Lesson#2
Avoid Leverage Trading :
Many of the new traders start their trading journey with leverage trading, and almost 99 percent of them lose all their money within the first 6 months. Leverage trading is absolutely risky, and it is not suggested for newcomers. Never enter the market directly into leverage trading. For the first couple of years, just focus on spot trading. Then, once you become familiar with the market dynamics, only then enter the futures market, but never put more than 20 percent of your portfolio in futures trading. Your 80 percent must be in spot trading.
I know with little investment, you might think that spot trading may not generate you enough profit, but that's absolutely not true in crypto. We have seen so many coins going 10x, 15x in crypto. If you have only $100, you can easily convert them to four digits if, after due diligence, you find some gem altcoins.
So, the lesson learned is to only invest 20 percent of your portfolio into futures trading; the rest must be in spot trading. And this twenty percent must come after two years of working with spot accounts. Never go directly to futures on day one of your trading journey.