Five rules to become a profitable trader ๐ธ
โข Establish a risk level you're comfortable with. If losing all your trading capital will be a disaster, it means your stakes are too high, cut it ๐
โข Master the art of doing nothing. Sometimes, the smartest traders are the ones who stay on the sidelines, analyzing the market and waiting for the perfect setup instead of forcing trades.
โข Set realistic, achievable goals. While everyone dreams of hitting that one jackpot trade, focusing on steady, smaller gains is much more reliable ๐
โข Stick to what you understand. Rather than chasing hype, focus on assets you know well โ ones where you understand the market dynamics and can anticipate price movements.
โข Utilize Stop Loss and Take Profit.ย Setting limits on your trades will help you avoid emotional decisions, ensuring you lock in profits and minimize losses without hesitation ๐ฏ
