I found lots of threads here on the reasons for losses or the ways to earn in the long term.
Some of the threads are quite useful, but here I'd like to put special attention to risk management. Many traders, even those who use cool strategies lose. Everyone loses sometimes. This is a rule of the market.
I'm already 10 years in trading and can state that to save is harder than to earn, that's my position. So, always plan your trading system with a special attention to risk management.
Here you can read about risks and losses:
https://www.bitinsure.com/blog/?p=35
And also reasons not to rely fully on trading bots:
https://www.bitinsure.com/blog/?p=59
Probably after it you will pay more attention to risks. Hope this will be useful.
What types and methods of risk management you use? Any software? What risk limits do you set?
Let's share
Some of the threads are quite useful, but here I'd like to put special attention to risk management. Many traders, even those who use cool strategies lose. Everyone loses sometimes. This is a rule of the market.
I'm already 10 years in trading and can state that to save is harder than to earn, that's my position. So, always plan your trading system with a special attention to risk management.
Here you can read about risks and losses:
https://www.bitinsure.com/blog/?p=35
And also reasons not to rely fully on trading bots:
https://www.bitinsure.com/blog/?p=59
Probably after it you will pay more attention to risks. Hope this will be useful.
What types and methods of risk management you use? Any software? What risk limits do you set?
Let's share
Diversifying everything and everywhere is probably the solution that is closest to perfect in a vacuum.You want to be minimizing variance of basically everything: regulations, trends, centralization, CEOs dying in a car crash and what not. For first, I keep my money on many exchanges as well as most of it in cold storage. Even if they are big and will not collapse after hack, it may take some time to do investigation and repay customers so you'd rather not be left without your money for a few months. Then diversifying your portfolio into different assets and then your strategies so they do not correlate too much. There is many places it can go wrong so if you give yourself the biggest possible amount of lottery tickets you gave the best chance no to leave empty handed.