🔊I would like to talk a little about money management and risk management. 🙌🏻That’s very important in trading. Because trading isn’t only psychology. 🙅🏻♀️Your financial result depends on how competently you can manage your available capital💸.
🤜🏻Risk management - determining the maximum position volume in a transaction and the maximum stop value.
📌 Never enter the market with one position on all available capital.
The most common money management tactics:
⭐ trade in all capital ⭐ fixed lot ⭐ fixed percentage ⭐ optimal percentage ⭐ safe percentage ⭐ fixed proportion
👌🏻But no matter what money management tactics you choose, the essence will still the same - you should always consider your risks (the amount, that you will lose in transaction). If you entered the market, you should always put stop loss, and keep in mind the price level after which you MUST exit. ( How correctly put stop loss – click here )
📌You’ll win only when the average value of your profits will be higher than the average value of your losses. ✔That’s the concept of positive mathematical expectation✔
❣Do not worry about your losses❣
THE MOST IMPORTANT RULE IN THE MARKET: 🔴 DO NOT STOP!
🤜🏻Only with your mistakes you will learn to be successful.💋💋💋 And of course, 👉🏻don’t forget about improvement of your skills.💪🏻
😉Read my training posts and everything will be cool :)