The benefits of cryptocurrency margin trading are numerous. By allowing for incredible profitability and the ability to trade on the short side, margin exchanges have become popular with cryptocurrency traders of all experience levels.
However, although margin trading has the potential to generate spectacular profits without requiring much starting-capital, it is also possible to suffer significant losses if traders lack adequate caution when selecting and executing trades.Read the top 3 tips hereI 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?
Despite that you can say it's the safest way in trading cryptocurrencies, there's no such guarantee that it would be really "safe" as the market is so unpredictable that it would go down anytime without warning.
Just like what is happening to Bitcoin and other cryptocurrencies now, the prices are going down and it may expect to go even deeper as much as $7,400. Now it's hanging on around $7,600+.
Yes, the prediction is always predictive and when we know to avoid the risk of going against the trend, then we are the successful traders. such as where we plan to place the stoploss when we see the market price has moved to a different level from our open price. It is one of the very important skills that will help us make a small loss but predict the future market trend.
In general, trading in the crypto market is quite risky, so we need to get used to it for a long time to be surprised and should start with low leverage if the market moves beyond our prediction.