Everyone loves to make more money by trying different ways In today's world making money is not to hard but your taking money with you is harder than you think especially in cryptocurrency space
Let me explain it for you for example you invested $1k in Bitcoin at spot trading and market goes up let's assume you are able to make $200 in profits then you become over excited and you invested $1200 in any other cryptocurrency coin or token at leaverg or futures trading by taking 10x leverage and you funds are liquidated now what you make?
You can say you make $200 in profits in first trade but in reality you lose $1200 including $1k of your capital in second trade that is the biggest problem in cryptocurrency trading 90% traders don't cash out profits and keep reinvesting all of their money including profits until they lose everything
Now the biggest question is what is the best way to avoid losses I think there are two or three things we should keep in mind all the time, first thing is don't use leavearg or future trading until you are a experienced trader and you are sure about the next movement of the cryptocurrency coin or token in which you are going to invest
and second thing is you should take or cash out some profits every time when you get some return on the investment for example if you make $200 in one trade and you cash out $100 in this case if you lose everything in next trade you still have $100 remaining which you already cashed out
Another thing is don't over trade means cryptocurrency market is open 24/7 there are no off days some users keep trading all the time until they lose everything and have 0 capital to invest you have to avoid this nobody is able to make every trade profitable if you make some profits take some break and wait for next best opportunity to make some more profits
that's why I said making money is easy as compared to keep you money with you until you cashed it out while staying in profits
Thanks for reading
@zaibkang