How can you ensure you’re unlikely to lose money when trading? Simple: Master the Eight Questions Before Entering a Position—Don’t Buy Until You Have Clear Answers. 1. How much upside potential is there? 2. Under what conditions will you exit to lock in profits? 3. Will you take profits in batches or all at once? 4. Can you accept calmly if the price continues rising after you take profits? 5. Should you cut losses if you’re in a floating loss? 6. If you choose not to cut losses, what strategies can you use to recover? 7. If you decide to cut losses, at what point must you do so? 8. Can you accept calmly if the price surges immediately after your stop-loss?
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