Before taking a crypto trade, let's have a look on following factors.
1:Research
understand the fundamentals of the crypto project you are interested in, such as it's technology, uses and community support.
2:Market analysis
analyze the overall market trends, such as historical price data, trading volume, market capitalization, and market sentiment.
3:Risk assessment
it is very important factor to be kept in mind that how much capital you are willing to risk on a trade. it can be controlled by using stoploss techniques.
4: Technical Analysis
use technical analysis tools to identify entry and exit points on the specific crypto project.
5:liquidity
ensure that the project you are trading on has sufficient liquity on the exchange for the execution of your orders.
6: Emotional control
keep emotion like fear and greed in check and make impulsive decision based on market fluctuation.
that's all for today.
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