2 Simple Trading Tweaks To Ease Your Mind
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Transcript of 2 Simple Trading Tweaks To Ease Your Mind
Trading success is in large
part dictated by how you
think and act
One extremely important
one is to have faith in your
trading system
You decide to wing it
Others are not
so fortunate
Treat trading as a
professional career
2 Things You Can Do
Entries are not the most
important part of a trading plan
"You make your
money in the exits".
Support/Resistance
The trade plan follows the
"trade the trend until it
bends" mantra
The good thing is that this
trader takes the loss as a
part of doing business
COMPLEX CORRECTION
1. On the short side, this trader was fully
involved in the loss as price blew right over the
entry price and through the stop price.
2. On the buy side, this trader ended up sitting
on the sidelines and missing the trade while
price screamed off to large 15 point rally.
The trader finally decided to alter
the trade plan and use stop
orders once price reached a
zone of opportunity.
It also prevents you from
seeing this quick loss
compounded by a 15
point move!
Larger stopSmaller position size
$500
$300
What is worse is when you
attach something significant
to a losing trade.
Van Tharp
R-Multiple
New Scene
What if your trading
account was larger?
$100,000
1%
$1000 = -1R
$500 = -.5R
Is it a small thing?
YES
Small consolidation often seen on slightly lower time frame.
Can often be inferred from candle shape on trading timeframe.
$750
5R
Trading is not just about
the method you trade
Lessen the risk if/when price
does move in your direction.
Counterpunch Traderwww.netpickscounterpunchtrader.com/
Options Masterywww.netpicks.com/optionsacademy/