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Want to grow as a crypto trader and avoid silly mistakes? Follow these basic but powerful rules. Whether you're just starting or already experienced, these tips will keep you safe and smart.
1. Follow the Market Trend
Before you trade, check if the market is going up or down.
๐ If itโs going up (bullish), focus on buying.
๐ If itโs going down (bearish), look for selling opportunities.
Trading against the trend = more losses. Trading with it = better chances to win.
2. Always Use a Stop Loss
Never trade without a stop loss.
It protects your money if the trade goes wrong.
Only risk 1โ2% of your total money per trade to stay safe.
3. Donโt Trade All the Time
You donโt need to trade every move.
Wait for strong and clear setups.
One good trade is better than ten random ones.
4. Donโt Let Emotions Control You
Fear and greed can mess up your trades.
Stick to your plan โ not your feelings.
Stay calm. Calm traders make better decisions.
5. Learn First, Then Trade
Donโt jump into new strategies without testing them.
Try them on demo or check how they performed in the past (backtesting).
Never risk real money on something you donโt fully understand.
6. Keep a Trading Diary
Write down every trade โ your entry, exit, reason, and result.
Review it every week. It helps you learn faster and improve over time.
7. Only Use Extra Money
Donโt trade with money you need for rent or bills.
Trade only with money you can afford to lose.
This keeps you stress-free and focused.
8. Donโt Copy Without Understanding
Itโs okay to learn from others โ but donโt copy trades blindly.
Understand why the trade is good before you follow.
No one is right 100% of the time.
9. Watch the News
Crypto prices move quickly during big news events.
Always check market news before trading especially around major updates or announcements.