3 strikes and you’re out!
Do you stick to these rules?
We certainly do...The significance of knowing when enough is enough is often over looked, but if you set up rules and stick to them you will find yourself protecting your capital a lot better then those who don’t set rules.
Our rules are as follows, if we lose 3 trades in a day, we stop trading until the next day.
We do the same if we lose more then 10% in a day.
If you don’t do this, your trading Career will NOT last long, and it will soon turn into a gambling career.
You will find yourself “revenge” trading, this is trading when your sole purpose of doing so is to get back your lost money.
This will cause you to shy away from your trading plan (rules) and that’s the last thing you want!
@CryptoTrades #education #riskmanagement #revengetrading #tradingplan #mindset #crypto #winningstrategy
Do you stick to these rules?
We certainly do...The significance of knowing when enough is enough is often over looked, but if you set up rules and stick to them you will find yourself protecting your capital a lot better then those who don’t set rules.
Our rules are as follows, if we lose 3 trades in a day, we stop trading until the next day.
We do the same if we lose more then 10% in a day.
If you don’t do this, your trading Career will NOT last long, and it will soon turn into a gambling career.
You will find yourself “revenge” trading, this is trading when your sole purpose of doing so is to get back your lost money.
This will cause you to shy away from your trading plan (rules) and that’s the last thing you want!
@CryptoTrades #education #riskmanagement #revengetrading #tradingplan #mindset #crypto #winningstrategy