#MyTradingStyle Strict Risk Management (The Essence of Success):
Position Size: I never allocate more than a small percentage of my total capital to a single trade. The rule "no more than X% of capital at risk" is sacred.
Defined Stop Loss: Each trade has a predefined stop loss. Before entering, I know exactly where I will exit if the market goes against me. This protects capital and eliminates the emotion of decision-making.
Scaled Take Profit: Instead of a single profit target, I aim to realize profits in stages. I sell a portion of the position at intermediate targets to secure gains and leave a portion for greater potential upside.
Diversification: I avoid concentrating all capital in a few assets. I diversify across different sectors of the crypto market to reduce risk.
Reserve Capital: I keep a significant portion of my portfolio in stablecoins (like USDC) to capitalize on opportunities during market downturns or to have immediate liquidity.