TIPS FOR PROFITABLE AND SAFE TRADING đ¨đ¨
1. Be ALERT: When you've made substantial profits, it's time to step back, relax, and enjoy life. Take a break, travel, and recharge. Secure your gains and don't let greed take over!
2. Identify the Root Cause: If you face continuous losses exceeding 10%, stop trading immediately. Analyze the reasons behind the losses and prevent further decline. Don't dig a deeper hole.
3. Act on Clear Signals: For short-term traders, only make moves when market signals are clear. Ambiguous opportunities often lead to losses. Understand the market before acting.
4. Avoid Chasing Surges: Don't chase assets that have surged over 50%. These scenarios often turn into traps. Stay cautious and don't follow the trend blindly.
5. Beware of High Trading Volumes: After a significant rally, high volumes might seem enticing, but they often serve as traps. Resist the urge to buy. A volume surge post-rally is usually a warning signal.
6. Buy Low, Wait for Pullbacks: Stability in trading comes from buying low during weak phases and waiting for pullbacks in strong phases. This strategy ensures balanced investments.
7. Confident Additions Only: Never add to your positions unless you're at least 90% confident in the market situation. Build positions in stages at lower levels to minimize risk.
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