Here are some important points to ensure risk management resulting profitable trade 👇
1. Consider using 2-3% of your wallet , to limit exposure.
2. Consider using trailing stops to lock in profits as the trade moves in your favor.
3. Establish a risk-reward ratio for each trade, such as 1:2 or 1:3, to ensure potential gains outweigh potential losses.
4. Avoid over-concentration in a single market or instrument.
5. Stay up-to-date with market news and events that may impact trade performance.
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