1. Stay Updated on Market News: Keep an eye on global financial events and crypto news. Sudden changes in regulation or market sentiment can create profitable opportunities or mitigate losses.
2. Master Technical Analysis: Use tools like moving averages, RSI, and Fibonacci retracements to identify trends and predict price movements with greater accuracy.
3. Risk Management: Set stop-losses and take-profit levels for every trade. Always risk only a small percentage of your portfolio on any single trade to protect your capital.
4. Diversify Trades: Don’t put all your funds into one coin. Diversifying your trades across different assets can reduce risk and increase opportunities.
5. Follow Market Sentiment: Use on-chain data and social sentiment analysis to gauge investor mood. Market sentiment often drives price action, so being aware gives you an edge.
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