Most new traders focus on how much they can make. Successful traders focus on how much they can lose.
If you want to survive in this bull run, you must master Risk Management. Here is the 3-step rule I use:
The 2% Rule: Never risk more than 1-2% of your total portfolio on a single trade. Even if you lose 5 trades in a row, your portfolio is still alive.
Stop Losses are Non-Negotiable: A mental stop loss is not enough. Set hard stops on the chart. The market doesn't care about your "feelings."
Take Profits: No one ever went broke taking a profit. Don't let a winning trade turn into a losing one because of greed.
Summary: Preserve your capital first. Grow it second.
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