What Not to Do in Crypto
Everyone stumbles at the start, but the fastest learners tend to last the longest. Here are some of the most common mistakes that trip up new (and even experienced) crypto traders—and how to avoid them:
1. Buying into Hype
Jumping into a trade because it’s trending or being hyped on social media often means you’re buying the top. Wait for clear signals and confirmation before entering.
2. Panic Selling During Dips
Selling out of fear when the market dips usually locks in unnecessary losses. Remember, crypto is volatile by nature. Take a step back and look at the bigger picture.
3. Trading Without a Stop-Loss
Skipping a stop-loss is one of the riskiest things you can do. It leaves your account exposed. Protect your capital—always have an exit plan if things go wrong.
4. Using Too Much Leverage
Leverage can boost gains—but it can also wipe out your account in seconds. Keep it reasonable. If you’re not confident without leverage, you’re not ready to use it.
5. Ignoring the Trend
Trying to trade against the dominant trend is often a losing battle. Respect the momentum and align your trades with it.
6. Blindly Copying Other Traders
Just because someone shares their profits online doesn’t mean their strategy works for you. Do your own research and make sure any trade fits your risk tolerance and plan.
Final Thought:
Mistakes are normal in trading. What matters most is learning from them and adjusting. Stay disciplined, stay patient, and never stop improving.