๐ฅ How to Become a Successful Trader ๐ฅ
Secure Partial Profits at TP 1
Always book 30% to 50% of your position at Target Point 1 (TP 1)โchoose based on your strategy.
Protect Your Capital
Once TP 1 is hit, move your Stop Loss to Entry (Break Even). This ensures a no-loss, no-profit scenario at worst.
Keep a Safe Distance from Liquidation
Ensure your liquidation price is well below your stop loss. If not, reduce leverageโpreferably use 3x, 5x, or 10x max.
Risk Management is Key
Only use up to 5% of your total capital per trade. Invest only what you can afford to lose.
Profit Booking Strategy
TP 1: Close 40% of your position, set Stop Loss at entry.
TP2: Close 20%, move SL to TP1.
TP3: Close 20%, move SL to TP2.
TP4: Close remaining 20%, move SL to TP3.
No Re-Entry After Targets Hit
Once the final target is hit, the trade is considered complete. Do not re-enter.
Disclaimer
I am not a financial advisor. Always do your own research before investing.
