ADVISE TO NEWBIES IN CRYTO TRADING

So many people now go into crypto trading because of the hype and the profits in it without knowing anything about it and this makes them loose money. In this post, I will be listing out some key advice to newbies that want to go into crypto trading.

Before beginning to trade, I would like them to procure some items from the market and be aware of the associated risk.

Be patient and don't rush into opening a trade because there are always multiple chances to enter the market.

Be perfect in your technical analysis; it's best to spend some time looking at the market before predicting the next move.

Choose a strategy that works best for you. The majority of beginners enjoy copying other traders' strategies because they lack confidence.

Before investing, make sure you do your homework. There are many cryptocurrency projects that are based on scams. The best way to avoid being a rug-pull victim is to read the white paper and learn what you're getting into.

The most important aspect of risk management is understanding that you are merely blending in with the market and that your assets' movements in the market are only 0.00001 significant, so when you only have a small amount of trading capital, you should reduce your risk.

Be wary of the strong hands because the strong hands always have control of the market and liquidate weak hands to take positions and profit from them. You should avoid following trends, enter trades based on your analysis, and gamble in the market