Here is a summary of the tips that distinguish the professional trader, categorized for easier comprehension:
• Do not risk what you cannot afford to lose: Never trade with rent money or living expenses. Trading requires a clear mind, not psychological pressure.
• The 1% Rule: Do not risk more than 1% to 2% of your total account on a single trade. If the market turns against you, you will still be able to come back.
• Use a "Stop Loss" order: It is your safety belt. A trader who does not set a stop loss is someone waiting for their account to be "zeroed" sooner or later.
2. The Action Strategy (Plan)
• Avoid "distraction": Do not try to learn 10 strategies at once. Choose one (like support and resistance, or supply and demand) and master it.
• Trade with the trend: As they say in the market, "The Trend is your friend." Going against the trend requires a lot of experience and double the risk.
• Quality over quantity: One well-thought-out trade is better than 10 trades based on "gut feeling" or haste.
3. Psychology and Self-Control
• Kill the "FOMO": The fear of missing out is the biggest enemy. If you miss a strong price movement, do not chase it; the market opens every day, and its opportunities are endless.
• Do not risk what you cannot afford to lose: Never trade with rent money or living expenses. Trading requires a clear mind, not psychological pressure.
• The 1% Rule: Do not risk more than 1% to 2% of your total account on a single trade. If the market turns against you, you will still be able to come back.
• Use a "Stop Loss" order: It is your safety belt. A trader who does not set a stop loss is someone waiting for their account to be "zeroed" sooner or later.
2. The Action Strategy (Plan)
• Avoid "distraction": Do not try to learn 10 strategies at once. Choose one (like support and resistance, or supply and demand) and master it.
• Trade with the trend: As they say in the market, "The Trend is your friend." Going against the trend requires a lot of experience and double the risk.
• Quality over quantity: One well-thought-out trade is better than 10 trades based on "gut feeling" or haste.
3. Psychology and Self-Control
• Kill the "FOMO": The fear of missing out is the biggest enemy. If you miss a strong price movement, do not chase it; the market opens every day, and its opportunities are endless.