Start slowly: Start with a small capital, say US$ 100.
Coin choice: Choose a coin that is less volatile.
Leverage: Use leverage no higher than x10.
Leverage limit: Ensure you never exceed leverage by more than 50% of your capital (for example, with US$ 100 in your portfolio, your leverage should not exceed US$ 150 = US$ 15 x 10).
Avoid trading at the same price: Never buy or sell any coin at the same price with all your margin.
Divided margin: Divide your margin into 4 parts ($15/4 = $3.8), which means you will open long or short positions with $3.8 x 10 = $38 USDT.
DCA Strategy: If you opened a long position and the coin dropped between 5% and 10%, buy again with $3.8 x 10 (this is called Dollar Cost Averaging or DCA), so your entry point is now lower. The same applies to short positions if the coin rises between 5% and 10%. Your position will now be USDT$ 76 and you will have USDT$ 100 as balance.
If the coin exceeds its break-even point with profits, close it. If it falls back between 5% and 10% or more, DCA again. (Never DCA for drops of 1-2%).
Charts: Choose a duration like 1 hour, 4H, 1D). Analyze the chart to see how the coin is performing.
RSI Indicator: As you are a beginner, use the RSI indicator for durations (1H, 4H, 1D, etc.). If the RSI score is below 20, it is oversold and may rise a bit, which is safe in the long run. If the RSI score is above 90, there is overbuying, so it is safe to go short.
Stop-Loss: Never trade without SL; it is a lifesaver during accidents.
"Patience is key."
Stay updated on the market. Enter and exit trades on time and never trade as a consecutive player. Once you make a profit, relax and wait for the next safe entry. If you suffer a loss, relax and do not rush to recover; you could end up losing more.
#BecomeCreator $BTC #Write2Earn!
