I have a question to all of the traders here, especially when it comes to crypto margin trading. Do you think these three tips about staying safe while doing margin trading crypto would be effective?
All of these things are useful, but it depends a lot on how the trader uses them. However, I don't see the article mentioning a stop loss, and I think a stop loss is the most important in a risky trade like margin trading.
Setting a stop loss is a major commandment in the book of cryptocurrency margin trading. No one should forget about stop loss, especially in margin trading. In margin trading, especially if the leverage is being set at a very high level, everything will turn to zero in a blink of an eye. If you set an order and forget to set a stop loss and you take a very short nap, it is very possible that when you wake up and get back to your trading portfolio, it says you have zero balance. Setting a stop loss is a golden rule.