How to make every trading week profitable

This thread will be for those who feel like they should be successful, but can’t get out of their own way due to lack of self control/patience.

It will take time to explain in detail. But if you know how to trade, I can show you how to take 90% of emotions out of the picture. This will allow you to have a clear mind and execute your approach and even improve your trading. More to come…

First, we have heard it said the biggest problem for retail traders is being underfunded. That is completely false.

Ever wonder why brokers only give 100k demos? Well if you have a 100k, they want you to eventually deposit that and blow up the account and pay all the associated fees with all the trades taken. And if you don’t have 100k to deposit, you will get accustomed to the adrenaline rush of trading 100k on demo. Then when you deposit a much smaller amount the tendency will be to over leverage to try and maintain the same rush of adrenaline. Then account after account is blown up, and same good results for the broker getting paid.

So the first step of settling the mind and calming the emotions is trading a smaller account. Edit: AND understanding the smaller account benefits and accepting it as the better option.

There are further steps that will allow you to make just as much money with smaller accounts and even possibly more money with a smaller account than with a bigger account. I will share more as I have time…

edit2: how did I find it? Honestly it was an accident. A potentially really bad trading decision caused something to click in my mind and became the best trading decision I ever made. The levels of enlightenment about trading psychology continued to advance over a span of time and even now continue to improve

I recommend stop trading your own money. There are plenty of prop firms that are trustworthy that will fund you for a small fee and with relatively short evaluation periods.

At the moment, my 2 favorites are FTMO and MyForexFunds. I am NOT an affiliate of either one and not saying you should use these. You like a different prop firm then go with what you like.

MyForexFunds wins for me because they have cheapest evaluation cost with the most reasonable rules that I’ve seen. They have 3 different modes, I’ve gone with the evaluation mode which can provide a funded account after a 10 day evaluation process.

How many times have you had a really bad day, created an insurmountable drawdown maybe even blown up your account, only to start a new account the next day. Maybe the next day was better or worse.

But the endless cycle of doing really bad some days/weeks and doing really good some days/weeks, all the while never getting ahead is wearisome and self-defeating.

There is a way to trade so that every time you have a drawdown, you can either:

1) start fresh without dealing with a drawdown
2) still be in profit in spite of a drawdown

Of course the way to do this is by trading more than one account

Having more than one account is not in itself the answer. There is much more to it, but it is the foundation of the way to end every week in profit.

Next post will go into detail of what mindset adjustments are necessary to make this work and how easy those mindset adjustments are to make.

im in, thanks for starting the thread

kind regards

What causes us to overtrade, over leverage, allow a trade to go further and further against us, and create a big DD or blow an account?

Most of the time it’s easy to stop trading for the day if we have a nice profit. But if we are in the red, what makes us keep digging a deeper and deeper hole and refusing to stop the bleeding? Stubborn refusal to accept that we can’t make things work. Pride keeps us from accepting that we are failing.

We cannot accept that some days may not work out well for whatever reason.

How do we change this mindset and develop and maintain a positive mindset even when we have a bad day? We learn to let it go. If we know we have another account that is fresh or even in profit, we can learn to let it go, when we focus on the next step of trading another account. The drawdown won’t matter in our mind if we know we have 1, maybe 2, 3, or more chances.

Say I have 4 accounts. And a given week I have 4% DD on 2 of the accounts and on the other 2 break even and an 8% gain. A break even week right? Wrong.

Account 1 weekly loss of 4%
Account 2 weekly loss of 4%
Account 3 weekly gain of 8%
Account 4 break even week

How is this not break even? Because we can withdraw 8% profit. That is money in the bank. Guess what makes a mindset more positive? Profit.

If you know how to trade. You can do it. If you have more than one account it is also easier to stop trading if you know it is not your last try for the week and there will be absolutely no pressure to recover the DD. Because you can just reset your mind with a fresh account or even with an account that is already in profit.

What’s more, once you are in profit, you might even go back to your account with DD and trade it back into profit? Why is this very likely doable and without pressure? Because you are already in profit for the week, so you can clearly focus on executing your trades without pressure to recover the DD. Having the profit “banked” allows you to stay positive.

Some rules to make sure your mindset remains stable:
1) Always take a break after creating a DD
2) Know when the best times of day are to trade and/or best days and ONLY trade during those times
3) Never allow yourself to trade more than one account into a significant DD in a single day (for me 4% DD is significant)
4) Any DD should be easily recovered with one or 2 trades or one 1-2 hour trading session
5) At this point in your trading journey you should know exactly what you are looking for to trade. Only trade when you see that.
6) You should also know when you should NOT trade or, know how to choose what setup to trade according to how price is behaving. do not force something that is not there.
7) Protect your daily profit. You know what your good day looks like. When you have one, STOP trading. Don’t risk profit.
8) Protect your weekly profit. If you are in nice profit with one or more accounts for the week. For me 20% is nice. Then stop trading those accounts for the week.

And so far everything I’ve posted really only scratches the surface of the potential to improve and be profitable. For example, you should know by now that if you had a fresh start 5-10 times a week, you could have a few or several good trading sessions. I trade 1 or 2 sessions per day for 1-2 hours max each session. I know that I will be successful more than not with a positive mindset.

So if you were given 5 accounts and even just trade each of them 1 time a week, do you think you could be profitable on at least 2-3 of them? Even if you only have one really good day, you can still bank profit in spite of the other accounts.

Next post I will share details of why evaluation accounts are ideal for this mindset approach, and how even if you periodically stumble and blow up accounts you can still be profitable every week. I will also share my experience how I accidentally fell into this new way to fix every emotional problem with trading.

Eventually I will also outline the path to successfully trade bigger accounts which can increase your profits, ONLY after you successfully prove you can be profitable with smaller accounts.

If you want some best strategy of trades and how to get rid of trading stress and get amazing profits, ask me how?

No thanks

Example:

You start trading account 1 and gain 20% over a period of a several days.

But then you have a bad day and break a few rules. You start trading your other accounts without taking a break.

create drawdowns on 2 accounts but then have some gains on the 4th account:

Account 1 lost 4%
Account 2 lost 4%
Account 3 lost 4%
Account 4 gained 4%

So in spite of the bad day, and not following rules, overall you are still in profit 12% since 20% - 4% - 4% +4% = 12%

Trading only one account with the same mistakes and bad trading would likely have simply resulted in a big drawdown or blown account.

Especially a bigger account.

Think about it. The trading day would have started with a 12% drawdown if it was a single account. That would break any daily or max DD rule for any prop firm.

Even if you stopped the bleeding at 9% with a 100k funded account, assuming that doesn’t break a rule. That is -9000. And how hard would it be to come back from that? Practically impossible, since you are likely at the threshold of the maximum DD allowable. Edit: this might depend on whether there is a trailing drawdown or not, but the truth is that is a huge amount to lose on one account, which can easily cause one to overleverage or overtrade to try and get it back - easily kills mindset. Plus not many prop firms would allow that big of % loss in a single day.

But instead, live to trade another day, and even withdraw 12% profit if you want.

If the accounts are $5000, that means pocket $600 minus the profit split, or leave the cushion in there until you increase gains more.

And each small DD is very possible to recover, plus you have 2 accounts without a DD

Result - you didn’t destroy your mindset…

interesting！ a topic new

In my opinion to be profitable in trading always use a trading plan. It is a written set of rules that specifies a trader's entry, exit, and money management for every trade.

Very interesting idea. Thank you for bringing it up.

Question: Say you have 4 accounts and in your example get a DD at the #4. Will you then start over at #1?? Or are you constantly buying new accounts at the prop firm?

Edit: Read the posts again and you will find the answers! Yes you kind of turn the stack at trade the DD accounts again, this time without having the DD on your mind. Genious I should say!

These thoughts are totally new to me. I look very much forward to follow your posts.

Good! Thank you sharing your Ideas! May God bless.
I've been reading this book (in attachment) - (Was recommended by 'Trading Made Simple' forum founder Big'E)

yes, important to have a plan. But not possible to write everything down. If I wrote down everything I’ve learned over the past 10+ years that are part of my plan, that involve market conditions, time of day, strategies, when to use them, when not to, etc, etc, etc, it would be a book that I would be constantly updating.

But if you actually read my posts, you will see it is all about that - having a plan that will enable you to protect the most important thing needed to be successful in trading, your mindset.

Thanks all for posts and input.

@RiskFighter, yes regarding how many accounts that depends on your preference and ability to manage them. For example, to begin maybe just one or 2 accounts, and add more if you have a DD day. I have some more thoughts on that, will post later…

@killurego, books are good if that works for you. I’ve learned mostly everything about trading from a trading course, google, and other traders I communicate with. And I figured this multi-account mindset approach is not necessarily a new idea. But it is one thing I’ve learned that goes against the grain of what practically everyone “preaches” about trading. Even some prop firms or brokers won’t allow you to have more than one live account. Wonder why? Stay away from them lol. And even the “guru” with more trading experience than I have who taught the class I took about trading never really helped with managing the mindset. He made it all complicated, as if it was something so hard to understand. But it really pretty simple, but something those who take our money don’t want us to understand lol

Thanks again for all the kind words and input.

The funny thing about how I stumbled upon this mindset method… I was trading one day and things were not going well. I came close to max daily DD and stopped trading. So saved from blowout. I had been forcing entries prematurely but now I saw the PA was looking “ripe” for entry. So I opened another account. I traded that one successfully and made 12%.

Then the next day recovered the first account. Then it hit me. How easy it was with a fresh approach if I took a break and started a new account, and then another break and went back to the other one with DD. AND how much easier it was with less at risk.

I also realized that I was not ready to manage big accounts, and I need to learn first how to manage the small ones successfully. I’ve been funded countless times with small accounts, but never with accounts that are 100k or larger. This also helped me focus on what can help protect the mindset. Don’t take on more than what the mind can handle emotionally/mentally.

I remember one guy, who himself was a trading coach, commented that he had a trading coach who was helping him learn how to manage a 100k account (I believe he traded his own money). At the time it sounded strange, but now it makes perfect sense. The more money at stake, the higher the pressure. And that is true even if it is not our own money at risk. AND it is true even on a demo evaluation, the pressure is higher if I pay $499 for an evaluation or verses if I pay $49.

I’ve traded multiple accounts before, but it never worked because I didn’t accept the mindset needed to go with it. I didn’t accept my risk averse mindset limitation. Once you accept your limitations and realize what is necessary to not overload your mind, trading is much easier.

It also very interesting how much easier it is to manage four 5k accounts verses one 20k account. I do plan to work up to larger accounts, but no rush…

Let me post my 5 cents.

There is nothing connected with mindset in trading. Like nothing connected with mindset in professional boxing.
You are or a good doctor/sportsmen/trades, or you watch youtube. Or hard work, study, research or dreams about mindsets and magic.

What for? Why? You should trade when market allows you to trade. It not depends on DD. Also. Do you have any stats? For example you have stats that if take a break after DD then you are a millionaire, if not then you are a billionaire. How you came to this? You "think" so? You "feel" so?

Only volume matter. No vol = no trades. It is not related to "hours".

Why 4%? Why not 4.2%? Why not 0.3%? Do you know how much you have to earn back if you have 4% loss? Do you understand that you have to earn MORE than that number? Much more. Do you know how many "tries" you have with your 4% loss and where is the point of no return then? I think not. Because if you say that that mean you don't understand basic math.

Again. Why 2 trades? Why not 1843 trades? Why in 1-2 hours? Why not in 1-2 days? What leverage you want to use to gain back 4% loss in 2 trades? How it even possible?


What I want to say. You statements based on nothing. May be they are based on some forex fairy tales you read. May be on youtube videos. Anyway they are definitely not based on math and common sense. And that mean they will not work. They can't work. And will not.

That is very good. But you forgot to learn math. Ask yourself: do you have a formula how many profit you need to gain if you have 4% loss?
I think you don't have it. If you don't have it, then you can easy drop to the recycle bin all the bullshit you have "learned". It will not help.

So, if answer to the Q "How to make every trading week profitable" - go get regular job. Then you will have stable profit every week. Otherwise you have to work hard and learn really useful things. Or you will fail like 99.9999% here.


P.S. And yes, better put me in ignore list and proceed posting nonsense. Sure!
That will definitely help you become good trader.

I figured only a matter of time before someone arrives with their insults. I will respond to each item in time but will block you due to your attitude which is not needed.

Quoting ryuryu:There is nothing connected with mindset in trading. Like nothing connected with mindset in professional boxing.
You are or a good doctor/sportsmen/trades, or you watch youtube. Or hard work, study, research or dreams about mindsets and magic.

Most of this comment is not even coherent. But I think the first sentence is your main thought. Someone who thinks mindset (i.e. emotions/mental stability) is not involved with success in any skill, is probably sociopathic and doesn’t understand how to feel emotions. And they probably also don’t understand or care how others are affected by their own words or actions.

Even in sports, they have psychologists that help with mindset. It is all about the mind. We can do do what is possible within our capabilities ONLY if our minds believe we can do it. And ONLY if our minds are capable of handling or limiting the pressure or stress involved. For those who don’t feel stress or pressure, again sociopaths are like that. And they can be successful in high stress jobs. But I’m not sociopathic, hence need to manage the emotions.

Quoting ryuryu: What for? Why? You should trade when market allows you to trade. It not depends on DD. Also. Do you have any stats? For example you have stats that if take a break after DD then you are a millionaire, if not then you are a billionaire. How you came to this? You "think" so? You "feel" so?

Taking breaks helps to refresh and refocus. If you don’t understand the need to take breaks, maybe try trading without sleeping or eating? See how that works out for you. How did I come to this conclusion? Experience and common sense.