1. Proper risk management: Use stop-loss orders to limit potential losses and set realistic profit targets to lock in gains.
2. Diversification: Spread your investments across different assets to reduce the impact of potential losses on any single trade.
3. Stay informed: Keep up-to-date with market trends, news, and developments in the crypto space to make informed trading decisions.
4. Avoid over-leveraging: Only use leverage that you can afford to lose and do not overextend yourself with high leverage ratios.
5. Stay disciplined: Stick to your trading plan and avoid making impulsive decisions based on emotions or market volatility.
6. Monitor your positions: Regularly review your trades and adjust your strategy as needed to adapt to changing market conditions.
7. Seek professional advice: If you are unsure about your trading strategy or risk management techniques, consider seeking advice from a financial advisor or professional trader or at least a more experienced friend.
Do your due diligence and focus on getting better always.
