I'd recommend you using a very small leverage, as a beginner or intermediate trader, it's best to use small leverage because it minimizes your risk of fast liquidation. Bitcoin is safe to trade but if you are looking for altcoins to trade, I'd recommend you go for solid coins like ETH and the rest, I don't trade meme coins or any random coin because the volatility can be crazy at time. Personally, I'm trading just Bitcoin and XRP for now.
Using smaller leverage is a good idea most especially as a new trader without much experience of the market and however even if we become more experienced in the trading journey we shouldn’t just go for higher leverage without applying proper risk management. High leverage comes along with risk so we need to be super careful of things we do.
Other tokens aside the most reliable and reputable ones can be risky and we don’t know much about their volatility so let focus on the top coins and trade with them we can make good profit from it when we apply good risk management.
Leveraged trading is no different from gambling, regardless of the pair you trade or the leverage.
If we are truly serious about trading, the right approach is to stay away from the future and focus more on spot trading. According to basic investment principles, the first thing a new investor should learn is how to survive in the market, not how to make quick profit.
Therefore, encouraging new trader to use either small or large leverage is a bad idea. Thats the mindset of a gambler hoping to get rich quick.
