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The biggest mistake for newcomers entering this market is thinking about getting rich quickly. But the reality is, most people fail here not because of a lack of insight, but because they fail to stick to their bottom line.
The market will never go easy on you just because you're a beginner. Making one big mistake could wipe out your account entirely. So we need to change our mindset—it's not about making money right away, but about learning not to lose money first.
Start by reducing your trading frequency. The more you trade, the more chances you have to make mistakes. Often, when the market is unclear, the smartest choice is to stay on the sidelines and observe. But most people can't do that; they always want to follow the market’s rhythm, ending up in a downward spiral of losses.
Before placing an order, always ask yourself: what's the maximum I can lose on this trade? Stop-loss isn't about giving up; it's about keeping your risk within your manageable range. Trading without a stop-loss is essentially gambling on luck, and luck is unreliable.
There's also a detail that's easy to overlook—don't fully load your position. Always leave some bullets in the chamber. If you push all in at once and the market suddenly moves against you, you'll become a lamb waiting to be slaughtered. Trading with a small position may earn less, but it keeps your mindset stable and allows you to react better to volatility.
Choose opportunities you truly understand. Following the crowd just because others are making money on a certain coin is a common rookie mistake. There are opportunities every day in the crypto market; missing a few isn't a big deal. If you don't understand the volatility, just watch the show and don't force a trade.
And the most difficult part—control your emotions. After losing several trades in a row, it's easy to get the idea of "winning it all back next time," but that often leads to even bigger mistakes. Sometimes, stopping and taking a break is a hundred times wiser than continuing to trade.
Those who survive long in this market are not the smartest or most technically skilled, but the most steady and risk-aware. Now is the time to adjust your pace and move forward steadily.