### Essential Trading Skills to Develop Before Entering the Market

**๐Ÿง  Mindset Over Mechanics**

- Trading is 90% psychology and only 10% skill and analysis.

- Develop a traderโ€™s mindset. For a deep dive into trading psychology, read *Trading in the Zone* by Mark Douglas.

**๐Ÿ’ช Own Your Decisions**

- Take responsibility for your actions regardless of the outcome.

- If you lose money, it's on youโ€”not the market. The decision to buy or sell is entirely yours.

- Blaming whales or market manipulators is a cop-out.

**๐Ÿ›ก๏ธ Master Risk Management**

- Limit your risk to 1%-3% of your total capital based on your risk tolerance.

- This approach ensures sustainability. Remember, trading is a marathon, not a sprint. Chasing instant profits is akin to gambling, and we know what happens to gamblers in the long run.

**๐Ÿšจ Use Stop-Loss Orders**

- Using stop-loss orders is non-negotiable. Avoid the risk of liquidation by setting clear stop-losses.

**๐Ÿ“Š Position Sizing**

- Calculate the right position size based on your risk parameters.

- Proper risk and position sizing are more important than leverage. Ensure your liquidation price is outside your stop-loss, making leverage secondary.

### **Final Thoughts**

Focus on proper risk management and position sizing to navigate the market effectively.

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