1. Position is the most important thing
2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
3. Always set stop loss below 10% of the account
4. Do not borrow, deposit too large (under 25X is safe)
5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets
2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
3. Always set stop loss below 10% of the account
4. Do not borrow, deposit too large (under 25X is safe)
5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets
For a beginner, I suggest studying all the information about trading both on the forum and on the youtube channel. Now there are lots of articles and youtube channels that discuss the right way of trading. So that we do not experience huge losses when trading.
When he said position is important I actually believe it. I do a lot of 69 positions when I was in my early 20s now, I'm disgusted with what I did.
OP is up for margin trading as I can see but it's not for newbies when you do that. Most newbies are going to the spot market. It's the way for crypto newbies to earn more than just going to leverage which if he doesn't have much experience and lots of reading the indicators, he will lose.