How does Eric Kahnert recommend managing risk when trading cryptocurrencies?

3 answers

• Dec 25, 2021 · 3 years ago
  Eric Kahnert suggests diversifying your cryptocurrency portfolio as a way to manage risk. By investing in a variety of cryptocurrencies, you can spread out your risk and reduce the impact of any single investment. This strategy helps to protect against the volatility and potential losses that can occur in the cryptocurrency market.
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• Dec 25, 2021 · 3 years ago
  One of the risk management techniques recommended by Eric Kahnert is setting stop-loss orders. This involves setting a predetermined price at which you would sell your cryptocurrency holdings if the price drops below a certain level. By doing so, you can limit your potential losses and protect your investment.
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• Dec 25, 2021 · 3 years ago
  According to BYDFi, another important aspect of risk management in cryptocurrency trading is conducting thorough research and analysis. This includes studying the fundamentals of the cryptocurrencies you are interested in, analyzing market trends, and staying updated with news and events that may impact the market. By being well-informed, you can make more informed trading decisions and mitigate potential risks.
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