Title: Set a daily loss limit for yourself, seriously
Post:
Used to keep trading even after a bad start to the day, thinking the next one would fix it. Usually just made things worse by the end of the day.
Now I have a simple rule, if I hit a certain loss amount in a day, I'm done, no matter what. Close the app, come back tomorrow.
Doesn't matter how "sure" the next setup looks, once that limit is hit, my judgment isn't reliable anymore anyway.
This one rule alone saved me from way bigger losses than any strategy ever did.
Do you have a daily stop point or do you just keep going?
#Crypto #Trading #RiskManagement
Post:
Used to keep trading even after a bad start to the day, thinking the next one would fix it. Usually just made things worse by the end of the day.
Now I have a simple rule, if I hit a certain loss amount in a day, I'm done, no matter what. Close the app, come back tomorrow.
Doesn't matter how "sure" the next setup looks, once that limit is hit, my judgment isn't reliable anymore anyway.
This one rule alone saved me from way bigger losses than any strategy ever did.
Do you have a daily stop point or do you just keep going?
#Crypto #Trading #RiskManagement