successful trading is about managing risk minimising it as possible as we can , i have read that with correct risk management even with flipping a coin we can do trading and be profitable
i want to know what methods/rules are there to minimise risks
When we do talk about minimizing risk then there would be lots on the list.
1. Never be greedy
6. Dont be emotional.
These are only the basics but actually a hard thing to be done.
Things like this are given and actually are basic stuffs to remember when managing the risk. Just want to point out the Greediness, I mean it isn't the worst thing to contain when trading coz it can give you more than you wanted if handled properly in trading. Emotion, we've always talk about this one for the past years in trading on which everyone has to avoid including it with the present possession while trading coz it might lead to such emotion based decision.
4. Set stop loss
This is the topmost and a must priority on minimizing the risk in trading. Set your ending, always have the finish line in every situation where you will stop winning or losing neither of the two. As a matter of fact setting a stop loss is really helpful especially when you don't have much spare in trading.
Indeed and by that thing i can proudly say that i have manage to lessen and handle well all the risk i have been taking and i think the most important two word you need to do in order to avoid or lessen risk here in crypto world is to set goal, by setting a goal you will not do something without a purpose which leads to better decision because of the path you are taking and also this will help you stop greediness.