YOUR PROFIT FORMULA | Three Essential Ingredients 🤔💭💫
Updated
Hey traders, We must admit that it is phenomenally difficult to become a consistently profitable trader.
This journey requires years of practicing and training, constant losses, and nervous breakdowns.
If you are a struggling trader, if you are still looking for your way to succeed in this game, here is the formula that will help you to chase consistent profits.
💰Consistent profits = 📝Trading Strategy + 🤬Emotions + 📈Market Sentiment
Let's discuss each element separately.
📝Trading Strategy:
To be in profit in a long run requires an understanding of what do you actually trade.
You must have strict and objective entry conditions.
You must rely on the objective & verifiable rules for the execution of market analysis.
You must have a plan to follow.
A plan that is backtested and proved its efficiency.
🤬Emotions:
Even the best trading plan, the most accurate trading strategy can be easily beaten by emotions.
Emotional decisions such as revenge trading and early position close
can easily blow the account of any size in a blink of an eye.
The most disappointing thing to note right here is the fact that you can be taught how to execute technical analysis but you can not be taught to control your emotions.
Your main enemy here is yourself and being in a constant battle with your greed and fear it is very easy to go broke.
Only by being humble, disciplined and patient, you can successfully apply a trading strategy.
📈Market Sentiment:
Mastering your emotions and having studied a trading strategy, it looks like it is finally the time to make money.
However, occasionally the market tends to be irrational.
Being chaotic and unpredictable, sometimes the market neglects every technical and fundamental rule.
Crisis, euphoria: the reasons can be different.
The fact is that such things happen.
And it is your duty to learn to deal with unfavorable market conditions.
💰To become a consistently profitable trader, you must become the master of these three elements.
Only then the doors to freedom and independence will be opened to you.
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