Practice risk management to protect your capital from "summary" of How to Day Trade for a Living by Andrew Aziz
Risk management is an essential component of successful day trading. It involves identifying potential risks and taking steps to mitigate them in order to protect your capital. By understanding and managing risk, you can avoid significant losses and improve your chances of long-term profitability. One of the key aspects of risk management is setting stop-loss orders. A stop-loss order is a predetermined price at which you will exit a trade to limit your losses. By setting a stop-loss order, you can protect yourself from large losses if a trade goes against you. It is important to set stop-loss orders based on your risk tolerance and the volatility of the market. In additi...
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