[Your trading strategy must have an edge]

Now, being consistent with your actions is important in trading.

But that’s not all because you must also have an edge in the markets.

You’re probably wondering:

“What does it mean?”

Simple.

This means your trading strategy must yield a positive result in the long-run.

If it doesn’t, then no amount of consistency will save you because you’ll end up a consistent loser.

Don’t believe me?

Then go down to the nearest casino and bet consistently.

You can be consistent with your risk management, bet size, games you place, etc.

In the long-run, you’ll still lose consistently because you don’t have an edge over the casino.

Agree?

And it’s the same for trading!

You must have an edge in the markets because without it, no amount of consistency, risk management, trading psychology, etc. will save you.

Do you want to read the price action of the markets like a professional trader?

Then download a FREE copy of The Ultimate Guide to Price Action Trading.

You’ll learn how to better time your entries, “predict” marketing turning points, identify explosive breakout trades about to happen, and much more…

Click the link below and grab your copy, it’s free!

https://www.tradingwithrayner.com/ultimate-guide-price-action-trading/

If you take care of your downside, your profits will take care of itself.

The Essential Guide To Trading Multiple Timeframes

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[The most important formula in trading…]

You’re probably wondering:

“How do I know if I’ve got an edge?”

That’s a good question.

You can’t tell if you have an edge based on chart analysis, risk management, psychology, etc.

Instead, you must be able to quantify your edge.

Here’s the formula…

E = (average gain x winning rate) – (average loss x losing rate)

Now, don’t panic because the formula is easy to understand that even a 10-year-old can do it.

Let me explain…

Let’s assume you have the following metrics from your trading…

•Average gain = $500
•Average loss = $400
•Winning rate = 60%
•Losing rate = 40%

Next, plug those numbers into the formula and you’ll get…

E = ($500 x 0.6) – ($400 x 0.4)
= $300 – $160
= $140

Now, what does $140 mean?

Two things…

#1: It means your trading strategy has a positive expectancy (otherwise known as an edge).

#2: In the long-run, you can expect to make an average of $140 per trade.

Now…

Your expectancy will vary from one trading strategy to the next (and from trader to trader).

It’s possible to have an edge with a low winning rate because your average gain is much higher than average loss.

Likewise, it’s also possible to have an edge with a higher average loss than gain because your winning rate is high.

9 Things Professional Traders Do That Losers Don’t

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The Essential Guide To Reversal Chart Patterns

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Get your hands dirty and do the work because that's how you develop conviction in your trading strategy.

Then apply risk management so you don't blow up.

Finally, stop chasing the latest fads because it won't make you a better trader—doing the work will.

How To Be the Top 5% Of Traders When Almost Everyone Fails

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[Here’s why you need proper risk management in trading]

Imagine:

There are two traders, John and Sally.

They both start with a $1,000 account

John is an aggressive trader and he risks $250 on each trade.

Sally is a conservative trader and she risks $20 on each trade.

Both adopt a trading strategy that wins 50% of the time with an average of 1:2 risk to reward.

Over the next 8 trades, the outcomes are Lose Lose Lose Lose Win Win Win Win.

Here’s the outcome for John:

-$250 -$250 -$250 -$250 = BLOW UP

Here’s the outcome for Sally:

-$20 -$20 -$20 -$20 +$40 +$40 +$40 +$40 = +$80

Do you see the power of risk management?

So here’s the deal:

As a trader, you’ll encounter losses regularly.

But with proper risk management, you can contain these losses till it feels like an “ant bite”.

ATR Indicator Explained

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If you’re broke, don’t be a trader.

Instead, get a job so you can pay the bills.

Then, you can learn how to trade.

This puts you in a position of strength as you remove “the need to make money” syndrome.

Doing this will 10x your chance of success.

Bollinger Bands Indicator Explained

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[The truth is: trading is a get-rich-slow scheme]

You’re probably thinking:

“Then what’s the point of being a trader?”

“No way. I want to make fast money so I can quit my job.”

“But I’ve heard of traders taking a few thousand dollars and turning it into millions.”

Yes, it’s possible to make big returns from trading in a short period.

How?

All you need to do is risk all your capital on one trade.

And if you get a 1-to-1 risk-to-reward ratio, you’ve just doubled your account.

So, what’s the catch?

It’s not sustainable.

Because if you encounter a single loss, that’s the end of your account.

So, how should you approach trading?

As a get-rich-slow scheme.

I know it’s not sexy.

But if you stick with it long enough, it’s possible to grow your account to 7-figures (and beyond).

Here’s how…

Let’s say you have a $5,000 trading account

You contribute $5,000 to your account each year

You earn an average of 20% a year

Now if you do this consistently for 30 years, do you know how much money you’ll have?

$8,278,170.

Yes, you see that right, $8,278,170.

In other words, when you think long-term, the sky is the limit.

Unfortunately, most traders are fixated on the now that they miss the big picture.

Don’t be one of them.

Everyone wants to become a professional trader without really knowing what it means. So here's the truth and what it takes to become one…

Learn More 👉 https://www.tradingwithrayner.com/professional-trader/

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Quit trying to trade every level on your chart.

Instead, pick a spot to trade where you’ll lose small when wrong—and the market can reward you when right.

The result?

Less trading, less commissions, less mistakes, and a fatter bottom line.

Do you want to read candlestick patterns like a professional trader?

Then download a FREE copy of The Monster Guide to Candlestick Patterns.

You'll discover how to "predict" market turning points and better time your entries & exits - even if you have no trading experience.

Click the link below and grab your copy, it’s free!

https://www.tradingwithrayner.com/candlestick-pdf-guide/

[Have another source of income to tide over the tough times in trading]

Here’s the truth:

No matter how good you are as a trader, you’ll encounter losing streaks, losing weeks, and possibly even losing years.

If you do not prepare for it, you’ll face difficulties putting food on the table, paying your bills, etc.

And in such scenarios, it’s difficult to make good trading decisions because you’re trading with money you can’t afford to lose.

You’ll average into your losses hoping to make it back quickly or widen your stop loss so you don’t lose your money.

So what can you do about it?

Well, that’s where having another source of income helps.

It could be having a job, an online business, affiliate marketing, etc.—the more sources you have, the better.

Here are some ideas you can think about:

• Affiliate marketing (recommend products & services you believe in and get paid for it)
• Coaching program
• Online course
• Earn advertising fees (from YouTube, Google, etc.)

Now, building multiple sources of income is like digging a well.

You want to focus on digging a well till water comes up before you move on and dig another well.

Otherwise, if you dig many wells at once, you’ll end up with no water because you didn’t dig deep enough.

And it’s the same thing for building multiple sources of income.

If you're serious about trading, then you MUST have a trading journal. Here's how to create one step by step…

Learn More 👉 https://www.tradingwithrayner.com/trading-journal/

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How to identify the direction of the trend without second-guessing yourself.

Here are 5 techniques you can use…

Learn More 👉 https://www.tradingwithrayner.com/best-trend-indicators/

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