#TradingMistakes101
1. Not Enabling Full Security Features
Mistake: Using Binance without enabling 2FA (Two-Factor Authentication) or anti-phishing code.
Why it’s risky: Your account becomes vulnerable to hacks or phishing attacks.
How to avoid:
Enable Google Authenticator (2FA).
Set an anti-phishing code to identify official Binance emails.
Use withdrawal whitelist to restrict where funds can be sent.
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2. Using Cross Margin Without Understanding
Mistake: Trading on Cross Margin without fully understanding how margin and liquidation work.
Why it’s risky: If one position drops, your entire margin balance can be wiped out.
How to avoid:
Use Isolated Margin if you’re a beginner.
Learn how margin, liquidation price, and funding fees work before using leverage.
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3. Buying Unknown Tokens Without Checking Details
Mistake: Buying random tokens listed under "New Listings" or via launchpads without checking token details or project fundamentals.
Why it’s risky: Many new tokens are volatile, can crash quickly, or may be rug-pulls.
How to avoid:
Review the project’s whitepaper, use case, and team.
Avoid blindly following hype or trading immediately after listing.
Use tools like Binance Research and CoinMarketCap for due diligence.