Learn Risk Management Before Leverage Trading !
Otherwise your life will destroy !
Here are some precautionary tips for newbies in crypto futures trading!
1. Start Small
Begin with a small investment. Futures trading is risky, and it's easy to lose more than you invest.
2. Use Stop-Loss Orders
Always set stop-loss orders to limit your potential losses and protect your capital.
3. Avoid High Leverage
Don't get tempted by high leverage. It can amplify profits but also magnifies losses.
4. Educate Yourself
Understand how futures contracts, funding rates, and liquidations work before trading.
5. Manage Emotions
Stay calm and disciplined. Avoid revenge trading or letting FOMO (Fear of Missing Out) drive your decisions.
6. Never Trade with Borrowed Money
Only trade with money you can afford to lose. Never risk essential savings or take loans.
7. Keep Learning
Crypto markets are volatile and ever-changing. Keep updating your skills and knowledge.