1. Over-Leveraging
Using high leverage (20x-50x) can lead to significant losses. Keep it safe with 2x-5x leverage and set a stop-loss.
2. Emotional Trading
FOMO and panic selling can harm your trades. Stick to your strategy and trade with logic, not emotions.
3. Neglecting Security
Clicking the wrong link can cost you everything. Protect your assets with 2FA, cold wallets, and caution.
4. Zero Research
Following hype without research can lead to losses. Study tokenomics, use cases, and the team before investing.
5. Revenge Trading
Chasing losses can lead to more losses. Take a step back, review your plan, and trade with a clear mind.
6. No Game Plan
Random trades can be reckless. Choose a strategy and stick to it. Don’t chase the market.
7. FOMO Entries
Entering trades late can result in losses. Practice patience and wait for the right entry points.
By avoiding these common mistakes, you can improve your trading skills and make more informed decisions. Stay informed, and trade like a pro!
