I guess we can do this by working with more reliable sources and not jumping into every opportunity. It is not possible to reduce the loss completely, for that we should not trade for it. But, with smarter risks, we can reduce the loss a little.
Thats right, that's what we can do, with reduce risk in trading. You can do that by enriching yourself about the science of trade, strategy, and honing your skills. if you want minimize losses, what you can do is cutlose or try to recover by trading on another coin
In my opinion, the best way to minimize the loss in trading is your investment in the down market. This is no doubt a good way to make things happen and a rise like this will add further value to the initial value of the coins you have. Always try to trade in the leading coins because they have high volatility and this volatility actually makes it very prone towards price rise in the market.
Avoiding losses or maximizing profits are same thing with respect to trading always. Hence, a trader just always need to focus on maximizing his chances of cracking big profits for his capital which will lead to avoid losses ultimately at the end of the day. Just focus on research and analysis and you are all set perfectly.