The best trade management advice is “don’t push too hard”. It sounds simple, but it means a lot!

1. Don’t set your stop too close. Unless you are sure that your entry is accurate or the trading conditions are very clear, give yourself some room for error. Especially if you are trading leveraged small currencies, be prepared for price fluctuations even at the so-called optimal position.

2. Don’t be too impatient and anxious! If you are still a long way from your set target or the conditions that determine the trade is invalid, don’t worry about the small fluctuations in the middle!

The market may consolidate nearby first. Give the market and yourself some time, maybe you can seize more opportunities.

3. Remember that over-management is often a sign of over-trading. If you find yourself staring at the profit and loss statement and 1-minute chart all day, accompanied by anxiety and regret, it means that you have invested too much money in trades with unknown risks.

The potential threat of huge losses will make you anxious and impatient, leading to irrational trading decisions. Try to simplify, slow down, and use less money to make smarter trades.

4. Don’t be superstitious about moving trades to break-even. This does not mean that trading is risk-free. The risk is that you may be stopped out of the trade, which should have been profitable.

If you find that your trades often break even, then your account may be eroded bit by bit. Unless there are special circumstances, such as you are sure that once this trade goes in the right direction, it will not turn back, otherwise do not easily pursue moving the trade to the break-even point.