Stop Loss Alone is not Risk Management - What is Your System
To be successful, you must develop consistency in your trading.
You can achieve this by creating a system to trade.
One that provides an edge to fit your lifestyle and personality.
Discipline is required to stick to your system so that you can measure results (wins and losses) over a large number of trades.
A simple journal helps you to measure your trades.
This provides edge and success unfolds over time, requiring a strong mindset to create, adhere and measure.
Goals are achievable through steps that are part of the process.
Things to consider when developing your system are: Market Phase, Price Structure, Areas of Value, Areas of Entries as well as Exits, Multi Time Frame Analysis, Trend Lines, Support and Resistance, Dynamic Support and Resistance etc.
Pro Tip: Trade clean and don't clutter your charts. Trade around a couple of levels with a single indicator.
Be PATIENT to let trades come to you once you have made a trading plan.
And when the market enters your zone, be READY to take action and trigger your entry based on rules.
If you're a new trader or a struggling trader, feel free to reach out and ask me a question.
If you liked this idea or if you have your own opinion about it, write in the comments.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations.
You can achieve this by creating a system to trade.
One that provides an edge to fit your lifestyle and personality.
Discipline is required to stick to your system so that you can measure results (wins and losses) over a large number of trades.
A simple journal helps you to measure your trades.
This provides edge and success unfolds over time, requiring a strong mindset to create, adhere and measure.
Goals are achievable through steps that are part of the process.
Things to consider when developing your system are: Market Phase, Price Structure, Areas of Value, Areas of Entries as well as Exits, Multi Time Frame Analysis, Trend Lines, Support and Resistance, Dynamic Support and Resistance etc.
Pro Tip: Trade clean and don't clutter your charts. Trade around a couple of levels with a single indicator.
Be PATIENT to let trades come to you once you have made a trading plan.
And when the market enters your zone, be READY to take action and trigger your entry based on rules.
If you're a new trader or a struggling trader, feel free to reach out and ask me a question.
If you liked this idea or if you have your own opinion about it, write in the comments.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.