Shield your winners against trades going too far against you [Video]
|What one thing stands out to you:
From all trades made between 11 and 3 on Monday?
Not sure?
You'll see in a sec.
But first some context...
I gained vital skills from training at a professional trading firm.
But the trading process I use today also evolved out of overcoming deficiencies.
You see:
I bet you're a bit like me.
Because this particular deficiency is also a significant obstacle for most people.
Yet no matter how much effort I put into analysis and trade idea generation — my timing was way off. Know the feeling?
What happens next?
When your timing is off you suffer any/all of the following:
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Your trade goes into the red. Maybe deep into the red.
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You take a loss. And another. But even if that trade eventually works — it doesn't offset the initial losses. Agree?
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Or you're stopped out and miss out on the move when it finally happens.
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And let's not forget the ubiquitous trap of adding to a loser to improve your average price. But you know how this turns out. Right? And It's responsible for more accounts blowing up than all other factors combined.
Now looking at the trades again — see how none of the winning entries move against you?
Even the losing trade goes your way to start with — so the actual loss is very small.
This is exactly how you want your trades to behave. True?
Because it's exactly how you overcome giving back your winners in the form of losers. Correct?
So how do you do it? Tell you in a minute.
But let's start with what it's not and bust some myths about trading.
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It's NOT technical analysis.
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It's NOT 'price action'
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It is NOT having access to information or indicators that predict the future.
The answer is it boils down to these three components:
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Game planning.
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Playbook trades.
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Multiple points of evidence.
Now:
To perform all three components requires proficiency in 20 trading skills.
But for professions — including trading — proficiency in 20 skills isn't excessive. Agree?
But here's the thing:
You won't find a YouTube video or free download teaching you these skills.
Why?
Because they belong to the realm of genuine professionals.
Take a moment to ask yourself...
Are you blind to your potential?
For most people, if they never get the chance to develop the necessary expertise — honing the skills listed above — they may never discover their true trading potential. Agree?
And what about you?
What's your trading potential? What's your potential if you could learn the expertise required to realise it?
You know:
In sports, if you haven't had a real opportunity to discover your potential at a young age — having had the benefit of first-class expertise and training — you're soon too old ever to know what could have been. Right?
But trading is a mental sport.
One which requires mental skills which improve with age — as scientific research proves.
So there's no reason to miss out on finding out your true potential. All it requires is training and guidance over a 9-12 month period from a market professional skilled at imparting these skills.
Discover the advantages of trading over the age of 50
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