Quote from: CryptopreneurBrainboss on January 22, 2020, 07:42:05 AM

Quote from: 4IRIK on January 20, 2020, 12:43:25 PM

I found lots of threads here on the reasons for losses or the ways to earn in the long term.

What types and methods of risk management you use? Any software? What risk limits do you set?

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.

~

Maybe taking courses is the missing part of my journey in trading, hmm. I just jumped into some random tutorials back in the day and did straight trading, although I agree that alts are riskier because they're pretty much drying up pretty quickly due to a lot of selling pressure rather than Bitcoin where there are pretty much many long-term hodlers.