Many beginner traders, and I’m one of them, make serious mistakes in trading. The biggest mistake we make is rushing and fear of missing opportunities.
For example, I had $55 and I was watching the $PLAY coin. It was above 0.115. I waited until it dropped to 0.079, then I hurried to buy without considering liquidity, or checking the correction stop level, or any indicators for an upward move. But the coin surprised me, and I rushed, buying more as it dropped to 0.071. I was happy and bought, thinking that I understood things and that everything was under control. The coin then rose a little, and then it fell sharply. I kept supporting until the amount was gone, and my liquidation level was 0.025. When the price got close to liquidation, I topped up with a small amount to push the liquidation price to 0.023.
I’m still at risk of liquidation—and all of this happened because of rushing.
So it’s important, my friends, to protect our capital first, even if an opportunity is missed—there are hundreds of opportunities. Also, we must set a stop-loss limit and not fight the market until we lose all our capital. We must also avoid greed and excessive leverage. Every coin is exposed to sudden collapse at any moment.
Stay safe, my friends. And if you have any comments or advice, write them in the comments—each of us needs guidance, and we all benefit from each other.
For example, I had $55 and I was watching the $PLAY coin. It was above 0.115. I waited until it dropped to 0.079, then I hurried to buy without considering liquidity, or checking the correction stop level, or any indicators for an upward move. But the coin surprised me, and I rushed, buying more as it dropped to 0.071. I was happy and bought, thinking that I understood things and that everything was under control. The coin then rose a little, and then it fell sharply. I kept supporting until the amount was gone, and my liquidation level was 0.025. When the price got close to liquidation, I topped up with a small amount to push the liquidation price to 0.023.
I’m still at risk of liquidation—and all of this happened because of rushing.
So it’s important, my friends, to protect our capital first, even if an opportunity is missed—there are hundreds of opportunities. Also, we must set a stop-loss limit and not fight the market until we lose all our capital. We must also avoid greed and excessive leverage. Every coin is exposed to sudden collapse at any moment.
Stay safe, my friends. And if you have any comments or advice, write them in the comments—each of us needs guidance, and we all benefit from each other.