Tips for new traders starting in crypto
- Focus on one set of trades at a time.
- Start with small positions, and once you find that you are now a profitable trader, risk more.
- Avoid trading with hopes. Hopes do not work; you need proper analysis and confirmation before making a trade.
- Always use stop-loss. Never leave your position open with the hope that you will only close it if it goes in your favor.
- Find someone to teach you. Everyone needs someone to teach them, no matter what business/job they are in.
- Keep a record of your trades. Reassess your trades to discover what made you lose a trade and how you won one. Exclude the ones you lost and continue doing what you did with the winners.
Good luck 🙂