What strategies can I use to minimize losses when trading CFDs on cryptocurrencies?

1 answers

• Dec 16, 2021 · 3 years ago
  At BYDFi, we recommend using a risk management strategy called position sizing. This involves determining the appropriate amount of capital to allocate to each trade based on your risk tolerance and the size of your trading account. By carefully managing your position sizes, you can limit the impact of potential losses on your overall portfolio. It's also important to have a clear exit strategy in place. This means setting profit targets and stop-loss levels before entering a trade. By sticking to your predefined exit strategy, you can avoid making impulsive decisions based on emotions and minimize losses.
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