#superluckeee #STUDY Lesson: Risk Management $AGRX $MICT $CLVS $CTRM $ENG Before every trade, tell yourself the entry price, your stop loss (risk level) and your price target. The best trades are those that if you are wrong you lose $0.10/share and if you are right you make $0.50+. You're risking $1 if you are wrong to make $5 if you are right so a risk/reward ratio of 1:5. I have a tight stop on my trades with a high price target so if I get my target I make money and if I am wrong I will lose a small amount. I try my best to execute my plan without making mistakes like selling too early or not stopping out too early. A good entry gives you confidence when in the trade so strive to get a good entry. I take entries near support, near reversal, near an area where I know there is buying pressure for momentum continuation! I have a price target to help me not sell too early! Trading is a skill you can get better at by practicing your trading plan until you no longer make any mistakes!
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