In the cryptocurrency market, preserving capital is as important as making profits. Many new traders face difficulties not due to market conditions, but due to the lack of a clear plan.
To improve your trading performance, experts recommend avoiding these three practices:
1. The rush for sudden gains (FOMO) 📈
Entering a buy trade just because the price is rising quickly is a common mistake. Fear of missing out may push you to buy at the peak before a price correction.
The right strategy: Wait for the price to stabilize or drop to strong support levels before entering. Patience is the key to success.
2. Lack of risk management 🛡️
Entering a large portion of the portfolio into a single trade exposes you to unnecessary risks. Market fluctuations are normal, and you must be prepared for them.
Tip: It is preferable not to risk a large percentage of your capital in a single trade and to use 'Stop Loss' orders to protect your portfolio from sharp fluctuations.
3. Emotional trading 🧘♂️
Attempting to recover losses immediately after an unsuccessful trade often leads to ill-considered decisions.
Solution: Trading requires a clear mind. If you experience a loss, take a break and review your strategy calmly rather than rushing.
💡 Summary:
Investing in $BTC BTC and $ETH TH and other currencies requires a long-term perspective and continuous learning. Adhering to the rules reduces risks and increases chances of success.
Share your opinion: What is the most important advice you have learned in your journey? 👇
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