The holly grail
Lets start with why so many traders fail.
The market exploits our weaknesses!
1/ Ludicrous expectations
2/ No trade plan, No fixed rules, poor trade management, Poor risk management
3/ inability to follow your own rules
4/ Lack of experience screen time
5/ Addiction rolling the dice
1/ Ludicrous expectations the top 5 performing hedge funds of 2018 https://www.investopedia.com/top-per...f-2018-4586439 A system that makes a few % each month adds up lets say 2% per month thats over 26% per year compounding your in the returns range of successful of hedge funds
2/ Trade plan. Example a Pilot will perform pre flight checks fuel management flight range navigation weather take off landing procedures
Example Simple trade plan. Entry rules buy /sell trends with pullbacks to a moving average with candlestick rejections train tracks or pin bars on h4 time frame. Risk stops a few pips above or bellow the entry candlesticks = 1% of account per trade. Target take profit at 3x your stop size in pips. Management once a trade reaches 2x your stop move stop to break even.
3/ inability to follow your own rules cant fallow number 2
4/ Lack of experience screen time. demo a live market with system and rules dont micro manage it wait until you have 100 trades then use the data to establish how the system performed you speed up the process by testing multiple systems on different demo accounts your learn a lot form doing this. Find what resonates works best for you.
5/ Addiction rolling the dice. Trade without emotion your job will be waiting for combination triggers your rules to Aline on your platform and follow your trade and risk management. Trading should be boring like watching paint dry. You dont care about 1 trade your system is based on 100 trades and you sleep well knowing this.
The Holly grail system is any system that has a slight edge apply thee above advise to your system be realistic about % returns. You might surprise yourself and smash your targets.
Lets start with why so many traders fail.
The market exploits our weaknesses!
1/ Ludicrous expectations
2/ No trade plan, No fixed rules, poor trade management, Poor risk management
3/ inability to follow your own rules
4/ Lack of experience screen time
5/ Addiction rolling the dice
1/ Ludicrous expectations the top 5 performing hedge funds of 2018 https://www.investopedia.com/top-per...f-2018-4586439 A system that makes a few % each month adds up lets say 2% per month thats over 26% per year compounding your in the returns range of successful of hedge funds
2/ Trade plan. Example a Pilot will perform pre flight checks fuel management flight range navigation weather take off landing procedures
Example Simple trade plan. Entry rules buy /sell trends with pullbacks to a moving average with candlestick rejections train tracks or pin bars on h4 time frame. Risk stops a few pips above or bellow the entry candlesticks = 1% of account per trade. Target take profit at 3x your stop size in pips. Management once a trade reaches 2x your stop move stop to break even.
3/ inability to follow your own rules cant fallow number 2
4/ Lack of experience screen time. demo a live market with system and rules dont micro manage it wait until you have 100 trades then use the data to establish how the system performed you speed up the process by testing multiple systems on different demo accounts your learn a lot form doing this. Find what resonates works best for you.
5/ Addiction rolling the dice. Trade without emotion your job will be waiting for combination triggers your rules to Aline on your platform and follow your trade and risk management. Trading should be boring like watching paint dry. You dont care about 1 trade your system is based on 100 trades and you sleep well knowing this.
The Holly grail system is any system that has a slight edge apply thee above advise to your system be realistic about % returns. You might surprise yourself and smash your targets.
Turn your wounds into wisdom
