trading often lead to poor decisions. Successful traders control their emotions and stick to their plans.

3. Ignoring security 🔐 – Failing to secure assets leaves traders vulnerable to hacks, scams, and exchange failures. Using strong passwords, two-factor authentication, and cold wallets is essential.

4. Skipping research 📚 – Investing in a coin without understanding its fundamentals is a recipe for disaster. Conduct thorough research before making any trades.

5. Chasing losses ⚠️ – Trying to recover lost funds with impulsive trades often leads to further losses. Maintaining discipline and following a strategy is key.

6. Trading without a strategy 📈 – Entering the market without a clear plan turns trading into gambling. A solid strategy improves long-term success.

7. FOMO buying ⏳ – Jumping into a coin after it has already pumped often results in losses when the price corrects. Buying early based on research is far more effective.