How to be profitable in most of your trades?

in #money6 years ago

You have a plan, but...

Remember, you put a lot of effort in to learning chart analysis, reading news, studying patterns etc to finally come in to a trading strategy and plan.

But the trading rules and plan you set, are of no use if you don't stick to them.

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If your strategy loses money

Find out why! Do not dilute your loyalty to your trusted plan, but also don't insist on a loss-proven plan.

contribute

No one is loss-proof, all time win and unmistakable. The rise of social media had something indeed: flow of information, among people; not from authorities to people. This is also known as media decentralization.

Cherish this opportunity and maximize your chance of learning from others.

Beauty of trading

Yes, trading is beautiful, and its beauty philosophically lies beneath the fact you can choose how much risk to take.

And the beauty of risk is, it's measurable. Whatever is measurable, is manageable. So once again, as you spent a meaningful time and effort on your trading plan, stick to it.

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money management

It is said, many times in the books and trading instructions (even in Poker teachings) that:
if you put two traders in a trading platform, and manipulate them to trade in opposite direction to each other, both will lose if they do not have proper money management rules, and both can win if they have and apply right decisions in their money management plan.

So, this is a one stop rule to make money! go to casino and play poker! just don't forget to have your money management rules, set up properly to your asset size and goals.

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Definitions used in this post, from Investopedia

Strategy Plan
A set of objective rules defining the conditions that must be met for a trade entry and exit to occur. Trading strategies include specifications for trade entries, including trade filters and triggers, as well as rules for trade exits, money management, time frames, order types, and other relevant information.

Risk
The chance that an investment's actual return will be different than expected. Risk includes the possibility of losing some or all of the original investment.

Money Management
Money management is the process of budgeting, saving, investing, spending or otherwise overseeing the capital usage of an individual or group.

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I have traded stocks since I was 19. the story started with some shares my dad gave them to me to sell, in a proper time, to help my own business which I was starting.
Finding that proper time which he stressed at, made me visit the stock hall couple of times a week!

I also have traded forex, commodities and crypto. I have been overall successful in two decades of trading, but I always advise everybody to take full responsibility of their own actions.

stay juicy in your trades

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