In the world of crypto, volatility is the norm, not the exception. Prices can soar to the heavens or plummet into a pit literally within hours. To avoid being among the 95% (as CZ said) who lose money, you need to know how to manage risks.
1. Assess your capabilities
Don’t dive into the market with all your cash and don’t put everything on one card. Determine an amount that you wouldn’t mind losing, and don’t exceed that limit. Crypto is a marathon, not a sprint.
2. Diversification is your best friend
You don’t put all your eggs in one basket? Great! A variety of assets helps reduce overall risk. If one coin drops, others can hold your position.
3. Set stop-losses and monitor your position
Automatic stop-losses are your insurance against significant losses. Don’t be lazy to use them, especially if you can’t constantly monitor the market.
4. Control of emotions is the main skill
Panic and greed are the most common enemies of the investor. Before making a decision, stop and think. The market favors the patient and the cool-headed.
Result: Risk management is not a boring set of rules, but your shield and sword in the battle for profit. Learn to control yourself and your money, and the crypto will work for you, not the other way around.
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