• 🧪 Always backtest first
    • You don’t know if your strategy works. You don’t want to lose money. Here’s a hack - just test your strategy with past empirical data first! If it works, put in real money. If it doesn’t work, find a new strategy that won’t lose money. Easiest way to avoid losing money.
  • 🚫 Do NOT risk your entire account
    • The maximum I risk per trade is 1-2% of my entire account value. I put my absolute stop at 4% per day. Without a clear boundary set, I’d keep trading until I blow my entire account in a day. Don’t do that!
  • 💪 Control your emotions
    • Respect stop loss and take profit. Don’t be hasty and sell early. Studies show most people are more likely to hold on to losing assets than winning ones, which is why most people fail.
    • Don’t revenge trade. Take a step back and think - is this a perfect setup or should I wait for one? Never get into a position just because of FOMO - fear of missing out. Don’t let the prospect of money drive your emotions.
  • 📈 Focus on wins
    • Wins happen when you’re doing something right. Focus on what you did and replicate that in the future. Don’t let losses discourage you from trying again. Persistence and a positive attitude are the key traits that drive success.
  • 🏋️ My personal helpful habits
    • ✏️ Always journal. Good trade, bad trade, always write it down for future reference. You can never document too many things.
    • ⏱️ Be patient. Wait for the right setup to come to you - don’t go chasing after “feelings” or random intuitions. Have good reasons when you take a trade.
    • 💤 Sleep well. I react and think quicker when I’m on at least 6 hours and 44 minutes (my average time asleep) per night. I like to take some caffeine too to help me focus.
    • 📅 Focus on a specific time period. Don’t trade 24 hours a day, pick a few hours that work for you and focus on how price moves during that time.
    • 👩‍🎓 Learn as much as possible. If you don’t understand why your trade failed, backtest or watch enough videos until you do. Understand all parts of your strategy thoroughly, including any technical terms involved.