Take these factors into account before making your investments:
Entry and Exit Strategies: Define clear conditions for opening and closing trades. This is crucial to avoid improvisation.
Risk Management: Set limits on losses and gains to protect capital. This involves the use of Stop-Loss orders (automatic closure in case of losses) and Take-Profit orders (automatic closure when predetermined gains are reached).
Position Sizing: Determine the volume of a trade based on the specific risk you are willing to take, typically between 1-2% of the total capital per trade. This protects capital from significant drawdowns.
Reviews and Adjustments: Review and adjust the plan periodically as necessary to reflect progress and changes in market conditions.
