btaliat
VIP Contributor
Cryptocurrency is no doubt a risk venture. It can easily make a trader and as well mar a trader. This is the major reason why a crypto trader must be very reddy before venturing into the world of crypto. Hence, to play safe, we need to minimize our risk.
Risk can be minimized by controlling our emotion while trading. Traders are always faced how to create balance between greenness and fear. For instance, a reader may get confused whether to sell off his coins, whether he has had gained on it or not, during bearish moment likewise being get confused whether to sell or keep the coins during the bullish moment.
Another way of reducing our risk is by trading with what we can afford to lose. Most traders have lost all what they have in the course of looking for what they don't have. Some invested heavily on a coin with the aim of making it big at once. And this has made some people to have accumulated loses instead of profit they aim at making.
Further more, we need research before taking a trade. We need to know the story behind the coins we want to trade in. We should deeply rely on the technical and fundamental analysis before taking any trade. This will let us know when to enter a trade and when to exit a trade.
Risk can be minimized by controlling our emotion while trading. Traders are always faced how to create balance between greenness and fear. For instance, a reader may get confused whether to sell off his coins, whether he has had gained on it or not, during bearish moment likewise being get confused whether to sell or keep the coins during the bullish moment.
Another way of reducing our risk is by trading with what we can afford to lose. Most traders have lost all what they have in the course of looking for what they don't have. Some invested heavily on a coin with the aim of making it big at once. And this has made some people to have accumulated loses instead of profit they aim at making.
Further more, we need research before taking a trade. We need to know the story behind the coins we want to trade in. We should deeply rely on the technical and fundamental analysis before taking any trade. This will let us know when to enter a trade and when to exit a trade.