True

🥷 Too many people treat trading like a casino🎰

Thats why they always LOSE money.

Trading is a BUSINESS. It thrives off systems and organization.

Heres how to trade like a business:

1️⃣ 𝗣𝗹𝗮𝗻𝗻𝗶𝗻𝗴

Just as businesses have clear objectives, set specific, measurable, and achievable trading goals.

Determine how much capital you can allocate to trading without jeopardizing your financial security.

Just as a business operates within set hours, establish a trading schedule.

2️⃣ 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁

Choose your marketsand specialize. Learn everything you can about these markets

Develop or adopt trading systems that suit your style and goals.

Just like a business tests a product, backtest and paper trade your strategies to refine them without risking real money.

3️⃣ 𝗘𝘅𝗲𝗰𝘂𝘁𝗶𝗼𝗻

Execution is not just about pressing the buy or sell button. It’s about following your trading plan with discipline.

Use technology to your advantage. Set up automated orders like stop losses and take profits to manage trades efficiently.

Document each trade diligently. This includes the rationale for the trade, execution details, and post-trade review.

4️⃣𝗥𝗶𝘀𝗸 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁

𝐑𝐢𝐬𝐤 𝐀𝐬𝐬𝐞𝐬𝐬𝐦𝐞𝐧𝐭: Identify the risks in each trade and overall market risks. Understand leverage, market volatility, and how economic events might impact your trades.

𝐒𝐞𝐭𝐭𝐢𝐧𝐠 𝐋𝐢𝐦𝐢𝐭𝐬: Establish how much of your capital you are willing to risk per trade (often a percentage of your total trading capital).

𝐃𝐢𝐯𝐞𝐫𝐬𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧: Avoid concentrating all your risk in one trade or market. Diversification can help spread and manage the risk.

𝐑𝐞𝐠𝐮𝐥𝐚𝐫 𝐑𝐞𝐯𝐢𝐞𝐰:: Regularly review your risk management strategies to ensure they align with current market conditions and your trading performance.