amarchaparala
Hey my friend,
In all of my trading sessions, I always encourage fellow traders to keep a few key things in mind. Hopefully, they'll be helpful for you too:
➕ Look for the right time to enter the market: When the market is moving too fast - especially at the open or close of the US session - I usually stay out. Instead, I prefer trading when things are more stable and less volatile. Scalping isn’t really meant for all-day trading anyway.
➕ Always set daily profit and loss limits: This helps keep emotions in check and avoid making impulsive decisions after big wins or losses.
➕ Adjust your Stop Loss and Take Profit based on market conditions: Fixed SL/TP levels aren’t always the best choice. For example, if the signal comes at the beginning of a trend, a wider SL/TP might make sense. But if the entry is late in the trend, it’s usually better to tighten things up - say, reducing SL from 50 to 30 - to limit risk.
➕ Backtesting isn’t just about checking if a strategy makes money: It’s about understanding how the market behaves, fine-tuning your risk management, identifying the strengths and weaknesses of your strategy - and working to improve it.
