1. Do not make many trades in one day if you are trading hands. Each subsequent trade will have an emotional impact on the next and gradually the quality of decisions will inevitably drop. + fatigue.
2. Do not take the loss to devastating levels, it is better to just accept it. If you do not limit losses, sooner or later you will face the fact that the price did not turn in your direction and this day and the next days, and the loss destroys the deposit.
3. Do not regret losses – it will not help you to earn. Analyze and understand the reasons – it is useful. To regret is a waste of time.
4. Open and close deals in parts. Sometimes you want to enter a trade with a large volume or exit quickly with a profit. Rarely entering and exiting on the whole volume will be the right decision, because nobody knows how to make accurate predictions about the market. So more often your results will be better if you close and open a trade in installments. + Save your nerves, because it is emotionally easier to make a decision on one part of the position.
5. If you entered a trade with too much volume due to emotion or by mistake, close the trade or reduce the volume as soon as you notice it. More often than not, it will not end well.
6. Keeping a deposit is more important than making money. And often more difficult.
7. It is important to persevere through a series of unsuccessful trades. There will always be opportunities in the market. The better you know how to support yourself, or find someone who can support you, the less likely you are to start playing a destructive game of “I want to get even”.
8. If you choose the averaging path, you must plan to increase your position when the price does not move in your direction. Otherwise, you simply can’t take the loss and will dig yourself into a deeper hole. Unplanned averaging may end up in profit many times, but one bad time is enough to ruin your investment.
9. Do not regret lost profits. This is unhelpful and leads to future emotional decisions and FOMO. The same goes for regretting entering a trade with too little volume. The price could have gone against you and you would have lost more.
10. If you are going to enter a strong advance, do so on a pullback or when an important level is broken. It is important to have a probabilistic advantage in the market, and getting in with everyone else in some growing assets without clear guidelines is exactly what big capital expects you to do.
