Never Take Leverage: Laverage itself is neither good nor bad. Better never take laverage if you are new in crypto world. Laverage seems attractive as it increase your holding without having enough fund. Suppose, a person who invest $100 and take laverage of 10:1, he will receive $1,000 holding. Seems great but not at all. As you are aware of crypto market, it moves in both way. It is pleasant if you observe pump in rate but the other picuture may eat out all you investment. So, it is not advisable to use laverage trading.
Don't try to catch top or bottom. It is another common mistake which people do on regular basis. There is no bottom in crypto world. Dip in price doesn't mean that the price will not dip further. One bad news or too much token may badly hit the price of any coin. Similarly there is no gurantte to achieve all time high. It is only your predication which motivate you to do these things and prediction without knowledge may give you big loss.
Never fall in love with your coin: Many investors love their holdings. They are emotionally attached with these coins and never send their coins at profit or in loss. This is not a wise move at all. Keeping emotion aside is a best strategy.
Buy coins on narrative base instead of fundamental value. Another common mistake people do is to take decision based on narrative. Narrative may help to rise the value of coin but after some time it drop to its real value. Narrative may help you for short period of time, but it will never help you in long term investment. Fundamental investment is a long term strategy which is based on valuation of your coin, coins competitors in the market and revenue share. Beside this you should keep an eye on taking profit and booking loss by using stop loss.
Avoid locking your token to achieve high yield. Locking token is attractive as it give you opportunity to earn decent reward on your investment. Locking token attract many investors as a result of buying pressure coin increase its worth. People often buy at higher price and lock their asset. Price drop down with little or no use case of coin and price goes down further during unlocking period. Better never invest on locking token if you are new user. What is your opinion my friends?
This is it for my today post. Wish you all a very happy, healthy and prosperous life ahead. Have a nice time.