1. Don't act emotionally

This is easy to say, but very difficult, especially for new traders. But we have to be patient to learn. Learn how not to let emotions interfere with your trading plan.

One of the ways you can prevent this is by trading the baseline, the evidence, and the multiple factors for a position you take. Of course, if you have a trading method, it will be better, because at least you just need to stick to the principle of that method.

2. Always set a stop loss

This is something that new traders often don't care about. Because for new traders, the thing they care about most is always profit, but the reality is that stop loss is what you should put on top. Stop-loss is a way for you to limit your risk. The risk is limited, then you can focus on making a profit.

At first, placing your stop loss can cause you to constantly cut your loss, but if you really learn how to set your stop-loss properly then you will definitely get to know this technique at some point.

3. Always calculate the risk: reward ratio of all the strategies you work on

The concept of risk: reward ratio is probably new for new traders. But you should really understand what this ratio means to traders and how to calculate this ratio right away.

Risk: reward (RR) or risk: reward ratio. If a profitable trading strategy twice the loss then the ratio RR would be 1: 2.

Professional traders will target strategies with as high an RR rate as possible. And even if you are a new trader, you should have this mindset from the start. Should aim at transactions with large potential profits, low risks, so that the ability to have profits in the long term.

However, the first thing you should practice for yourself is the habit of always calculating the RR rate before trading.
4. Don't set daily profit targets

The reason for this is because traders will experience psychological pressure. For new traders, we should not think about profits without knowing how to trade, the necessary knowledge, and how to manage capital.

The daily profit setting puts pressure on the trader to get himself into the mood which can make the trading process much worse.