Risk Management is not solely about cutting losses. 1. Set y...
Risk Management is not solely about cutting losses.
1. Set your RR, Stop Loss & Gain before entering a trade. Stick to this plan, DO NOT deviate from it due to Fear/Greed.
1. Set your RR, Stop Loss & Gain before entering a trade. Stick to this plan, DO NOT deviate from it due to Fear/Greed.
2. RM is about psychology too.
- Don't jump into trade, FOMO.
- Chase a trade after huge loss
If u r not mentally prepared for trading, 90% u will burned out in a few months.
- Don't jump into trade, FOMO.
- Chase a trade after huge loss
If u r not mentally prepared for trading, 90% u will burned out in a few months.
3. Do Not...
- Jump to live trade after learning a few strategies online or YT. Do your DD, test out the strategies on paper trade.
- Follow the gut instinct of others comment.
- Thinking today is my Lucky day, placing >50% of ur account in 1 trade.
- Double up after losing a trade without SL.
- etc
- Jump to live trade after learning a few strategies online or YT. Do your DD, test out the strategies on paper trade.
- Follow the gut instinct of others comment.
- Thinking today is my Lucky day, placing >50% of ur account in 1 trade.
- Double up after losing a trade without SL.
- etc
My point is ... Never believe you can become an expert/winning trader in a few weeks/months.
It take a few of years of learning to just become consistent. (lot of emo/giving up along the ways)
Most consistent trader will loose ~40% of the time & still be profitable.
It take a few of years of learning to just become consistent. (lot of emo/giving up along the ways)
Most consistent trader will loose ~40% of the time & still be profitable.
I would compare trading as to scuba diving.
Scuba diving is a safe but also labelled as a dangerous sport.
SAFE - when u learn all the fundamental courses, both theories & practical. Clock your dive logs consistently. And most importantly, know your gears & maintain them well.
DANGEROUS - when u on a vacation & took a dive experience crash course.
U learn everything in a few hours & put on some wear out gears. Off u go on a boat for your 1st dive.
If u lucky, u will manage & see a few fishes. But if you r not, u will end floating on the water surface, face down.
Scuba diving is a safe but also labelled as a dangerous sport.
SAFE - when u learn all the fundamental courses, both theories & practical. Clock your dive logs consistently. And most importantly, know your gears & maintain them well.
DANGEROUS - when u on a vacation & took a dive experience crash course.
U learn everything in a few hours & put on some wear out gears. Off u go on a boat for your 1st dive.
If u lucky, u will manage & see a few fishes. But if you r not, u will end floating on the water surface, face down.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
kradic34 : Is it useful for novices to write duplicate disks?
SunBird : Well said!
SiaoSiao82 : Good
102372089 SunBird : well said
102837082 : nice
ph2046 : Thanks
Ong Ah Huat Ah : useful, thanks for sharing
101822696 : useful info
adw2121 : thanks for sharing. well said
Ganar Poco OP : Appreciate everyone took some time to read my little sharing. Hope u can extract some useful info from it. A Like on my post is very much appreciated. Thank you.
View more comments...