Whether you are new to this circle or not, without proper position management, it's only a matter of time before you blow your account.
How can you manage your positions well? Firstly, suppose you have an account with 1000 oil, and your daily plan is to make a profit of 200 oil. Now, if a good entry signal appears, you plan to use a certain percentage of your position for this trade and plan your acceptable loss percentage.
Now let me simulate my trading method. For reference: there is a good entry signal K-line, the price is 3. I plan to enter with 100 oil, which is 10% of my position. If it rises to 4, I double it, but my target profit is 200 oil, so it must rise to 5. Once the profit is secured (of course, this doesn't mean you should hold indefinitely; if it stops rising, you will actually incur a loss, wouldn't that be foolish?), then we consider the loss. My risk tolerance is at 5% of my position; if the price drops to 2.5, I exit. Isn't it simple? How many people can actually do this? The larger the position you can accept for losses, the further the stop-loss point will be. But it is essential that the profit from your trades is greater than the losses for them to be meaningful.
When you plan each trade well, and set take profit and stop loss for every order, your psychological concerns will dissipate.
If you still don't understand, like + comment 5. By following the positions and managing them, you'll have a sudden realization.
Hang out with God A, and eat four meals a day.#加密ETF申请热潮涌现 #GMT热度飙升 #币安Alpha公布第8批项目 $AST $MDT $STEEM
