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Position Sizing: Determine how much capital to allocate to each trade. A common rule of thumb is to risk only a small percentage of your total capital on any single trade, typically 1% to 2%. This ensures that a single losing trade won't have a catastrophic impact on your overall account.
Stop-Loss Orders: Set specific price levels at which you will exit a trade if it goes against you. Stop-loss orders help limit potential losses and protect your capital. Be disciplined in sticking to your stop-loss levels.
