Hello Ladies and Gentlemen 👋
Well I think this Might Help Us🎉
CHECK OUT MY 7 GOLDEN CRITERIA ON HOW I MANAGE MY RISK TO STAY PROFITABLE ALL DAY.
🗣️NB:Not A Financial Advisor 👂
In order to avoid getting losses in futures trading and continue earning profit, the traders can apply the following techniques:
🔥Risk Management: To control the losses incurred in the trade a risk management technique such as stop-loss order must be implemented always. It helps an investor who is trading to cut losses and come out of the trading position if the pair moves to an unfavorable direction.
🦾Position Sizing: A common policy is to figure out how much of one's capital they wish to risk on a single position. Most experienced traders advice that for any one trade, risk should not be more than 1-2% of the overall account.
🧳Diversification: It's not wise to concentrate their entire capital on one type of a futures contract. Futures risk can be moderated through diversification and spread over a range of contracts.
🌝Stay Informed: One should not only keep watching the screens but see the news which is influencing the prices of the futures contracts he is buying or selling. Some of the factors which affect the price include; Economic indicators, Geopolitical or war factors, Seasonal trends and factors.
🌈Develop a Trading Plan: There should be a detailed trading plan where all the strategies including entry, stop loss or exit positions and profit taking should be clearly outlined with risk and money management strategies applied. This must be strictly followed to avoid emotional biases in trading.
🏹Use Technical Analysis: It’s important to recognize how to interpret the charts and include the technicals in your analysis of the trades. This will expedite the decision making process and make it less frustrating when considering making an investment.
🏆Wait: Patience is one of the keys of successful trading. Do not trade excessively, but wait for those situations that conform to your set strategy.$BTC #BinanceFuturesTips
