💭 How do you manage your open trades wisely? (Control and flexibility at the same time)
💡 Opening a trade is the easy part, but managing it is what distinguishes a smart trader from a random one. Here’s how to confidently and professionally control your open trades:
1. Don't accidentally become a long-term trader:
If the market reverses its direction, don’t cling to the trade hoping for it to "come back". Your plan should include a stop loss in advance.
2. Watch the price… don’t get attached to it:
Consciously observe price movements, not emotionally. Don’t let profits numb you and don’t let losses confuse you.
3. Use trailing stop losses:
This tool protects your profits and makes smart exits automatic.
4. Take partial profits:
It's okay to partially exit a trade when certain targets are achieved, leaving the rest for bigger opportunities.
5. Stick to the plan and don’t chase the market:
Reassess only if new, genuine data emerges, not based on your "feelings".
💡 Smart trade management can mean the difference between an ordinary trade and a golden trade.
#SmartTrades #CryptoStrategy #BTCvsMarkets #BinanceFeed #MindfulTrading
The next lesson:
🎁 How do you build a daily trading routine that continuously develops you?
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