#TradingMistakes101

Binance's #TradingMistakes101 emphasizes critical errors to avoid for successful crypto trading. A core message is trading without a plan. Impulse buying or selling based on FOMO (Fear Of Missing Out) or FUD (Fear, Uncertainty, Doubt) often leads to losses. Instead, define clear entry/exit points, profit targets, and risk tolerance before entering a trade.

Another common pitfall is ignoring risk management. This includes over-leveraging, which amplifies both gains and losses, and failing to set stop-loss orders. A stop-loss is crucial to limit potential downsides. Lastly, emotional trading and overtrading are detrimental. Discipline and patience outweigh quantity; focus on quality setups and learn from mistakes through a trading journal.