After much thought, you have decided to invest in cryptocurrencies. You’ve done research, saved money, read trading books. The only negative? You don’t know where to start in cryptocurrency trading. Here is a short guide that will help you take your first steps in trading.

Risk Management: the Holy Grail of trading?

the risk management is one of the most important things if you want to be successful in cryptocurrency trading, especially if you are just starting out. Even if you trust a particular strategy, nothing is ever guaranteed. There is no approach strategy that works every time. Losses are inevitable. However, they can be limited. Start by applying effective risk management in your cryptocurrency trading system. This is what will keep you in the game in the long run.

To adopt a strategy of risk management adequate, here are some tips we have developed especially for you:

  • Use orders stop loss And make a profit ;
  • Risk only 1% of your capital per trade;
  • Open trades that have at least a risk-reward ratio of 1: 2 or higher.

Starting trading in the cryptocurrency market can be risky. It is extremely important to have a solid risk management strategy.

You can start learning trading strategies later. This can be based on reading candles, analyzing technical indicators, or a combination of both.

trading-crypto-risk management

Crypto: where to start trading?

If you are new to cryptocurrency trading, the best thing to do is to learn how to apply to risk management on each operation. This will serve to protect your starting capital. Then learn how to read technical indicators and candlestick charts to build your cryptocurrency trading strategy. Remember that cryptocurrency trading can be very profitable in the long run if you stay disciplined.

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The editorial team of Cointribune avatar

The editorial staff of Cointribune

SEO Web Editor for 3 years, I specialize in cryptocurrencies, blockchain, trading and NFT.

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