Just yesterday, I went 100% long on POPCAT with 20x leverage. Things looked good at first, but within 30 minutes, the price came back to my entry point and I ended up making nothing on the trade.
Is there a smart way to protect my trades or reduce the risk? Any advice would really help.
It's good that you didn't lose money because many traders including me have lost money trading high Leverage. That's the most common way people lose in trading because people become greedy and trade with getting quick money in their Mind. So the First thing you should do is become disciplined and then trade with capital that you can bear to lose. Another thing you should not do is going against the trend you should always go with the trend and don't trade every move but trade with perfect setups. And it won't be long till you become profitable.