Risk Management

Risk management; for those of us aspiring to be long term traders of cryptocurrencies, it is important we understand the concept of managing risks to avoid losing all your hard earned assets at once. In every investment there are risks, with the volatility of cryptocurrencies there are even more risks associated with trading. For risk management in crypto, you must have a goal how long will you ride a bull run, at what point will you liquidate and leave a bear run, it is important you have all this in mind, it is not enough to just want to turn a profit you must have percentages in mind. The next step is to identify the risks to your investment such as volatility in this case or bad news and monitor for this risks constantly, you must also have already prepared responses for this risks, do you have stop losses to take you out of trades when necessary, or do you convert your cryptocurrency to stable coins when this happens. This is just an introduction you do your own research into risk management.