Very pertinent. Basically, calculated risk, control frenzy movement, experiment with small amounts and learn from your mistakes.
Controlling FOMO emotions very important. It's almost like crypto volatity. See as a novice trader, atleast I FOMOED, I did not now when to sell and buy and all...later post a lot of loss and falls... I have become like a large cap stable coin, not FOMOIng with price rise...
I study prices, price action and aim to trade the parabolic run , then sell and book profits. Doing this a number of times, gives you confidence and you learn to time things better...
Right now, its easy to make profits, because its bull run and many cryptos are yet to reach their ultimate ATH... so just buy at a price crypto is stable now(support levels) and sell when it reaches resistance.
For DEFI coins, I brought one LEND/AAve ... I have to you know make plans to see when I can sell and all.
Please buy coins if you can when prices are low, and on projects that have got sound fundamentals... else your out of the game.
It takes lot of patience...but well, returns are good and this is the happening hot trend in the world of fiance and technology and the into place to be in now!!
In return you get a lot of knowledge and growth also, almost as fast as crypto growth, so its worth it, it will benefit you in the upcoming future, giving you an edge against those who don't know or ventured into this space.
At the right time, when I get enough money, I am planning to take a crypto course and then get certified and become a professional crypto journalist.
I have to work on Technical analysis bit a lot and see...
RE: Always have a plan of entry and exit - Risk Control