It's January 5 and those traders who focus on using leverage are already hitting huge losses when it's not even bear market.
Even when there is no bear, traders still lose money, most especially future traders. When trading, always manage your risk. Don’t think that because the market is stable or because we are in a bull run you are going to use high leverage when trading futures. Even during a bull run, always maintain low leverage. Anything can happen at any particular time that the market will go against your trade. So when trading futures, always maintain low leverage, don’t enter a trade with all the amount you deposit, just enter a trade with some part and leave the remaining amount to extend your liquidation, and always do your analysis well before entering a trade.
Trading is hard and risky while using leverage makes it more risky especially using high leverages.
I don’t discourage people when they come to meet me that they want to learn trading, but seriously, I do discourage people from trading futures. The risk is just kind of high, and lots of people are always interested in future trading, especially the newbies, because of the high reward in future trading, but most of them don’t think about the risk involved in it, and after losing, they will end up regretting why they started trading futures.
The best bet now is to HODL even if you are investing in altcoin find some trusted ones and HODL while if you reduce risk entirely just stick with bitcoin since we have seen alot of altcoins which fail to meet expectations.
If you want to trade, then there is nothing bad about it, just avoid future trading, or use small leverage and use the little amount you can afford to lose when trading both spot trading and future trading. Altcoins are not to be trusted, even the so called strong altcoins are not supposed to be trusted, we saw the once that failed us recently, they are also strong altcoins. The best thing to do is to invest in bitcoin if you are planning to make an investment, and make sure your bitcoin is properly secured and your private key is stored properly.