The Art of Risk Management at Binance | How to Protect Your Capital from Loss
Golden Advice:
Peace be upon you and God's mercy and blessings, Happy Friday 🌸
In today's lesson from the Binance trading series, we will discuss the most important rule for a successful trader: risk management.
🔑 Key Points:
1. Do not risk more than 1%-3% of your capital on a trade, no matter how tempting it may be.
2. Set your Stop Loss before entering, and do not change it out of emotion.
3. Divide your capital: part for short-term trading, and part for long-term investment.
4. Stick to the plan; the market always offers opportunities, but if your capital is lost, it doesn't come back easily.
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