【#Common Trading Mistakes】Three Minutes of Impulse, Three Months of Regret──The Five Major Lessons I Learned
When I first entered the crypto world, driven by a wave of "bull market FOMO" emotions, I made five classic mistakes, resulting in losing 50% of my principal to the market. Looking back now, each pitfall is worth sharing with friends who are just starting out👇
1️⃣ Buying High and Selling Low
Seeing three consecutive large bullish candlesticks, I used a market order to go all in, only to buy at a high; when it reversed, I panicked and sold at the bottom.
Lesson: Set buy and sell points before entering, do not chase prices or blindly stop-loss.
2️⃣ Full Position on One Side
Thinking ETH is invincible, I allocated 100% of my funds into a heavy position, only to have my account liquidated instantly when a black swan event occurred.
Lesson: Diversify any asset, set leverage limits and position ratios.
3️⃣ Ignoring Transaction Fees
Small coins have large fluctuations; frequently entering and exiting trades but forgetting about Maker/Taker + Gas fees, I eventually realized my profits were less than my costs.
Lesson: Confirm rates, make good use of BNB discounts, and withdraw on low-fee chains.
4️⃣ Not Setting Stop-Losses
Holding onto hope, thinking "if it drops further, it will bounce back," I found myself in a free fall.
Lesson: Write a plan for take-profit and stop-loss at the time of entry, and let the system execute it for you.
5️⃣ Trusting Rumors
When a Telegram group shouts "xx coin is about to list," I weak-mindedly followed the trend, only to find out it was fake news.
Lesson: Trust only white papers, official announcements, and your own research.
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🎯 How do I improve trading discipline?
• Review erroneous trades weekly, write a "trading journal" to identify mistake patterns
• Practice strategies with small capital, backtesting for ≥ 3 months before scaling up
• Prioritize risk management over profit targets, it’s better to earn less than to incur significant losses
💬 What was your most painful mistake? Share in the comments and help newcomers avoid pitfalls!
