How do I not lose money in trading cryptocurrency?

[Sunrise360]

With the little experience I've had so far, I don't think you can escape loosing money if you trade cryptocurrency. I think the best thing to do is try as much as possible to gain some knowledge before venturing into crypto trading. This way, you will be able to analyze a project to know when to invest and when not to. This will depend reduce your risk of loosing your money.


 Note: invest what you can afford to loose is the motto

[Mauser]

The easiest way to not lose money in trading is to never sell your positions. If you keep your red positions and hold out until they recover you never realise a loss. This is of course not practical or a smart way to trade crypto currencies. The main problem is that maybe a coin is a bad investment and will never recover for you to make a profit. In that case it makes sense to take the hit and reinvest into a much more promising project.  In my opinion it shouldn't be your goal to avoid losses in trading, because in many cases it can't be prevented. Look at the bear market we have this year, all coins fell in value. You would have lost money with any investment. Even switching out of cryptos and into stocks wouldn't have helped to avoid a loss. The only alternative was selling everything and stay in cash, but that is a bad idea because of the high inflation. Taking a loss from time to time is okay and doesn't even has to hurt us if we get a tax credit for it. 

[rojan]

all you mentioned are good tips that can prevent traders from losing or losing their money. But what really matters is how each trader regulates themselves or their emotions. if all the tips have been done correctly but the final result will be influenced by psychology or emotions when trading. psychology is not good and unstable will be very detrimental. any trader can lose money even if he is a professional. Self-control is very important to implement all the useful strategies and tips from you.

Emotional control and trading psychology are very useful especially when the market is not going as expected. Many new traders lose money selling at a loss due to a price correction, but it can also happen to experienced traders where a large price drop will put a lot of stress on their mental state. Not losing money trading fluctuating assets is difficult, but they should at least know how to minimize it.

Easy to say but would really be hard to be applied whenever you are already dealing with trading.We do all need those things but application is something that cant really be done
on someone who doesnt really have much experience or something like this.Losing money is just that a normal day since there's no such thing about being a perfect trader but rather on thinking
up on being that perfectionist its better to make yourself to be versatile at least on different market conditions which is likely to happen.Despite of losses then you should do your very
best to sustain yourself because this is they key that you would able to handle yourself on this market.

no one will ever be a perfectionist trader, that's just an expression. in practice, in fact it is very difficult and will not be in accordance with the strategy made. when the loss cannot be repaired, then improve the way we trade. Actually, when we still haven't sold the assets that we hold we will not lose, it's just that the value has decreased. go with the flow of the market and don't fight it.

This is crypto trading so it is too naive to think of being a perfectionist trader,
it is absolutely impossible and even professional traders make mistakes,
after all it is a risk of being a trader and it should be understood in advance

I agree with you.  When the market situation is bad, the price of all the coins suddenly goes down and most of the people lose.  Those who have big traders also lose.  I think the experienced people here have less loss.  So it is better to trade with advice from experienced people.  Must be experienced in trade.  If you trade according to all the rules, the loss will be very less.

[Lanatsa]

all you mentioned are good tips that can prevent traders from losing or losing their money. But what really matters is how each trader regulates themselves or their emotions. if all the tips have been done correctly but the final result will be influenced by psychology or emotions when trading. psychology is not good and unstable will be very detrimental. any trader can lose money even if he is a professional. Self-control is very important to implement all the useful strategies and tips from you.

Emotional control and trading psychology are very useful especially when the market is not going as expected. Many new traders lose money selling at a loss due to a price correction, but it can also happen to experienced traders where a large price drop will put a lot of stress on their mental state. Not losing money trading fluctuating assets is difficult, but they should at least know how to minimize it.

Easy to say but would really be hard to be applied whenever you are already dealing with trading.We do all need those things but application is something that cant really be done
on someone who doesnt really have much experience or something like this.Losing money is just that a normal day since there's no such thing about being a perfect trader but rather on thinking
up on being that perfectionist its better to make yourself to be versatile at least on different market conditions which is likely to happen.Despite of losses then you should do your very
best to sustain yourself because this is they key that you would able to handle yourself on this market.

no one will ever be a perfectionist trader, that's just an expression. in practice, in fact it is very difficult and will not be in accordance with the strategy made. when the loss cannot be repaired, then improve the way we trade. Actually, when we still haven't sold the assets that we hold we will not lose, it's just that the value has decreased. go with the flow of the market and don't fight it.

This is crypto trading so it is too naive to think of being a perfectionist trader,
it is absolutely impossible and even professional traders make mistakes,
after all it is a risk of being a trader and it should be understood in advance

I agree with you.  When the market situation is bad, the price of all the coins suddenly goes down and most of the people lose.  Those who have big traders also lose.  I think the experienced people here have less loss.  So it is better to trade with advice from experienced people.  Must be experienced in trade.  If you trade according to all the rules, the loss will be very less.

Experienced or professional then it would really be that much a solid thing to ensure that you wouldnt really have any losses considering this market is totally unpredictable then there's no
way that you could really make out perfect trades which you should anticipate that there would be losses on every trade you do make and just like been said by others that instead of minding
about having perfect trade then it would be better to make yourself prepared on back up plans whenever your trading analysis fails on which you could really make out immediate
action which it would lessen up the losses further which is all we do need.

[Munir575]

In any case, there is no guarantee that a transaction will go perfectly; thus, I recommend having experience behind you, trading with funds you are prepared to lose, and trading the top 10 coins, which will almost always return after a significant correction.You won't lose your money if you're willing to wait a very long period. The cryptocurrencies you invest in need to have potential and not turn out to be a fraud.