Well, these five points are actually good guidance for trading. If a trader, whether a newbie or an experienced trader, follows these steps, they will not constantly experience heavy losses that can result in blowing their account. For a long time now, I have not been trading. Although my pattern of trading is mostly buying altcoins at a low price and selling if the price goes up a bit, I have not been trading features and derivatives because of the high risk, but that doesn't mean I have not traded features before.
As a matter of fact, just two days ago, I decided to test my trading skills again using my favorite exchange for futures trading, which is Digifinex.
I discovered they now have a new feature, which is a demo practice account, so I decided to practice there for a while with a demo balance of $1000. I placed about 5 trades (positions) and increased the demo balance to $1,567, but I got greedy. I should have just stopped trading that day and continued the next day, but instead I continued until I lost all the balance again.
Conclusion and a little advice: if you have actually made enough profit for the day, kindly log off and close trade for that day. Also, don't get greedy; no profit is too small. $100-$500 profit is really a good amount of earnings for a day.