1.#Learnbefore you start
Enter the market prepared, not adventurous! Invest your time reading articles and following tutorials to understand the basics of trading and cryptocurrencies. Knowledge is power.
2. Define your#goalsclearly.
Before you hit the buy button, ask yourself: Are you looking for quick gains or a long-term investment? Having a clear goal will help you choose the right strategy.
3.#Startsmall
In the beginning, trade with small amounts that you can afford to lose. The market is volatile, and you need time to gain experience.
4. Don't risk more than you can handle.
Golden rule: Don't use money you need to cover basic expenses like rent or bills. Trade with money that is intended for investment only.
5.#Riskmanagement is an indispensable art.
Always use Stop Loss orders to protect your capital. Don't neglect this procedure no matter what your position in the market is.
6. Be#patientand don't chase the market.
Don't trade based on emotions or FOMO. Opportunities abound, and the market is always open!
7. Learn to read #charts.
Technical analysis is your weapon. Learn to read Japanese candlesticks, support and resistance lines, and technical indicators to better anticipate market movement.
8. Follow the#newswith caution.
News can move the market, but not all news deserves an immediate reaction. Check the source of the news and think carefully before making any decision.
9. Diversify your investment portfolio.
Don't put all your money in one currency. Diversifying your investments reduces risk and increases your chances of making a profit.
10. Treat#lossesas lessons.
Losses are a natural part of trading. Instead of getting discouraged, use each mistake to develop your strategy and improve your skills.
