Trade 240821 (entry)

After an unsuccessful attempt to generate consistent income through trading earlier this year, I readjusted my strategy and, most importantly, placed greater emphasis on risk management.

For this new beginning, it’s simply about taking a trade if I identify an opportunity, with zero tolerance for unnecessary risk.

I recalled a famous trader who once said: "In the majority of your trades, where you decide to place your Stop Loss is where your Entry should actually be."

Following this approach, I may miss some opportunities, but it will ultimately contribute to long-term stability and enhance my patience when entering a trade setup.

The trade below is based on the $58,000 - $60,000 range identified from previous price action.

Entry : $61,100

StopLoss: $62050

TakeProfit: $59000

Risk/Reward ratio: 2.21

Position risk: 2,99%