**BEFORE YOU START TRADING, KEEP THESE ESSENTIAL RULES IN MIND!**
Here are the critical guidelines to ensure long-term success in the market:
๐น **1. Don't Invest Beyond Your Means**
- Invest only what you can afford to lose. Your investment should be a manageable amount that won't ruin your life if lost. Avoid going all in.
๐น **2. Practice Thoroughly Before Trading**
- Watch live charts, mark your levels, and paper trade. Once confident, trade spot for a while before moving to leverage/futures. Using leverage without spot experience is risky.
๐น **3. Capital Preservation is Key**
- Use Stop Loss and Risk Management effectively. These tools are more complex than they seem. Study and understand them before trading.
๐น **4. Trade with the Trend**
- Avoid fighting the market trend. Use weekly time frames and the 50-day moving average to identify trends. Trade in the marketโs direction.
๐น **5. Focus on Profits, Not Assets**
- Donโt get emotionally attached to any coin or stock. Aim to buy low and sell high. Trade the chart, not your emotions.
๐น **6. Be Decisive, Not Hopeful**
- Don't pray for trades to go your way. If a trade goes against you, exit quickly and start fresh. Cut your losses early.
๐น **7. Plan Your Trades Meticulously**
- Donโt trade without a clear plan for entry, exit, and invalidation points. Rely on your strategy, not others' opinions.
๐น **8. Simplify Your Trading Tools**
- Trading doesnโt require complicated tools or multiple monitors. Focus on a solid plan, manage position size, and exit on invalidation.
๐น **9. Learn by Doing**
- Trade frequently to gain experience. Follow the trend and test your methods in real market conditions. Practice makes perfect.
๐น **10. Trading is Highly Rewarding**
- With discipline and strategy, trading can be one of the most rewarding professions.
๐ข **Stay Smart, Stay Safe!**
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