๐ Trading Psychology & Risk Management
To succeed in trading, you need to manage two situations:
๐ด When youโre at a loss:
Donโt enter a new trade or average down before your SL is hit.
Avoid revenge trading to recover your losses.
Always stick to your predetermined SL.
๐ข When youโre in profit:
Donโt close a trade too quickly out of fear.
Use a trailing stop and book partial profits according to your plan.
Manage your SL and TP based on the market structure.
๐ฏ 3 Golden Rules:
Trades hitting your SL are a normal part of trading.
Protecting your capital is more important than making a profit.
Follow your trading plan, not your emotions.
Remember: Keep losses small, let profits run according to plan, and never revenge trade. โ
To succeed in trading, you need to manage two situations:
๐ด When youโre at a loss:
Donโt enter a new trade or average down before your SL is hit.
Avoid revenge trading to recover your losses.
Always stick to your predetermined SL.
๐ข When youโre in profit:
Donโt close a trade too quickly out of fear.
Use a trailing stop and book partial profits according to your plan.
Manage your SL and TP based on the market structure.
๐ฏ 3 Golden Rules:
Trades hitting your SL are a normal part of trading.
Protecting your capital is more important than making a profit.
Follow your trading plan, not your emotions.
Remember: Keep losses small, let profits run according to plan, and never revenge trade. โ