Good advice! As a trader, your #1 job is to manage risk. You can't control where the market will go, so you have to control how much you're willing to risk on a given trade. Your success as a trader is not determined by how much money you have but how well you followed your plan! Have an exit strategy before you place a trade.
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Clarify your goals from the beginning. Are you trading in hopes to profit in USD or BTC? ETH? This determines which chart to use. If you're trading alts, the alt/BTC chart tells you whether you should be hodling bitcoin even if the altcoin is gaining in USD. Hodling bitcoin is the opportunity cost to trading alts. Don't attempt to trade unless you believe your strategy can outperform a buy and hodl strategy. Strong hands!