1. Never invest more than you can afford to lose
Cryptocurrencies are very volatile. Only use funds that will not affect your finances in case of loss. This is the most important rule for beginners.
2. Set clear entry and exit points
Pre-decide the price at which you will buy and sell. Avoid emotional decisions during sudden market fluctuations.
3. Use stop loss orders
A stop loss automatically sells your position if the price falls to a certain level. This protects your capital and avoids emotional losses.
4. Diversify your portfolio
Do not invest all your money in a single currency. Spread your investment across multiple assets to reduce risk.
5. Maintain a risk-reward ratio
Look for trades where the potential profit is at least 2 or 3 times greater than the potential loss. This ensures long-term profitability.
6. Avoid excessive leverage
Leveraged trading multiplies both gains and losses. Beginners should start with spot trading before moving to margin trading.
7. Stay informed
Stay updated on market news, token updates, and regulatory changes. Knowledge reduces unexpected risks.
8. Have a trading plan
Decide your goals, strategy, and limits before trading. Stick to the plan.
and avoid emotional decisions.
#WalletConnect @WalletConnect $WCT
#Chainbase @Chainbase Official $C
