After entering a trade, the remaining task is to deal with and handle the market conditions. If you do these 3 things well, your trading will be problem-free.
The first thing is to minimize trial and error costs, simply put, it's to set a stop-loss level. By setting a stop-loss level, even if you encounter contrary market conditions, your trial and error cost, which is the position you set, can minimize losses;
The second thing is to preserve your principal. This is a measure to take when the overall market experiences contrary conditions. At this point, although the trade itself is still fine, the overall market environment has changed, and you need to take measures to exit because the environment has changed. It's very hard to remain unaffected, so preserving your principal is crucial. Even if the market recovers later, you can enter again; the safety of your principal comes first.
The third thing is to preserve profits. If there are no changes in the overall market conditions mentioned above, then hold according to your own logical rules. Wait for the situation to reverse before exiting, which allows you to obtain the most reasonable profit, noting that it's the most reasonable, not the maximum. Doing this allows the profits to run while ensuring a reasonable exit.
These are the 3 things you need to do after entering a trade. By repeating them, you can stabilize your profits with a high probability, of course, provided that you have an excellent set of trading rules. #币安Alpha公布第5批项目