In a rapidly changing market like cryptocurrencies, profit does not only depend on choosing the right currency, but also on how to manage capital. Many traders focus on the profit ratio and forget to account for potential losses.
A simple rule I adhere to: I do not risk more than a small percentage of capital on a single trade, and I always set an exit point before entering.
Discipline is more important than enthusiasm, and the plan is more important than expectations. Those who learn to manage risks can continue even in the toughest market periods.
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