here are two major trading markets for exchanging financial assets: the spot market and the futures market. Financial assets are traded quickly in the spot market, and the transaction is carried out at the holder's discretion. The deal in futures is settled at a later date. Establish a trade plan The first piece of advice cannot be overstated: meticulously plan your trades before taking a position. This entails not just a profit target, but also an exit strategy in the event that the trade goes against you. The idea is to reduce the chances of you having to make critical judgments when you're already in the market with money on the line. You don't want fear or greed to dictate your actions by enticing you into holding a losing position for too long or abandoning a lucrative position too soon. A well-crafted trading strategy that includes risk-management tools like stop-loss orders (discussed below) and bracket orders can help shield you from such mistakes. Assume you purchased one December silver contract at $20.00 per ounce. You might create a stop loss exit at $18.00 per ounce and a profit exit at $25.00 per ounce using a bracket order. You're seeking to keep your risk to $2 per ounce while retaining a profit possibility of $5 per ounce in this manner.
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