#TradingMistakes101

Key Takeaways from My Recent Futures Trading Experience

Avoid Highly Volatile Tokens

Trading in extremely volatile cryptocurrencies increases your risk of liquidation. Stick with more stable, well-established coins.

Use Low Leverage

Always opt for the lowest leverage possible. High leverage amplifies losses and can wipe out your capital quickly.

Don’t Panic

Be patient. Avoid closing your trade in panic. Only exit when you’re certain the market has moved beyond recovery.

Inject Capital Instead of Closing

If your trade is at risk but you believe the market will recover, and if you have extra funds available, consider injecting more money rather than closing the position prematurely.

Stay Calm Under Pressure

In one of my recent trades, I bought BTC at $106,000. The price dropped to $103,000, but I held my position. Within a week, BTC rose to over $107,500. Despite a small gain of $2.50, the experience taught me the value of patience and confidence in my strategy.

Conclusion

While the profit may seem small, consistency is key. If I follow this strategy for two months, I believe I could make around $500 to $600, which is a solid start for a beginner in futures.