Start slowly: begin with a small capital, say US $50- $100.
Currency choice: choose a currency that is less volatile.
Leverage: it is recommended that this does not exceed x10.
Leverage limit: ensure never to exceed leverage by more than 50% of your capital (for example, with US $100 in your portfolio, your leverage should not exceed US $150 = US $15 x 10)
Avoid trading at the same price: never buy or sell any currency at the same price with all your margin.
Divided margin: divide your margin into 4 parts ($15/4 = $3.8), which means you will open long or short positions with $3.8 x 10 = $38 USDT.
DCA Strategy: if you opened a long position and the currency fell between 5% and 10%, buy again with $3.8 x 10 (this is called Dollar Cost Averaging or DCA), so your entry point is now lower. The same applies to short positions if the currency rises between 5% and 10%. Your position will now be USDT $76 and you will have USDT $100 as balance.
If the currency exceeds its breakeven point with profits, close it. If it falls back between 5% and 10% or more, DCA again. (Never DCA for drops of 1-2%).
Regarding charts: choose a duration like 1 hour, 4H, 1D). Analyze the chart to see how the currency is behaving.
RSI Indicator: as you are a beginner, use the RSI indicator for durations (1H, 4H, 1D, etc.). If the RSI score is below 30, it is oversold and may rise a bit, which is safe in the long term. If the RSI score is above 80, there is overbought, so it is safe to short.
Stop-Loss: never trade without a SL; It is a lifesaver during accidents.
Patience is key. Stay updated on the market. Enter and exit trades on time and never trade like a consecutive player. Once you make a profit, relax and wait for the next safe entry. If you suffer a loss, relax and don’t rush to recover; you could end up losing.
