Protect your account like a pro! Here’s a simple, effective risk management plan:
1. Risk Only 1-2% Per Trade: Keep each trade risk small, no more than 1-2% of your balance. This helps you stay in the game longer and avoid big losses. 2. Scale Down if You’re Losing: Hit a few losses? Lower your risk until you’re back on track. If you were risking 2%, try 1.5% and then 1% per trade to reduce potential losses. 3. Position Size Smartly: Calculate your position size by dividing your risk amount by the risk per coin. For example, if risking $100 on $DOGE , entry price is 0.4, stop loss is 0.3, you should only buy 1000 DOGE, no more, no less.
