#CEXvsDEX101 #TradeLessons

Here are ten mistakes in cryptocurrency trading that could drain your profits:

1. *Overusing leverage*: High leverage can lead to liquidating trades; stick to 2x-5x multiples and use effective stop-loss orders.

2. *Emotional trading*: Avoid trading out of fear or greed; instead, follow a solid plan.

3. *Ignoring security*: Protect yourself from scams and phishing by using hardware wallets and two-factor authentication.

4. *Neglecting research*: Study the economics of tokens, project use cases, and team credibility before investing.

5. *Chasing losses*: Avoid overtrading or doubling down to recover losses; take breaks and regain your clarity.

6. *Lack of strategy*: Trade according to a plan, using technical setups like breakouts or swing trades.

7. *Fear of missing out*: Wait for pullbacks.