your leverage is too high because only 38.05 to 38.7 means 7 | Khandaafghan on Binance Square

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your leverage is too high because only 38.05 to 38.7 means 70 cents so this is very risky for new trader 

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Controlling emotions in trading :- 1. Develop a Trading Plan: Create a well-defined trading plan that outlines your entry and exit points, risk tolerance, and profit targets. Having a plan in place can help you stick to a strategy and reduce emotional reactions. 2. Set Stop-Loss Orders: Implement stop-loss orders to limit potential losses. This allows you to define how much you are willing to risk on a trade in advance, reducing the emotional impact of price fluctuations. 3. Start with a Demo Account: If you're new to trading or a particular strategy, practice with a demo account first. This helps you gain experience without risking real money, reducing emotional pressure. 4. Risk Management: Only trade with funds you can afford to lose. This mindset can help you trade more calmly, knowing that you won't jeopardize your financial well-being. 6. Maintain Discipline: Stick to your trading plan and strategy, even when emotions tempt you to deviate. Avoid chasing losses or making impulsive decisions. 8. Limit Screen Time: Excessive monitoring of price movements can lead to impulsive decisions. Set specific times to check the markets, and avoid constant updates. 9. Practice Mindfulness: Techniques like meditation or mindfulness exercises can help you stay calm and focused, reducing emotional reactions during trading. 10. Keep a Trading Journal: Record your trades and emotions associated with each one. This can help you identify patterns and triggers for emotional responses. 11. Take Breaks: Step away from the trading screen when feeling overwhelmed or overly emotional. A brief break can provide a fresh perspective. 12. Accept That Losses Happen: Understand that losses are a part of trading. Accepting this fact can reduce the emotional impact of losing trades. Controlling emotions in trading takes practice and self-awareness. It's essential to acknowledge your emotions and work on managing them to make rational and well-informed decisions in the cryptocurrency markets or any other trading arena. #emotion #control

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