Your first perps plan
Five lines you write while calm, for when you are not.
One page, written before the trade. A perps plan is five lines you decide while calm. Then you follow them when you are not calm.
Loss first. $20 a day. How much paper USDC you can lose today. Everything else is sized from this number, not from your target.
5x max. $100 margin. Leverage you can survive and a size that makes the daily limit hard to hit. MemeSim's 5x cap is a decent first plan.
Line 4: stop and TP on every trade. Stop where the idea breaks, target at least three times further. If that does not fit, no trade.
Line 5: two losses, done. Two losses in a row and the day is over. The third trade is the revenge trade, and it is the expensive one.
First line?
After two losses.
The plan meets the market. Your plan: 5x, $100 margin, two losses and done. You lost twice today. BTC just spiked 2%. Buy means open at 20x, skip means stop for the day, sell means nothing open.
Your first perps plan · 4 min
One page, written before the trade.
A perps plan is five lines you decide while calm. Then you follow them when you are not calm.
Go deeper
A workable first plan on MemeSim: lose no more than $20 of paper USDC a day; 5x maximum, which is the beginner cap anyway; $100 margin per trade; a stop where the idea is wrong and a target at least three times further, attached when you open; and two losses in a row ends the day. Write it down before the first trade and read it before every trade. The plan is not there for calm days.