~Mastering Trading Discipline~
Self-discipline is crucial for successful trading, enabling you to stay focused and avoid impulsive decisions. Knowing when to enter and exit trades, especially cutting losses early, can protect your portfolio from significant damage.
Risk Management Tools
To manage emotions and reduce risk, traders use:
1. •Stop-Loss (SL) Orders•: Automatically sell a crypto asset when its price drops to a certain level, limiting losses.
2. •Take-Profit (TP) Orders•: Automatically sell an asset when it reaches a predetermined price target, securing profits.