Post
Topic
Board Trading Discussion
Re: Risk management
by
sulendra12
on 08/07/2023, 18:55:01 UTC
_ Don't risk too much money, start with what you can afford to risk. Focus on the risk not rewards.
Just make sure to not to be overconfident especially with the low risk stuff because you can easily losses your money if there is something unexpected occur during your trade. Keep your eyes open on everything.

_ 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.
Stop loss is a mandatory thing to do if you don't want to drain your money fast because you don't know what to do when the chart is keep going down continuously. For beginner traders, they probably don't know when to start and just keep waiting until the price meet their criteria but in reality it's really difficult to happen. I'd prefer to use the losses as my part of experience so I can learn and avoid to make the same mistake again.