$BTC
ð Simple Trading Rules for Smarter Profits! ð
Hey everyone! Ready to boost your trading game? Here are the core principles I follow to navigate the markets on Binance, focusing on protecting my capital while chasing opportunities.
ðĄïļ Risk Management First!
This is the bedrock of successful trading. Don't skip these!
ð Protect Your Capital: 2-3% Rule
* NEVER risk more than 2-3% of your total portfolio on any single trade. If a trade goes south (hits Stop Loss or gets liquidated), you'll only lose a tiny fraction of your funds.
* Example: Got $1000? Only put $20-$30 into one trade. This keeps 97-98% of your money safe and sound, ready for the next opportunity.
ð Lock in Gains: Partial Profits
* Once a trade hits Target 2 or 3, take profits on about 70% of your position. This secures your gains!
* For the remaining 30%, immediately move your Stop Loss (SL) to your entry price. This makes the rest of the trade "risk-free" â you can't lose money on it.
ð Automate Your Strategy: TP, SL, DCA
* Always use Take Profit (TP) to automatically secure gains, and Stop Loss (SL) to limit potential losses. These are your best friends in volatile markets.
* Consider Dollar-Cost Averaging (DCA): Buying in parts if the price dips to improve your average entry, but always use it cautiously, especially with leverage.
* No Losses on Winning Trades: Move SL to ð Entry
* After your trade hits Target 2 or 3, shift your Stop Loss to your original entry price. This ensures that even if the market reverses, you walk away without a loss on that trade.
