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