#TradingStrategyMistakes
On Binance, several trading strategy mistakes can derail your success. A common pitfall is trading without a plan. Many jump in based on hype or FOMO (Fear Of Missing Out), leading to impulsive decisions rather than calculated moves. Without clear entry/exit points and risk parameters, emotions often take over.
Another frequent error is ignoring risk management. Over-leveraging, not setting stop-loss orders, and risking too much capital on a single trade can quickly liquidate your portfolio, especially in volatile crypto markets.
Finally, overtrading and revenge trading are detrimental. Constantly buying/selling or trying to recoup losses by making irrational trades usually leads to further losses and burnout. Discipline, a well-defined strategy, and emotional control are crucial to avoid these pitfalls on Binance.