Did you know:
💥Managing risks is more important than achieving profits💥
I will provide some tips that will help you in managing risks:
⬅️ First: Do not enter into a deal with your entire capital, no matter how profitable it may seem to you. Rather, divide your capital into four parts:
1- A section in which you buy cheap currencies that you expect will rise in the future, meme currencies for example, but let them be a variety of currencies and not just one.
2- A section that you use for daily, weekly, or monthly trading as you wish. There are those who prefer scalping, which is rapid trading under the slogan “dig in and run away.”
3- A section where you buy strong currencies that you can keep in the long term, such as: Sol - BTC - Eth...
4- A fourth section that you keep in the form of stable currencies, such as “USDT,” for example, that you keep for emergencies, such as if the price of a particular currency drops suddenly.
⬅️ Second: If you entered into a spot deal and the price dropped, never sell at a loss, as long as you did not sell, you did not lose, and if you sold, you proved the loss. We sell at a loss in only one case, if it is proven that the currency has collapsed for a sudden reason, and selling here is for the purpose of getting rid of it. Of the currency to limit losses is nothing but.
⬅️ Third: Avoid future deals, but if you enter into a deal, use the stop-loss and take-profit features, and do not use high-ratio leverage, because in this case you will put your capital into a holocaust that you will later regret.
⏪️ Finally, control your psychology and get rid of the enemies of traders: greed, fear accompanied by panic, and FOMO.
💥Managing risks is more important than achieving profits💥
I will provide some tips that will help you in managing risks:
⬅️ First: Do not enter into a deal with your entire capital, no matter how profitable it may seem to you. Rather, divide your capital into four parts:
1- A section in which you buy cheap currencies that you expect will rise in the future, meme currencies for example, but let them be a variety of currencies and not just one.
2- A section that you use for daily, weekly, or monthly trading as you wish. There are those who prefer scalping, which is rapid trading under the slogan “dig in and run away.”
3- A section where you buy strong currencies that you can keep in the long term, such as: Sol - BTC - Eth...
4- A fourth section that you keep in the form of stable currencies, such as “USDT,” for example, that you keep for emergencies, such as if the price of a particular currency drops suddenly.
⬅️ Second: If you entered into a spot deal and the price dropped, never sell at a loss, as long as you did not sell, you did not lose, and if you sold, you proved the loss. We sell at a loss in only one case, if it is proven that the currency has collapsed for a sudden reason, and selling here is for the purpose of getting rid of it. Of the currency to limit losses is nothing but.
⬅️ Third: Avoid future deals, but if you enter into a deal, use the stop-loss and take-profit features, and do not use high-ratio leverage, because in this case you will put your capital into a holocaust that you will later regret.
⏪️ Finally, control your psychology and get rid of the enemies of traders: greed, fear accompanied by panic, and FOMO.