As a newcomer to Binance, eager to profit quickly? Proceed with caution! 🔥🔥🔥

Click the avatar to go live, don't miss out on the bull market.

A careless move could lead to losses far exceeding expectations. Here are the five major serious mistakes common among new traders, and why you must avoid them at all costs.

Blindly following the "moonshot coins"—You are not a genius, but a gambler.

Impulsively buying highly promoted tokens without research is akin to gambling, not a wise trading move. Most "moonshot coins" will eventually fall, leaving you with nothing. Do not be misled by the fog of hype!

Underestimating risk management—You are not invincible.

Taking risks with capital you cannot afford to lose is a common mistake among beginners. Without proper risk management strategies, it is like digging your own grave. Be sure to set stop-loss orders!

Frequent trading—Less is more.

Buying and selling frequently based on short-term price fluctuations is a quick way to bleed money. Successful traders focus on strategy, not blind action.

Misunderstanding the leverage effect—It can be a deadly trap.

Leverage can significantly amplify both gains and losses. Beginners should use leverage cautiously and only after fully understanding the risks involved.

Blindly following "experts"—They are not sages either.

Do not blindly follow internet celebrities or "cryptocurrency masters". Most are promoting tokens for personal gain. Be sure to conduct your own research.

To achieve success on Binance, stay away from the above pitfalls. Keep learning diligently, strictly adhere to discipline, and do not be blinded by hype.

Click the avatar to go live, don't miss out on the bull market.