Money management tips , anyone to help?

<p id="isPasted">You can use the "3-5-7" rule.</p><p>The "3-5-7 rule" is a risk management strategy in trading. It suggests that traders should limit their risk on any single trade to 3% of their capital, their total open trade risk to 5%, and aim for a 7% profit target. This helps manage potential losses and aims for profitable trades.&nbsp;</p><p>Here's a breakdown of the rule:</p><p>3% Rule:</p><p>Never risk more than 3% of your total trading capital on a single trade. For example, if you have $10,000, you wouldn't risk more than $300 on one trade.&nbsp;</p><p>5% Rule:</p><p>Keep the total risk across all open positions within 5% of your capital. This prevents over-concentration in the market.&nbsp;</p><p>7% Rule:</p><p>Aim for a profit target that is at least 7% higher than your potential loss. For example, if you risk $300, you would aim to make at least $21 in profit (7% of $300).&nbsp;</p><p>This rule helps traders to:&nbsp;</p><p>Limit losses:</p><p>By restricting risk on individual trades, it protects against significant losses from unexpected market movements.&nbsp;</p><p>Manage exposure:</p><p>Diversifying across multiple trades and limiting total exposure helps mitigate the impact of any single trade.&nbsp;</p><p>Encourage discipline:</p><p>It promotes a structured approach to trading, encouraging patience and calculated decisions.&nbsp;</p><p>Increase profitability:</p><p>The 7% profit target helps ensure that winning trades generate sufficient returns to offset losses and contribute to overall portfolio growth.&nbsp;</p><p>While the 3-5-7 rule is a helpful guideline, it's not a guaranteed formula for success. Market conditions and individual trading styles vary, so it's important to adapt and adjust the strategy accordingly.&nbsp;</p>