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Hurry up and join our VIP premium to make your dreams come true and even tho you don't have up to the amount of money as a beginner then contact our admin we actually gives chances and discount to favour our dear subscribers 🤝👍
In trading, it is very easy to get lost in the game.
Here are 5 common habits that might help in limiting your risk exposure 💥
⠀
1. Double, triple, even quadruple-check your orders
⠀
Electronic trading has made it very easy for traders to execute trades. However, because of the ease and simplicity of electronic online trading, the chances of erroneous commands also rise significantly.
⠀
Having a well-thought-out trading plan would be useless if you do not correctly input your orders.
⠀
In May 2010, the financial market experienced a huge crash due to a “fat finger” event.
⠀
A trader in a large trading firm mistakenly sold $16 billion worth of future contracts instead of just $16 million.
⠀
Other traders who saw the order thought that something big was about to happen, so they sold too.
⠀
This resulted in a collective intraday drop of $1 trillion in the U.S. equity market. Needless to say, the trading firm, as well as those holding on to stocks, lost a lot of money.
⠀
2. Take profit on your winning trades
⠀
Another commonly overlooked risk management practice is taking some of your profits off the table while the price action is still in your favor.
⠀
We know it’s tempting to ride a trend with a full position all the way to your profit target, but taking off a part of your position limits your exposure to potential volatility.
⠀
After all, the saying “The trend is your friend… until it ends” didn’t come from nothing, did it?
⠀
3. Take a step back from trading
Do you feel like you’re in a trading rut? Are your fundamental and technical analyses off more often that you’d like to admit?
⠀
If you said “yes” to these questions, then you probably just need to take a little time off from trading.
⠀
What’s good about staying away from the markets completely is that you’re not emotionally invested in any position.
This usually allows you to reset and see market themes and chart patterns from a renewed point of view. And sometimes, a break will help you realize what you did wrong in your last couple of trades.
Here are 5 common habits that might help in limiting your risk exposure 💥
⠀
1. Double, triple, even quadruple-check your orders
⠀
Electronic trading has made it very easy for traders to execute trades. However, because of the ease and simplicity of electronic online trading, the chances of erroneous commands also rise significantly.
⠀
Having a well-thought-out trading plan would be useless if you do not correctly input your orders.
⠀
In May 2010, the financial market experienced a huge crash due to a “fat finger” event.
⠀
A trader in a large trading firm mistakenly sold $16 billion worth of future contracts instead of just $16 million.
⠀
Other traders who saw the order thought that something big was about to happen, so they sold too.
⠀
This resulted in a collective intraday drop of $1 trillion in the U.S. equity market. Needless to say, the trading firm, as well as those holding on to stocks, lost a lot of money.
⠀
2. Take profit on your winning trades
⠀
Another commonly overlooked risk management practice is taking some of your profits off the table while the price action is still in your favor.
⠀
We know it’s tempting to ride a trend with a full position all the way to your profit target, but taking off a part of your position limits your exposure to potential volatility.
⠀
After all, the saying “The trend is your friend… until it ends” didn’t come from nothing, did it?
⠀
3. Take a step back from trading
Do you feel like you’re in a trading rut? Are your fundamental and technical analyses off more often that you’d like to admit?
⠀
If you said “yes” to these questions, then you probably just need to take a little time off from trading.
⠀
What’s good about staying away from the markets completely is that you’re not emotionally invested in any position.
This usually allows you to reset and see market themes and chart patterns from a renewed point of view. And sometimes, a break will help you realize what you did wrong in your last couple of trades.
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