Four Common Fatal Mistakes in Cryptocurrency Trading:
1. Overtrading: Newbies are prone to frequent operations after entering the market during a bull run, and without a stop-loss awareness, they may incur significant losses and be eliminated; experienced traders who overtrade on short-term positions may also fail to see the market direction and get eliminated.
2. Using pressured funds: It is inadvisable to use borrowed money, loans, or mortgage your house to invest in cryptocurrencies, as this can lead to a frantic mindset and make it difficult to view future market trends calmly.
3. Not leaving the ability to trade again: Market risks are unpredictable, so you need to leave yourself the ability to make a comeback; otherwise, it is very sad to understand the market but not have the funds to act. In short, trading cryptocurrencies is not only a technical battle but also a war of capital management, trading systems, and overcoming human weaknesses. Don't risk your life savings in investments.
4. No stop-loss orders: When trading cryptocurrencies, you must learn to recognize market conditions, and setting stop-loss orders is crucial for protecting your funds. Trading without stop-loss orders is like driving a car without brakes; the risks are unpredictable.
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