7 relevant unevitable day trader duty
1. Set Take Profit: Always define your profit target before entering a trade. Locking in gains is key.
2. Use Stop Loss: Protect your capital by setting a stop loss to minimize potential losses.
3. Practice Risk Management: Never risk more than a small percentage of your capital on a single trade.
4. Stick to Fixed Trades: Have a predetermined number of trades per day to avoid overtrading.
5. Don't FOMO: Fear of missing out can lead to poor decisions. Stick to your strategy.
6. Avoid Overtrading: Taking too many trades in a day often results in losses. Quality over quantity.
7. Don’t Chase Trends: Wait for confirmation rather than entering late into a trend.
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