Read these risk management tips to increase your trading success
1. Follow the 2% rule: invest only 2% of your total investment on a single coin.
2. Apply Volatility Based Stop Loss: Adjust your stop loss level to match the current market volatility for better risk management.
3. Enter and exit your positions slowly to minimize losses and maximize your potential gains.
4. Set the price amount: Then notify stop loss at the key levels of the set amount which will allow you to take immediate profit when the market opportunity arises.
5. In order to accurately estimate your potential profit, include these factors in your backtesting, i.e. do paper work regularly for at least 30 minutes a day. Prepare well in the beginning, then when you have money, start with an investment of more than 50$, God willing, very soon you will be converting your 50$ into 100$ and a hundred into 500$.
