Manage your leverage: when placing a trade, always check your liquidation price. If you are using 20x leverage, your position will be liquidated if the price moves against you ~5%, if using 5x leverage, the price must move ~20% against you, etc.
Use Stop Limits to limit your losses: Stop limit orders will automatically close your position at a certain price if the market prices move unfavorably for your position. This allows you to prevent further losses without having to be present to close your position manually.
Use Trailing Stops to protect your profit: trailing stops allow you to protect gains by enabling a trade to remain open and continue to profit as long as the price is moving in your favor.
Set exit trade at price target: when opening a trade, you should always know your exit strategy. Calculate your price target and set a limit order. You will either eventually close your position or get liquidated.
Asset diversification: traders could combine strategies to diversify their returns over time. With this approach, the long-term returns of a portfolio are not tied to the performance of just one asset.