💡 Trading Tips to Remember: #TraderEducation
Stay Smart: Always look for the right entry based on solid technical analysis.
Avoid FOMO: Don’t chase tokens at their peak; wait for pullbacks or confirmation signals.
Be Patient: There are plenty of opportunities ahead with tokens yet to break out.
🔹 Suggested Strategy:
1. Entry Criteria: Use confirmation indicators like bullish engulfing candles, breakouts above resistance, or retests of key support levels.
2. Position Size: Allocate 2-5% of your portfolio per trade to manage risk.
3. Stop Loss Placement: Below recent swing lows or a fixed percentage of your capital.
4. Profit-Taking:
TP1: Partial profit at the first resistance level.
TP2: Move stop loss to breakeven and let profits ride.
5. Risk Management: Always have a clear plan before entering a trade. Adjust stop losses and take profits based on market conditions.
⚠️ Important Reminder:
Set your entry and take profit orders to lock in gains and manage risks.
Volatility Alert: Expect market fluctuations; ensure tight risk management is in place.
Stay safe, trade wisely, and let’s keep the momentum going! 🚀