5 golden rules that will help you preserve your deposit! 💰🔥
1️⃣ Master risk management — Never risk more than you can afford to lose. This is the main principle that will protect you from significant losses and help you stay in the game even during unfavorable market movements.
2️⃣ Always use a stop-loss (SL) — Set a stop-loss before entering a trade to protect your capital from sharp declines. This is your shield that will activate if the market goes against you.
3️⃣ Plan your trades in advance — Know your exact entry levels, take-profit (TP), and stop-loss (SL) before opening a position. A clear plan will help avoid impulsive decisions and reduce the influence of emotions.
4️⃣ Don’t chase pumps and sharp rises — Often, after a rapid increase, a correction follows. It’s better to wait for a price pullback to enter at a more favorable price. Remember: the market should come to you, not the other way around.
5️⃣ Stay disciplined and stick to the plan — Emotions are a trader's main enemy. Even if the market seems very profitable, adhere to your strategy and do not give in to greed or fear.
