Top 🔝 10 mistake in binance
10 golden rules of crypto trading
1. Set a stop loss ✋
Never trade without a stop loss, otherwise one mistake can ruin your entire account.
2. Manage risk
Risk no more than 1-2% per trade. Never put your entire investment in a single coin.
3. Avoid Greed
Small but consistent profits are better than big losses. Remember the rule “even a small profit is a profit”.
4. Don’t trade emotionally
Making decisions out of fear or greed can lead to losses. Always make a plan first and then execute it.
5. Go with the trend (Trend is your friend)
Always trade according to the market trend (Bullish or Bearish), going against the trend is more dangerous.
6. Diversify your portfolio
Don’t rely on a single coin or project, invest in different coins and sectors.
7. Use leverage carefully
Higher leverage means higher risk. New traders should especially avoid high leverage.
8. Use both technical and fundamental analysis (TA & FA)
Avoid just looking at charts or just believing the news. Use a combination of both to make your decision.
9. Keep a trading journal
Write a record of each of your trades (entry, exit, reason, loss or profit), this gives you the opportunity to learn from your mistakes.
10. Be patient and disciplined
Crypto is not a get rich quick tool, it is a long game. Patience and consistency are the keys to success
