One of the biggest challenges in crypto trade is risk management. The market is moving fast, and without a clear plan, traders can lose money as soon as they do. To succeed, the control of the profits is more important than pursuing the benefit.
The first step is always to set the level of stop losses. For example, if you buy Bitcoin in $ 63,000, you can suddenly hold a stop loss of $ 61,500 to protect against drops. This prevents emotions from handling and ensuring that your loss is limited.
Another important strategy is status size. Never put all capital in a business. Instead, share your portfolio-a certain percentage for a certain percentage, some to atherium and a small part for high-risk Altcoin. This way, even if a business fails, your overall account is safe.
Businesses should also follow the 2% rule: Never risk more than 2% of your total capital on the same business. For example, if your portfolio is $ 10,000, your maximum risk should be $ 200 per business. It also keeps your account durable while losing lines.
Finally, plan always trades before you enter. Define the entrance point, stop loss and record the level in advance. Avoid deciding decisions will be inspired by Fomo or fear. Remember that discipline and patience are the real key to success in crypto trade.