GUYS MUST READ ☠️
I'm sharing my perspective as a trader to provide guidance and clarity. Here are some key points to consider:
- Mindset matters: Trading is largely psychological, so developing a trader's mindset is essential. I recommend "Trading in the Zone" by Mark Douglas for insight.
- Take ownership: Accept responsibility for your trading decisions and outcomes. Don't blame external factors; the market doesn't dictate your choices.
- Manage risk effectively: Limit risk to 1-3% of your capital, based on your tolerance. Prioritize sustainability over rapid profits.
- Use stop-loss orders: Protect your positions with stop-losses to avoid liquidation.
- Master position sizing: Calculate appropriate position sizes based on risk parameters.
In summary, focus on risk management and position sizing to navigate the market successfully.
DYOR/ NFA
