According to the latest statistics, 99% of traders have forgotten their money management skills at least once. That’s why we decided to repeat this skill again.
1. Make a transaction for an amount not to exceed 3-5% of the deposit. If you are a beginner, just 1-2% is enough
You better move slowly but surely, rather than running fast but blind in the direction. Do not let the price paid for a mistake equal to your entire fund. Not even half. One third does not.
2. Determine the maximum profit and loss in one day
Once you reach one of these levels – stop. Why? Because great success or big losses cause strong emotions. And emotions are the big enemy of the trader. All of this results in the number 3 …
3. Stop trading when you lose control
If you realize that you start trading based on the “now I’m catching my luck” rule – shut down your computer now!
4. Start writing transaction log
It will help control the situation and analyze the error.
5.Do not invest all your personal money into the transaction
Even if this has become your main source of income.
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Wish you are a successful investor!