Buy low, sell high.
This is probably the most popular rule when making transactions on the exchange. The rule is easier to follow than it seems, but it is important to remember the volatility conditions, and therefore to be cautious about the price and volume of the traded asset at any given time. Volatile assets have more significant price swings and combined with volumes can lead to paying more than you expected.
There are several most common mistakes that lead to buying at a high price:
"Fat-fingering" is a common term used to describe making a human mistake by accident, usually pressing a wrong button, entering a wrong number etc. In trading fat-fingering can cause significant price movements and loss.
Market buying a solid order.
If you are planning to make a Market order, check the trading volume and prices for each amount of an asset available in the order book. It is important to understand that size of your order may be executed in one market buy completely by collecting all available offers from sellers (which means your order will be executed immediately regardless of price). If the volume of your trade is large, you run the risk of closing the trade at a price higher than the market price or higher than the last completed trade on the exchange.
The solution is simply being mindful when placing an order: split your order into several parts to make sure you are purchasing a certain amount of an asset at the price you need, or use a Limit order.
If you place a Market order on NBX, our trading interface will trigger a warning in case a trade at a high price may potentially happen, as shown below.