Your trading journey can get better from today itself if you make this simple adjustment in your trading plan -
1. You will take a trade if it offers a minimum 1:2 risk reward
2. You will not take more than 1% loss on trading capital per trade
With 1 Lakh capital, a 50% win rate trading system with 1:2 Risk Reward gives you 50% profits once you complete 100 trades consistently with discipline. Trading is as simple as that!
What is the most important keyword in the above message which defines success??
Successful traders remain calm during their losing streak because they knows its a phase and its a part of their trading plan. They accept the situation & move on instead of changing their proven system or attempt to change anything.
Maturity comes with experience!
Never get carried away with the noise on social media. Allow your system to bring the qualified trades to you.
After all, u have invested 100s & 1000s of hours developing ur system via rigorous backtesting. Let the system do its job via alert while you enjoy your free time!
Record-breaking U.S.-Turkey 2021 trade data is officially in!
$28B in bilateral trade, including approx:
- $12B in U.S. exports 🇺🇸
- $16B in Turkish exports 🇹🇷
- 30% increase since 2020
- the U.S. became Turkey's 2nd largest export market
A scratch trade with an acceptance of being wrong is much better than a big loss trade with a big ego of being right.
Acceptance is a bliss in trading!
You cant get away from gap ups or gap downs if you are holding overnight positions so stop worrying about them. Consider a specific % of trades would go wrong due to this and move on. Dont just hung up in finding a crack for this.
People change their trading system after every few failed trades and then complain that nothing works in trading.
Most people enter a trade even before the setup is fully formed. On the other side, they exit way too early even before their system gives them an exit signal.
This shows lack of patience, discipline & fear of either missing the trade or losing the profit.
No trading signal works 100% of the time, no matter how good or strong the signal is. Even the best signals with multiple confirmations fail.
Always keep this probability in your trades & u will have some peace of mind. If you trade only to win, you are bound to be disappointed.
Train your eyes to pick just one price pattern and you can trade it on any timeframe. Have 1:2 risk reward and you will never look back.
One such price action pattern is VCP or ascending triangle pattern (in other words).
Spot it right and make a killing in your trading!