Here are some risk management tips carefully prepared for you👇
Pay attention to price fluctuations: Always keep a close eye on price fluctuations and flexibly adjust your stop loss point according to the actual situation. Doing so will allow you to better grasp market dynamics and protect your investment.
Lock in profits: When the market trend is in your favor, you may consider using a trailing stop loss order to lock in part of the profit and ensure that the income is steadily pocketed.
Be cautious about covering positions: When facing a losing position, do not easily choose to cover a position to reduce the average cost. Although this approach is tempting, it is often accompanied by greater risks.
Continuously verify trading strategies: Based on new information from the market, constantly re-evaluate the effectiveness of your trading strategy. This can help you respond to market changes more flexibly.
Avoid over-trading: Stick to trading as planned every day or week, and don't make wrong decisions due to fatigue or impatience. A steady investment attitude is the key to success.
