Top Secrets of a Profitable Trader!!!
You need to know this, it will help you manage your trading Risks.
Today I want to tell us one way to avoid losing all funds while trading.
In every of my wallet accounts, I split my funds to different sections. I can have 20% funds in Futures, 30% in Spot trades and 50% in my Funding section.
I do this everyday because I have to manage my spendings and profits.
The percentage in my Futures wallet is for trading for the day, after trading and getting profits, I split again and transfer some to my Funding section.
With this, I won't trade more than I budgeted for the day. If I trade in loss, the account stays that way till next day then I split funds again.
My daily Futures balance depends on what I am willing to lose in that particular day.
My funding section serves as my bank account if I need to deposit to Futures.
Also, when the amount in Funding section is smiling, I withdraw to my bank to smile better😂
In summary, learn to manage your spendings on trades. This will help you build a better trading life and also keep you far from blowing your trading accounts.
The image attached shows amount split between Funding wallet and Futures wallet.
You need to know this, it will help you manage your trading Risks.
Today I want to tell us one way to avoid losing all funds while trading.
In every of my wallet accounts, I split my funds to different sections. I can have 20% funds in Futures, 30% in Spot trades and 50% in my Funding section.
I do this everyday because I have to manage my spendings and profits.
The percentage in my Futures wallet is for trading for the day, after trading and getting profits, I split again and transfer some to my Funding section.
With this, I won't trade more than I budgeted for the day. If I trade in loss, the account stays that way till next day then I split funds again.
My daily Futures balance depends on what I am willing to lose in that particular day.
My funding section serves as my bank account if I need to deposit to Futures.
Also, when the amount in Funding section is smiling, I withdraw to my bank to smile better😂
In summary, learn to manage your spendings on trades. This will help you build a better trading life and also keep you far from blowing your trading accounts.
The image attached shows amount split between Funding wallet and Futures wallet.