Risk Management

[MattyMoney]

@EmeraldEyes

The key is keeping the initial position very small, so that a 3rd or 4th reentry would be considered a normal trade amount.

I do like this approach, but it takes a lot of patience, especially on the higher TF’s like daily charts.

@Emi.s

Before you enter a trade, you need to plan your exit strategy in advance, like setting stop-loss orders, choosing the right position size, or using protective options, so you can quickly react and protect yourself if the market moves against you.

For most, especially beginners, this is simple, solid advice,