How to make profit in futures trading
1) Wallet Management
I always manage my wallet between my trades. With a wallet balance of $50,000, I use $2,000 per trade with 10x leverage.
2) Trade Limitation
I never open more than 3 trades at a time. I mostly take scalp trades and trade based on my analysis on the 5 minute and 15 minute charts.
3) Risk Management
I use stop loss and take profit on every trade. If the trade goes into a loss, I quickly exit when my analysis is proven wrong. I book profit in segments and place stop loss at entry point.
4) Emotional Control
I never over trade or trade with emotion. After losing $7,000 in 2 days I persevere and take trades again, making a $10,000 profit the following week.
5) Order Types
I never use limit orders, always trade at market price because limit orders can be risky at times.
