Here are crucial risk management strategies to optimize your cryptocurrency trading
1. Stay mindful of transaction fees across different exchanges, as they directly impact your profitability.
2. Select exchanges with competitive fee structures that align with your trading volume and frequency.
3. Factor in withdrawal fees when calculating your potential gains.
4. Utilize limit orders instead of market orders to avoid higher fees and ensure better control over your trades.
5. Consider the effects of network congestion on transaction costs, especially for cryptocurrencies prone to high fees.
6. Strategically plan your trades to minimize transaction frequency, thereby reducing cumulative fees and optimizing your overall trading strategy.