This is a fatal mistake that many traders still struggle with. I myself, when I first stepped into the Trader Coin market, also paid a steep 'tuition' for it. But sometimes, you have to hurt once to be awake enough to remember for a lifetime.

Many new traders get caught up in price fluctuations and forget that trading is not a game of chance.

For example, seeing BTC rise sharply, with continuous green candles, FOMO kicks in, and you immediately open a buy order with all your capital. But you haven't determined where to take profits, nor have you set a stop loss. Just a few hours later, the price reverses due to bad news or profit-taking by whales, and the account loses 15% immediately.

Trading without a plan is like setting sail without a map or compass — you can drift for hours in the blue sea, but when the storm comes, you'll be swept away uncontrollably.

For those who are not professionals, please note:

Before entering a trade, always determine 3 factors: Entry, Take Profit, and Stop Loss.

Carefully consider the Risk/Reward ratio; only enter a trade if the risk is less than the potential profit.

Write your plan down on paper or note it before placing an order, so when the market fluctuates, you don't get swept away by emotions.

If you don't have all 3 factors above → Absolutely do not enter a trade.

Is there anyone who has been like me, or even right now is still making those 'silly' mistakes? Follow me to dissect, analyze, and resolve each mistake that new traders often stumble upon when stepping into the Crypto market.
$BTC