Good evening to you all, my dear friends. Please adhere to the guidelines and avoid some mistakes in trading. Professional advice:
Before executing any trade, answer the following questions:
At what price will I enter?
Where will the stop-loss be?
What is the profit target?
How much risk am I taking versus how much can I earn (risk-to-reward ratio)?
๐ Stick to the plan โ do not trade based on your emotions.
2. โ Never risk more than you can afford to lose.
Over-leveraging or excessive investing is the fastest way to lose capital.
๐น Why is this dangerous:
Cryptocurrencies are inherently volatile. In the volatile world of cryptocurrencies, success often depends not on executing the perfect trade but on avoiding catastrophic mistakes.
One mistake could wipe out months or even years of trading profits.
That is why every serious trader should live by one rule: never do this.
Hereโs what you should never do if you want to survive and succeed in the cryptocurrency market:
1. โ Never trade without a plan.
Entering trades without a clear plan is considered gambling, not trading.