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
The methods/rules to minimize risks:
1. Don't use big money to trade if you don't know how to trade with the right.
2. Select the coin, which is in the top 50 coins, so that you can analyze the moves of the coins.
3. Don't greedy to try to make a bigger profit if the situations are unpredicted.
4. Take your profit while you can, and don't wait for another bigger profit because that will not always happen.
5. Leave the market if you think the market cannot move well.
6. Don't force yourself to trade if the coin already moves to the higher price.
7. Don't forget to analyze the coins moves before you buy, and don't panic to buy or sell if the price of the coin is moved.
I think that is some of the methods that you can use to minimize the risks. I think the other members already share their method to reduce the risks, and I am sure that you already know or have your way to prevent the big risks.