How do I set a stop loss and profit each trade well?

You need a risk management strategy

Step 1: Set a stop loss

- Do not risk more than 1-2% of your capital in a single trade.

- Example: If your capital is $10,000, set a stop loss between $100-200.

2. Set a target profit:

- Target a profit-to-loss ratio between 1:2 and 1:3.

- Example: If your stop loss is $100, set a target profit between $200-300.

3. Use technical analysis:

- Set support and resistance levels to accurately set your stop loss and target profit.

Most importantly

- Set your stop loss below a strong support level to reduce the possibility of it being triggered by non-essential price movements.

- Set your target profit at a strong resistance level.

With these steps, you manage risks effectively and increase your chances of achieving sustainable profits.