Position Planning

Careful planning must go into each and every position to effectively manage risk.

This includes coming up with a comfortable amount to risk, how much reward you are seeking for that risk, along with crucial levels and signals to watch for, such as support, resistance, or indicators.

Before entering a position performing technical analysis to map out any potential areas of support or resistance. 

Knowing just how much to risk to achieve a particular reward, and knowing at which price point to take profit at to achieve the desired results, is a risk management strategy in and of itself.

By having a plan in advance, there is less chance for emotions getting in the way.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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