When trading there are rules to observe in other to protect your margin, it's more like if you can't make more money, don't lose the one you have,
That's where risk management comes in handy.
The strategies are;
_ Don't risk too much money, start with what you can afford to risk. Focus on the risk not rewards.
_ Identify potential risk as;if it goes down, if you don't take profit, if you don't use stop loss and if the coin goes against your analysis.
_ Reacting to risk, use stop loss and always take profit.
Well, taking risk management by setting your stop loss is a good way to prevent you from further losing. But not all traders are capable to do that since beginner traders have less discipline in the market and once they start trading, they will never stop unless they gain significant profits. But in reality, not all trades are profitable especially if you do trading against the market. That remains a challenge for us that even veterans in the market still fail to it.