1️⃣ Stick to the "2% Rule": Limit each trade to no more than 2% of your trading account. This helps safeguard your capital from substantial losses.
2️⃣ Adjust Stop-Loss Based on Market Volatility: Tailor your stop-loss levels according to market conditions—wider stops in volatile markets and narrower ones in steadier conditions.
3️⃣ Use Laddered Entries & Exits: Enter and exit positions incrementally rather than all at once. This approach reduces risk and enhances potential rewards.
4️⃣ Set Price Alerts: Establish alerts for important price points to stay informed and act quickly when opportunities arise.
5️⃣ Conduct Thorough Backtesting: Include realistic slippage and transaction fees in your backtesting to better gauge potential returns.
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