Post
Topic
Board Trading Discussion
Re: Risks tied to using a single exchange
by
Mpamaegbu
on 30/08/2025, 08:22:06 UTC
This just shows why you should have options open as a form of risk management because this can happen to any exchange at any time.
That's why we can't overemphasize the use of SL (Stop Loss) and MM (Money Management). Without those two, no matter how good one tends to think one is trading, it's just a matter of time before one burns that account and several others.

Quote
Do you also use multiple exchanges or you stick to one ?
The idea of having more than one exchange accounts is better than having one but that's not to say it's a wise decision to spread oneself think by operating several exchange accounts. Maybe two or three, and at most four accounts will be okay to operate at once. I said four exchange accounts because there are certain exchanges where coins/tokens one wants to buy aren't listed. No exchange has all coins and tokens. For me, having Trust Wallet and Phantom wallet is a must for anyone trading in this industry.