đ„· Too many people treat trading like a casinođ°
Thats why they always LOSE money.
Trading is a BUSINESS. It thrives off systems and organization.
Heres how to trade like a business:
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Just as businesses have clear objectives, set specific, measurable, and achievable trading goals.
Determine how much capital you can allocate to trading without jeopardizing your financial security.
Just as a business operates within set hours, establish a trading schedule.
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Choose your marketsand specialize. Learn everything you can about these markets
Develop or adopt trading systems that suit your style and goals.
Just like a business tests a product, backtest and paper trade your strategies to refine them without risking real money.
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Execution is not just about pressing the buy or sell button. Itâs about following your trading plan with discipline.
Use technology to your advantage. Set up automated orders like stop losses and take profits to manage trades efficiently.
Document each trade diligently. This includes the rationale for the trade, execution details, and post-trade review.
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đđąđŹđ€ đđŹđŹđđŹđŹđŠđđ§đ: Identify the risks in each trade and overall market risks. Understand leverage, market volatility, and how economic events might impact your trades.
đđđđđąđ§đ đđąđŠđąđđŹ: Establish how much of your capital you are willing to risk per trade (often a percentage of your total trading capital).
đđąđŻđđ«đŹđąđđąđđđđąđšđ§: Avoid concentrating all your risk in one trade or market. Diversification can help spread and manage the risk.
đđđ đźđ„đđ« đđđŻđąđđ°:: Regularly review your risk management strategies to ensure they align with current market conditions and your trading performance.