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How to become a profitable crypto trader?

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Always avoid taking too large trades and positions about your total portfolio value. A standard benchmark is never having more than 1% of your trading portfolio in one place.

The level is individual since some traders take hedging positions and reduce the risk for each trade. 

Another example is to start thinking about what your monthly goal is to be able to live from your trading.

From here, break it down to daily profits. 

For example: Let’s say your monthly goal is $6000, and the daily goal is to make a $200 daily profit. Now, are you comfortable with these levels are do you need more each month to live on your trading?

If you think you need more, you will either need a more extensive portfolio value or you need to take a higher risk to reach that level.

Make sure to find a risk level appropriate for your portfolio value and that you are comfortable with. If you ever come into a position you need to “hunt” to get back on track you are at too high a risk level.

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