1. Know yourself. Define your risk tolerance carefully. Understand your needs.
To profit in trading, you must make recognize the markets. To recognize the markets, you must first know and recognize yourself. The first step of gaining self-awareness is ensuring that your risk tolerance and capital allocation to crypto and trading are not excessive or lacking. This means that you must carefully study and analyze your own financial goals in engaging crypto trading.
2. Plan your goals. Stick to your plan.
Once you know what you want from trading, you must systematically define a timeframe and a working plan for your trading career. What constitutes failure, what would be defined as success? What is the timeframe for the trial and error process that will inevitably be an important part of your learning? How much time can you devote to trading? Do you aim at financial independence, or merely aim to generate extra income? These and similar questions must be answered before you can gain the clear vision necessary for a persistent and patient approach to trading. Also, having clear goals will make it easier to abandon the endeavor entirely in case that the risks/return analysis precludes a profitable outcome.
Hope this could help some newbies in trading crypto
determine your risks carefully.
this is certainly going to be done by everyone in the trade, nevertheless the trade name there is definitely a term profit and loss. Because not always what we want the same as the reality that the name of the market price must change change can go up can also go down.
plan your goals and stick to your plans.
the plan of a merchant would want to earn a profit and stick to your plan is not going to be easy, because if we have entered the market and start trading what we think would have changed.your motion will come and happened panic buying and selling because market movement is very fast .