Many beginners ask: How much can this coin make?” But a more important question is: What will I do if things don't go as planned?” Before entering a trade or investment, consider these 5 questions:
1️⃣ What is my reason for entering? If you can't explain your reason clearly, pause.
2️⃣ What risks could invalidate my idea? Don't only look for reasons to be right.
3️⃣ How much am I willing to risk? Decide this before emotions take over.
4️⃣ What would make me reduce or close the position? Have a plan before the market forces you to make one.
5️⃣ Am I prepared to be wrong? Being wrong about a trade doesn't make you a failure. Refusing to accept that you're wrong can make a small mistake much larger.
🔑 REMEMBER: An entry without a plan can easily become an emotional decision. You don't control what the market will do. But you can prepare for different possibilities.
💬 Which do you think beginners should define before entering?
A. The reason for entering
B. The amount at risk
C. When to exit
D. What could prove the idea wrong
E. All of the above
👇 Share your answer. Let's keep learning together one decision at a time.