Why should the maximum size of transactions, profits and losses be determined?
It’s simple: You need to control your finances. Control is the key in the Binomo deal. By determining how much you can earn and lose, you will reduce the risk of dealing with emotions and increase your chance of success.
If you are just starting out, the safest solution for you is to only trade 1-3% of your account balance.
If you have experience, you should not exceed 5% of the amount in the account.
Why so little transaction? By closing small transactions, you will protect your capital from losses. If you lose 10 times in a row, you can still rotate the situation after analyzing the mistakes you have made.
To Professional traders rarely raise more than 15% per day. You do not have to calculate everything by percentage: initially earn $ 10- $ 15. As you have more experience, you can increase your profits.
To Even when you are trading very well, stop when you reach the target. Feeling excited can knock you down like negative emotions. Typically, when a trader feels overprotective, he or she will lose control and start trading without careful consideration. Do not let yourself be guilty, take action plan!
There are two ways to determine a stop: determine the total loss or total loss. In fact, these two ways are not much different, so choose how you want.
Many people choose the following strategy. If they lose 5 times in a row, they will reduce the bet amount and continue trading. If the situation is not positive, they will not continue trading that day.
Similarly, the same applies to the amount of damage: if losing 10% of the account balance, reduce the size of transactions and transactions more carefully. If the situation is not better, analyze the errors and get ready for a new trading day.
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Wish you are a successful investor!