FOLLOW THESE 03 RULES STRICTLY FOR YOUR SUCCESS
01. TRADING STRATEGY
YOU MUST FOCUS ON 1 TRADING STRATEGY.
THERE ARE MULTIPLE STRATEGIES OUT THERE YOU CAN INCORPORATE IN YOUR TRADING. YOU MUST PUT IN THE SCREEN TIME TO FIND SUCCESS AND CONVICTION.
HERE ARE STRATEGIES YOU CAN START LEARNING:
•SUPPLY & DEMAND
•SMART MONEY CONCEPTS
•ICT
•THESTRAT BY ROB SMITH
•TREND FOLLOWING
•SUPPORT AND RESISTANCE
•CHART PATTERNS
•REVERSAL CANDLESTICKS
•BREAKOUT RETEST
02. TRADING RULES
AS A TRADER YOU MUST HAVE CLEAR RULES FOR YOURSELF TO REMAIN DISCIPLINED
• I WILL NOT RISK MORE THAN 50% OF MY ACCOUNT PER TRADE.
• I WILL FOLLOW MY % AND TECHNICAL STOP LOSS TO CUT MY LOSING TRADES.
• I WILL NOT ENTER TRADES BLINDLY AND HOPE THE TRADE GOES IN MY FAVOR.
• I WILL WAKE UP THR BEFORE THE MARKET OPENS TO PREPARE AND GAME-PLAN FOR THE TRADING DAY.
• I WILL STOP TRADING AFTER 2 CONSECUTIVE LOSING TRADES.
• I WILL NOT OVER TRADE!
• I WILL NO FOMO (FEAR OF MISSING OUT) ON TRADES.
• I WILL NOT ADD TO MY LOSING POSITIONS.
• I WILL WAIT FOR MY TRADING SET UP BEFORE ENTERING MY TRADES.
• I WILL LET MY RUNNERS RUN AND MOVE MY STOP LOSS HIGHER.
03. AVOID THESE COMMON EMOTIONAL MISTAKES
• RUSH INTO NEW TRADES AFTER EXPERIENCING A FEW LOSSES IN ORDER TO WIN THE MONEY BACK QUICKLY.
• FEAR TAKING THE NEXT VALID TRADE AFTER A SERIES OFLOSSES.
• STAY IN A LOSING TRADE "HOPING" THAT THINGS WILL TURN AROUND.
• FOCUS ON SHORT TERM RESULTS AND LOSE THEIR PERSPECTIVE.
• FAIL TO STICK TO CONSISTENT PERCENTAGE RISK PER TRADE.
• CONSTANTLY CHANGING TRADING SYSTEMS/STRATEGIES AFTER EXPERIENCING SHORT TERM LOSSES.
• FOCUS ON THE ACCOUNT BALANCE INSTEAD OF FOLLOWING THE SYSTEM.
• GET EMOTIONALLY AFFECTED BY LOSSES: FEAR, STRESS, LOSS IN CONFIDENCE.
• BLAME AND FIND EXTERNAL REASONS FOR THEIR LOSSES.
• DESIRE TO TAKE REVENGE ON A STOCK OR THE MARKET AFTER EXPERIENCING LOSSES.
#BTC☀ #MrBeast