<p>No matter the size of your deposit, begin trading with small amounts: $10, $100. As you gain experience, you can increase your deposit, but be ready to lose it. This will help you understand market participant behavior.</p><ul><li>Trade only with funds you can afford to lose; losing them shouldn&#39;t affect your quality of life.</li><li>Don&#39;t rush to leave your main job; let trading be a hobby initially. It might turn into something more over time, but that&#39;s not guaranteed.</li><li>More trades don&#39;t equal more profit. Sometimes fewer trades can be more profitable than many daily trades. Without experience, it can be challenging to know when to stay out of the market.</li><li>Traders spend 90% of their time analyzing instruments and circumstances. Forget rushing; opportunities appear and disappear daily. Learn to wait. Begin with paper trading to get accustomed to the process.</li><li>Note the time spent as well as profit or loss. Regardless of your preferred timeframes, start with longer ones like monthly, weekly, and daily charts for an overall view.</li><li>Markets are cyclical; they don&#39;t rise or fall indefinitely. Reversals often happen unexpectedly. Base decisions on a well-thought-out plan, not emotions.</li><li>Develop your own strategy based on your data and temperament. Don&#39;t ask others where to buy or sell; they don&#39;t know. If an instrument has risen several hundred percent from the bottom, entering without stops is irrational.</li><li>If it has gained several thousand percent, avoid entering without waiting for a significant pullback. Even if indicators suggest a specific direction, always consider a 1% chance of the opposite happening to avoid significant losses. Always manage risks.</li><li>Regularly withdraw a portion of your profits. Understand why you&#39;re investing your time. Ideally, withdraw all your initial investment over time to make operating the deposit easier psychologically.</li><li>There are no universal strategies. Your strategy should be proven but flexible to market conditions. What works in a rising market may not work in a falling one, and vice versa. Adapt quickly and manage risks skillfully to make money.<a href="https://www.binance.com/en/square/hashtag/TraderEducation" rel="noopener noreferrer nofollow">#TraderEducation </a><a href="https://www.binance.com/en/square/hashtag/TradingTipOfTheDay" rel="noopener noreferrer nofollow">#TradingTipOfTheDay </a></li></ul>

Recommendations for new traders

crypto4light

2024年6月22日公開の他の記事

Solana Overtakes Ethereum in DEX Trading Volume Amid Memecoin Frenzy

$2.7 Million raised by MoonBag Coin! Muscles Out BitBot and Chainlink in Record-Breaking Presale!

Time for Bitcoin Miners to Revise Strategies? Crucial Factors to Consider

Stellar Network’s Protocol 21 Upgrade: Ushering in New Features and Enhancements

Chinese educational AI apps gain market in the United States

Messari’s New Report Recognizes Nervos CKB as a Game-Changer for Bitcoin’s Scalability and Progra...

ニュースレターを購読して暗号資産の最新情報を毎日入手！