Let me drop the most important point: focus on survival first, then think about profit.
A lot of folks jump into the market hoping to double their stack, but they can't even last through one cycle. I’ve set some hard rules for myself; I gotta manage my positions, if I hit my stop loss, I’m out—no excuses, no stories.
Sounds conservative, but these rules have helped me dodge most of the major pitfalls over the years.
And one more thing, making money often comes from waiting, not over-trading.
I used to crank out over ten trades a day, busy as if I had a 9 to 5, only to realize my gains were less than the fees.
Now it’s way simpler: if I understand, I trade; if not, I wait.
Max two trades a day—after that, it’s likely just emotions taking over.
A lot of folks jump into the market hoping to double their stack, but they can't even last through one cycle. I’ve set some hard rules for myself; I gotta manage my positions, if I hit my stop loss, I’m out—no excuses, no stories.
Sounds conservative, but these rules have helped me dodge most of the major pitfalls over the years.
And one more thing, making money often comes from waiting, not over-trading.
I used to crank out over ten trades a day, busy as if I had a 9 to 5, only to realize my gains were less than the fees.
Now it’s way simpler: if I understand, I trade; if not, I wait.
Max two trades a day—after that, it’s likely just emotions taking over.