Post
Topic
Board Trading Discussion
Re: Guide to Crypto Trading Strategy and Risk Management
by
LOLpenguin
on 20/02/2019, 13:48:26 UTC
Risk management is definitely one of the most important aspects of trading. You can be great at reading charts but if you can't manage your risks, you'll lose your profits faster then a crypto newbie loses his hope for a new lambo after the market crashes. Risk management is not only in choosing the right projects, it is also in optimizing your trading system. You should keep the funds you are not actively trading off the exchange, preferably on a secure device like a hardware wallet like Leger Nano or Trezor, or on a phone that's designed for security like BitWings' Wings WX phone. You should also take into account things like transaction fees and gate fees. And of course your behavior on the internet, although if you have a phone dedicated for security, it won't be as critical, but the correct behavior is still important.