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📈Looking to take a position? (i.e buy or sell an asset to make gains)
Apply this easy 3-step process to design a trading strategy that protects your money and helps you stay disciplined.
#OwnTheFuture
Apply this easy 3-step process to design a trading strategy that protects your money and helps you stay disciplined.
#OwnTheFuture
Step1⃣: Make a case for your choice
Know and understand your stock of choice.
Before you take a position, do your due diligence to identify 'why' you are buying said stock and what you hope to achieve.
Know and understand your stock of choice.
Before you take a position, do your due diligence to identify 'why' you are buying said stock and what you hope to achieve.
Step2⃣: Identify your exit points
Let's say you want to buy Gold (GLD)
You need to decide your win/loss limits
e.g If GLD goes up 30%, I sell and call it a win
If it goes down 10%, I sell and call it a loss
Let's say you want to buy Gold (GLD)
You need to decide your win/loss limits
e.g If GLD goes up 30%, I sell and call it a win
If it goes down 10%, I sell and call it a loss
