Here are a set of effective strategies that can help you trade more intelligently:
Capital Management: Don't invest your entire capital in one trade. Allocate a certain percentage for each transaction, for example, only 1-5%.
Stop Loss and Take Profit: Always set stop loss levels and profit limits in advance. This method protects you from sudden market fluctuations.
Avoid Trading Due to Emotion: Make your decisions based on analysis, not fear or greed.
Diversify Your Portfolio: Don't invest in just one currency. Spread your risks across several strong projects.
Use Both Technical and Fundamental Analysis: Understanding charts and analyzing market news gives you a broader perspective.
Trade During High Liquidity Times: Such as the opening of the European or American markets, where the movement is clearer.
Learn from Your Mistakes: Record every trade and review the reasons for profit or loss, and develop your strategy over time.
Stay Informed: Keep up with updates from reliable sources like Binance Academy or CoinMarketCap.
