2. Risk management: You must work on your risk/reward ratio, know how much you must invest in a coin, and only invest what you can afford to lose. If you are trading futures, always use a low laverage and don't forget to use a stop loss.
When it comes to active trading, risk management is a must. It can help you cut down on losses and protect your account from complete and total destruction. A successful trader must be using risk management techniques- which is integral to effective trading. If you don't, you'll end up with massive successes followed by just as huge failures.
Planing your risk management method is an essential step before you begin trading.
While taking risks is always a part of trading, it's essential to stay in control. Having a strategic approach to cutting losses is the key to maintaining profits.
If you don't want to risk losing, you will need to incorporate risk management practices like stop orders or profit-taking.
Thank you for your remarks. I just wanted to poke more about risk management cause I think it can't ever be overemphasized.