2. Having it in mind that it is better to earn little than to lose big all because you want to earn big
This is an important aspect of trading that people especially newbies that are practicing risk management do neglect. It is better to earn gradually than trying to earn big and losing all of your money. In trading, the more you risk, the more you lose and vice versa. Rome was not built in a day, so you have to be patience to see yourself grow gradually as your earn little by little until you have gotten enough capital to risk more of your initial investment at hand that time.
4. Be careful of altcoins. Although I trade altcoins but I use very lower amount of money for it. They are very dangerous.
Trading of altcoins are the focus of some people because of the high risk volatile market that it is. Those that don’t really have patience to wait consider memecoins for fast gains, having no patient to wait for the market to reach their zone. The market makes the moves sharply and they immediately get onto the trade to either give them a TP or SL which is okay by them. The risky nature of altcoin is not for beginner traders especially memecoins, so it’s important they are not traded until they’re more mastered than before.