Trading is like a roller coaster: exciting but also risky. To make money in the long run, the key is to control your losses. Here are five super practical tips to help you protect your wallet:
Use the 'stop-loss tool'
Set a stop-loss point; when the price reaches this level, the trade will automatically stop. This way, even if you get caught up in emotions or the market suddenly turns volatile, you won't lose too much.
Don't bet your entire fortune
For each trade, only risk 1% to 2% of your total assets. This way, even if you experience a few losses in a row, you still have capital to continue fighting.
Don't act on impulse
Trading requires patience; don’t jump in just because you see an opportunity. Observe market trends, stick to your plan, and wait for the best moment to act.
Don't put all your eggs in one basket
Don’t invest all your money in one place. Diversify into several markets; if one fails, you have others to recover your losses.
Learn from your mistakes and become braver with experience
Don't be afraid of losing in trading; the key is to identify the problems, learn from the lessons, and then improve your strategy. This way, you will become more and more skilled.
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