#HODLTradingStrategy Here's a breakdown of the rule:
3% Rule:
This limits the amount you can lose on a single trade. For example, if you have $10,000 to invest, you would not risk more than $300 on any single trade.
5% Rule:
This limits your total exposure to the market. If you have $10,000, you would avoid having more than $500 invested in total across all open positions.
7% Rule:
This sets a profit target for each trade. If you risk $300 on a trade, you would aim to make at least $21 in profit.
Why is it important?
Risk Management:
The 3-5-7 rule helps protect your capital by limiting potential losses on any single trade and across all trades.
Disciplined Trading:
It encourages traders to think strategically about risk and reward, promoting patience with profitable trades and decisive action on losing ones.
Potential for Profitability:
By aiming for a higher profit target than the potential loss, the rule can contribute to overall profitability over time, assuming you are successful in meeting your profit goals.
In essence, the 3-5-7 rule provides a framework for traders to manage their risk effectively, stay disciplined, and potentially improve their trading outcomes.