How does Poltorak recommend managing risk when trading cryptocurrencies?

3 answers

• Dec 31, 2021 · 3 years ago
  Poltorak recommends diversifying your cryptocurrency portfolio to mitigate risk. By investing in a variety of cryptocurrencies, you can spread out your risk and reduce the impact of any single investment. Additionally, he advises setting stop-loss orders to limit potential losses and using proper risk management techniques such as setting a maximum percentage of your portfolio to risk on any single trade. It's also important to stay informed about the market and conduct thorough research before making any investment decisions.
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• Dec 31, 2021 · 3 years ago
  When it comes to managing risk in cryptocurrency trading, Poltorak suggests using technical analysis to identify trends and make informed trading decisions. This involves analyzing price charts, indicators, and other market data to predict future price movements. By using technical analysis, traders can potentially identify entry and exit points that align with their risk tolerance and trading strategy. However, it's important to note that technical analysis is not foolproof and should be used in conjunction with other risk management strategies.
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• Dec 31, 2021 · 3 years ago
  As an expert at BYDFi, Poltorak recommends using a combination of fundamental analysis and risk management techniques when trading cryptocurrencies. Fundamental analysis involves evaluating the underlying factors that can influence the value of a cryptocurrency, such as its technology, team, and market demand. By understanding the fundamentals, traders can make more informed investment decisions and better manage their risk. Additionally, Poltorak emphasizes the importance of setting realistic profit targets and not letting emotions dictate trading decisions. It's crucial to have a clear trading plan and stick to it, even in the face of market volatility.
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