Amazing Rules for Getting profits
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FortuneNodeOfficial
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If as a Trader, you are currently:
- Overtrading
- Can't find a good trade
- On a losing streak
This Post is for you.
8 RULES you MUST follow to improve your Winrate:
1. STOP TRADING FOR AWHILE
TAKING A BREAK is NECESSARY. Even I took breaks for days and sometimes 1 week max.
Do not trade for a span of few days to a week, but always keep watch of price action still. Taking a break will help clear your mind.
2. MEDITATION
This is an entirely whole new topic in itself, but meditation helped me master control in myself. Not only will meditation help you ease and clear your mind, it will also help you in trading.
CLEAR MIND = BETTER ANALYZATION & EXECUTION
3. REVIEW YOUR RISK MANAGEMENT
Ask yourself:
Are you following your Risk Percentage?
Are you following your trading plan?
Are you exiting and entering a trade based on your plan?
Are you Risking more than you should?
It's always good to review and reflect upon yourself.
4. 10 LOSING TRADES STREAK = YOUR STRATEGY IS FLAWED
If your strategy is on a 10 losses or more losing streak, chances are its flawed and a bad strategy.
It’s not too late though, change your approach and learn even more. This is but a lesson for you, turn it into a good one.
5. FOCUS ON THE HIGHER TIMEFRAME
If you are on a losing streak because of the Lower Timeframe. Just zoom out and trade the higher timeframes. The 1H, 4H & 1D is a good place to start. I guarantee this will reduce your losses and overtrading habits.
6. PAPER TRADE
Paper trade for awhile if you think you are not confident enough with your strategy. Paper Trading for a month is beneficial and will help you also regulate your emotions.
7. KEEP A TRADING JOURNAL
I don’t know how many times this has been emphasized, but KEEP A TRADING JOURNAL. Your future self will thank you.
I will expand on making a Trading Journal on the next few threads.
8. LEARN MORE
If you are set on a specific trading strategy, do your all to know every component of it, anything that has to do with it. Learn from new people with different views.
- Overtrading
- Can't find a good trade
- On a losing streak
This Post is for you.
8 RULES you MUST follow to improve your Winrate:
1. STOP TRADING FOR AWHILE
TAKING A BREAK is NECESSARY. Even I took breaks for days and sometimes 1 week max.
Do not trade for a span of few days to a week, but always keep watch of price action still. Taking a break will help clear your mind.
2. MEDITATION
This is an entirely whole new topic in itself, but meditation helped me master control in myself. Not only will meditation help you ease and clear your mind, it will also help you in trading.
CLEAR MIND = BETTER ANALYZATION & EXECUTION
3. REVIEW YOUR RISK MANAGEMENT
Ask yourself:
Are you following your Risk Percentage?
Are you following your trading plan?
Are you exiting and entering a trade based on your plan?
Are you Risking more than you should?
It's always good to review and reflect upon yourself.
4. 10 LOSING TRADES STREAK = YOUR STRATEGY IS FLAWED
If your strategy is on a 10 losses or more losing streak, chances are its flawed and a bad strategy.
It’s not too late though, change your approach and learn even more. This is but a lesson for you, turn it into a good one.
5. FOCUS ON THE HIGHER TIMEFRAME
If you are on a losing streak because of the Lower Timeframe. Just zoom out and trade the higher timeframes. The 1H, 4H & 1D is a good place to start. I guarantee this will reduce your losses and overtrading habits.
6. PAPER TRADE
Paper trade for awhile if you think you are not confident enough with your strategy. Paper Trading for a month is beneficial and will help you also regulate your emotions.
7. KEEP A TRADING JOURNAL
I don’t know how many times this has been emphasized, but KEEP A TRADING JOURNAL. Your future self will thank you.
I will expand on making a Trading Journal on the next few threads.
8. LEARN MORE
If you are set on a specific trading strategy, do your all to know every component of it, anything that has to do with it. Learn from new people with different views.
Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content. See T&Cs.
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