Today, we will discuss some key things that every trader should know from the beginning. Keeping these things in mind and avoiding common mistakes can save you a lot of money. And, In trading, saving money is no less important than winning a new trade. Most of the good traders don’t have a very high win percentage.
It’s usually between 50-60%, but they preserve their capital, which is how their portfolio continues to grow. After taking profits, a cooldown period is crucial for preserving capital.
We are going to discuss a few things that should always be on a trader’s mind.
1. To know when not to trade: Being able to sit on the sidelines and wait for a high-probability setup is a mark of a disciplined trader. This is a very important thing a trader should know. As a trader, it’s crucial to figure out when to trade and when not to trade. There are times when the market ruthlessly takes money from most people, regardless of whether you’re long or short. The price is ranging without clear trends or lacks liquidity. During these periods, trading becomes riskier, and the chances of successful trades decrease. In these unfavourable conditions,
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Creating freedom through Crypto as a Community
2 Responses
I need to be better at all of these things. Thanks Mr Wolf.