After much reflection, you have decided to invest in cryptocurrency. You have researched, saved money, read books on trading. The only downside? You don’t know where to start crypto trading. Here is a brief guide to help you take your first steps in trading.
Risk Management: The Holy Grail of Trading?
The Risk management This is one of the most important things if you want to be successful in crypto trading, especially if you are just starting out. Even if you believe in a certain technique, nothing is ever guaranteed. There is no method strategy that works every time. Loss is inevitable. However, they can be limited. Start by applying effective risk management to your crypto trading system. This is what will keep you in the game in the long run.
To adopt a strategy Risk management Enough, here are some tips that we made especially for you:
- Use the command Stop-Loss And to take profit ;
- Risk only 1% of your capital per trade;
- Open trades that have a risk-reward ratio of 1:2 or more.
Trading in the crypto market can be risky. Having a solid risk management strategy is crucial.
You can start learning trading strategies later. It can be based on candlestick readings, technical indicator analysis or a combination of both.
Crypto: Where to start trading?
If you are new to crypto trading, the best thing to do is to learn how to apply one Risk management In every trade. This will serve to protect your initial capital. Then learn how to read technical indicators and candlestick charts to develop your cryptocurrency trading strategy. Remember that crypto trading can be very profitable in the long run, if you are disciplined.
Get a digest of news from the world of cryptocurrencies by subscribing to our new serviceDaily and weekly so you don’t miss any essential Cointribune!
The Cointribune editorial team combines its voices to express themselves on topics specific to cryptocurrencies, investments, metaverse and NFTs, striving to best answer your questions.