Understanding why many traders face liquidation and often quit within days is crucial. Common pitfalls stem from fundamental errors in approach. 🚨

A primary mistake is blindly following signals without independent research, analysis, or a clear trading plan. Relying on hype pages leads to unsustainable positions. 📉

For instance, when $BTC neared 89,000, many anticipated a strong pump. However, PandaTraders forecasted $BTC would rally to 90,300 before correcting from that specific zone. 🎯

True to the forecast, $BTC dumped from 90,300, falling below 88,000. This resulted in the liquidation of long positions totaling 55 million dollars, impacting those who relied on hype signals. 💥🩸

Another significant error is failing to manage profit-taking and exits. Entering trades late, holding positions greedily, or failing to protect trades leads to substantial losses. ⚠️

A major trap comes from influencers promoting lifestyle over trading skills. They showcase luxury without revealing strategies, fostering unrealistic expectations of overnight wealth. 🚗🏝️

Realistically, becoming a crypto millionaire without prior experience usually requires substantial initial capital. Otherwise, acquiring numerous "signals" often leads to losses. 📉💸

The core principle: **learn before you earn.** 🧠➡️💰

For robust trading insights, explore PandaTraders. 🐼🔥

Stay informed by attending upcoming live sessions on Binance and YouTube for valuable market perspectives. 💡

(BTCUSDT)