🚨💥Do not make these 5 big mistakes when starting Trading! 🚨
New crypto traders! Before making money in the market, learn how to avoid getting burned. These are the mistakes that every beginner makes:
❌ Trading due to FOMO (Fear Of Missing Out): Getting tempted to trade after watching a video of a coin skyrocketing. Generally, you buy after it peaks and then get stuck when it falls.
❌ Not using Stop Loss: When the market is going up, you feel like there's no need for a stop loss. But when the market takes a turn, a small mistake without a stop loss can lead to a big loss.
❌ Putting your entire investment in one trade: Getting caught up in the thought of "This time it will definitely be profitable" and risking your entire balance in one trade. If the trade doesn't go as planned, you are left completely stranded.
❌ Trading based on emotions: Making decisions out of anger, greed, or fear by watching market movements. Every decision made in emotion leads to loss.
❌ Falling for "Get Rich Quick" schemes: Offers that promise a 100% return or entice you to invest in some shady project. 99% of these are scams.
✅ What should you do?
1. Learn first, then trade.
2. Always set a stop loss.
3. Diversify your portfolio (invest in different coins).
4. Create a trading plan and stick to it.
⚠️ Remember: Trading is high-risk. Do your due diligence (DYOR - Do Your Own Research) and only invest money that you can afford to lose.
Do you want to start trading?
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