Every trader should be aware of risk management before picking interest in trading. Preferably taking courses on risk management should be considered an important part of understanding the act of trading. The diversification of assets is one of the ways to avoid losses although for the cryptocurrency industry, this technique is been misunderstood.

Assets that are related aren't worth diversifying since the market performance is directly influence by the same factor. Trading multiple altcoins is more risky than trading bitcoin or a particular Altcoin.  The whole concept of risk management is to avoid losses therefore anything that'll result to more losses than profit should be avoided by all course.

The used of advance trading tools like stop loss and buy limit can also be leverage on. The used of advance trading bot can also be considered if you're not an active trader constantly on your system 24 hours, 7 days a week monitoring the market.