Trade without SL and TP = empty pocket
Open the trade and leave your phone? This is the biggest mistake.
Stop Loss: Your shield. If you lose 2%, exit. Control your emotions.
Take Profit: Your target. It will prevent you from going from 50% down to 0% due to greed.
How do you set it?
Entry If it’s 1.12, set SL 1.10 and TP 1.16. Risk:Reward 1:2.
With 100x leverage, SL is a must. Otherwise, one wick can end the account.
Before every trade, set these 2 things, then go to sleep. Profit will come to the bank by itself.
#TradingStrategy #SLTP #Binance