🔟 Things Traders Should Avoid to Prevent Crypto Losses

Avoid Using Unsecured Exchanges or Wallets

Only use reputable and regulated exchanges and wallets.

Avoid platforms without 2FA (two-factor authentication) or strong security protocols.

Avoid Ignoring Risk Management

Never go all-in on a single trade or coin.

Always use stop-loss orders and proper position sizing (e.g., risking no more than 1-2% of your capital per trade).

Avoid Trading Without a Plan

Don’t trade on impulse or emotion.

Always have a clear strategy and stick to it (entry, exit, risk/reward).

Avoid Falling for Hype and FOMO

Don’t buy into a token just because it’s trending or someone on social media says it’s going to the moon.

Do your own research (DYOR).

Avoid Leaving Funds on Exchanges Long-Term

Exchanges can be hacked. Use cold wallets (hardware wallets) for long-term storage.

"Not your keys, not your coins."

Avoid Over-Leveraging

High leverage can lead to liquidation quickly in volatile markets.

Use low or no leverage unless you’re an experienced trader.

Avoid Ignoring Security Practices

Don’t use weak passwords or share your private keys.

Avoid phishing links, double-check URLs, and never click on suspicious emails or messages.

Avoid Pump-and-Dump Schemes

Be wary of low-cap coins with sudden spikes and shill groups.

These are often market manipulation tactics that leave retail investors with losses.

Avoid Ignoring Tax and Regulatory Issues

Understand how crypto is taxed in your country.

Not planning for taxes can lead to penalties or surprise costs later.

Avoid Chasing Losses or Revenge Trading

Don’t try to “win it all back” after a bad trade. That leads to bigger losses.

Take a break and review your strategy if emotions take over.

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