In just the last 100 minutes, the cryptocurrency market experienced a staggering $275 million in liquidations. This happens because many traders lack the necessary skills and knowledge, often relying on social media influencers for trading advice. These influencers might showcase impressive profits, but what they don’t show is the well-defined strategy and discipline behind those results. Most new traders, however, jump into the market blindly, chasing quick profits without a clear plan, which leads to costly mistakes and, ultimately, liquidations.

How to Protect Yourself from Liquidations:

1. Secure Profits Gradually: Once your first profit target is reached, lock in some gains. Holding out for every target can be risky. Taking partial profits helps protect what you've earned, while allowing you to remain in the game.

2. Effective Risk Management: Avoid over-leveraging. For example, if your portfolio is $200, don’t risk more than 5-10% on a single trade. With only a couple of active trades, you can steadily grow your account without putting yourself in jeopardy.

3. Focus on Patience and Consistency: Trading isn’t a quick-win game. It's about making informed, calculated decisions. Small but consistent profits are far better than chasing high-risk, high-reward trades that could result in huge losses.

The Importance of Patience:

Trading requires patience. Just like you wait for a paycheck at your job, you need to apply the same patience to trading. If you gamble away your capital today, you won’t have anything left to trade tomorrow. Protecting your funds is the first step in ensuring long-term survival in the market.

Stop-Loss: Your Trading Lifeline

One of the biggest mistakes traders make is holding onto losing positions, hoping they’ll bounce back, while quickly closing profitable trades out of fear. This can lead to massive losses. Instead, use stop-losses to minimize potential losses. If your trade goes against you, accept a small loss and move on—it's better than letting it destroy your account.

Final Takeaway:

Trading isn’t about luck—it’s about making smart, disciplined decisions. If you’re not prepared to commit to proper risk management and patience, trading may not be for you. Educate yourself, manage your trades carefully, and protect your capital. Safeguarding your funds today ensures you’ll have the opportunity to trade tomorrow. Stay safe and trade smart

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