1. โ Trading Without Learning the Basics
Donโt jump in without understanding terms like spot trading, limit orders, stop loss, etc.
2. ๐ฐ Investing All Your Money at Once
Never invest all your funds in one trade. Use small amounts and diversify.
3. ๐ Ignoring Risk Management
Always set a stop-loss to avoid heavy losses if the market moves against you.
4. ๐ Following Random Social Media Tips
Donโt blindly trust signals from Telegram, YouTube, or influencers. Always do your own research (DYOR).
5. ๐ Overtrading
Donโt trade too frequently just for excitement โ it leads to losses and high fees.
6. ๐ Not Enabling Security Features
Always enable 2FA (Two-Factor Authentication) to protect your account.
7. ๐ Trading Without a Plan
Avoid emotional trading. Make a plan: entry point, target profit, and stop loss.
8. ๐ช Buying Random Coins
Donโt buy unknown or low-volume coins just because they are cheap.
9. ๐ Timing the Market
Beginners often try to โbuy the dipโ or sell at the top โ nearly impossible. Focus on long-term learning, not perfect timing.
10. ๐ฑ Panic Selling or FOMO Buying
Avoid emotional decisions like panic selling during dips or buying due to Fear Of Missing Out (FOMO).
---