-Make limiting your drawdowns in capital your number one priority, not your profits. it's much easier to be profitable when you don't lose a lot of money.
-Never lose more than 2% of your total trading capital on any single trade.
-Do not over expose your account to too many positions that are all closely correlated to the same trend.
-Only take your highest probability entry singles.
-Only trade one to three open position at a time, so even big whipsaws in price action do not damage your account too much.
-Only risk a small percentage of your trading bankroll, so that you can survive your losing streaks.
-Only trade markets you are very familiar with, and have done excessive research on with charts and backtests.
-Trade only a method you fully understand, and do not piggy back on another trader.
-Do not become biased as a bull or a bear be open minded to what the markets and signals saying about the current trend.
Also check out my related Ideas, cheers !
in the comments
if u are , do not trade that one [ this has saved me a few times !
money management ,
get out of the losers quicker [ still learning this with the above problem
there are other winners out there , you can switch ur trades to these ! [ this reminder helps me cut losers and go for the winners !