How to Draw Fibonacci Retracement: A Step-by-Step Guide for Traders

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How to reduce your fear of trading:

Don’t go all in

Manage your risk

Reduce your position size

Trade with a strategy that offers an edge

Not more than 50% of your wealth in the markets

How To Set Take Profit Orders (The Essential Guide)

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[It sucks, but just let the price hit your stop loss]

Imagine:

You buy 1 standard lot of GBP/USD at 1.4300 and have a stop loss at 1.4250.

This means if the price drops to 1.4250, you will exit the trade for a loss of $500 (or 50 pips).

Now, this is fine if you allow your stop loss to do its job.

However, you might be thinking…

“I know the market is about to rebound.”

“I’ll look like an idiot if I were to sell right now and only to watch the market reverse higher.”

“Let me hold on to the trade for a while longer and sell at the next rally.”

And what happens next?

The market collapsed another 500 pips.

Eventually, the pain is too much to bear and you forced yourself to exit your position.

And because of your hesitation, a $500 loss amplified into $5,500.

So, the bottom line is this…|

Honour your stop loss.

It’s there to protect your trading account even though it’ll make you look like a fool once in a while.

Are you looking for a reliable Forex broker you can trust?

Then you might want to check out ICMarkets.

It has 20,000+ positive reviews on Trustpilot, regulated by ASIC, and has one of the lowest spreads in the industry.

Learn More 👉 https://tradingwithrayner.com/broker

And when you sign up with ICMarkets, you’ll get free 6 months of access to Pro Traders Edge (worth $294).

Here’s what you need to do…

1. Sign up for a live account

2. Fund a minimum of $500.

3. Place 1 live trade.

And that’s it!

Open an account now 👉 https://tradingwithrayner.com/broker

Disclaimer: I’ll earn a referral fee if you sign up with them. But they are reliable in my opinion (as of this writing).

Trading can never replace the consistent income of a job.

Because it’s not a job—it’s a business.

The Parabolic Stock Trading Strategy Guide

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[Make it painful to not follow your trading plan]

Here’s the thing:

Just because you have a trading plan doesn’t mean you won’t have itchy fingers.

Because you might lack the discipline to follow your trading plan even though it’s good for you.

(Kind of like how you don’t eat enough vegetables even though you know it’s good for you.)

The solution?

Be accountable to someone. It could be your spouse, a friend, or someone you trust.

Let them know whenever you deviate from your trading plan, you’ll be penalized.

The penalty could be something like:

• $50 donation to your favourite charity
• Wash the toilets for a week
• Do 100 push-ups

You want to make sure the pain of not following your trading plan is greater than following it.

This way, the mind gravitates toward the least amount of pain which is to follow your trading plan.

This means your actions become consistent and you get consistent results.

The Complete Guide To Trading Sideways Markets

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Trading = Spending years to acquire a skill so you can be free for the rest of your life

How To Use Fibonacci Retracement (The Definitive Guide)

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Trading is not a job.

It’s a business.

An identity of the 5%.

An individual who is in control.

A belief that you can achieve when others fail.

An expression of your thoughts, feelings, and attitude—without discrimination.

Trading is freedom.

The Complete Guide to demo Trading

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[Don’t trade based on other people’s opinions]

In today’s age, you can easily access a ton of information from Twitter, Facebook, trading forums, etc.

The problem is…

It hurts your trading results.

Here’s an example. Imagine…

Someone posts a chart on Tesla and explains why he is bullish on it.

Next, there are 100 thumbs up and a flood of comments agreeing with the analysis.

So you quickly buy the stock of Tesla hoping to make a quick profit out of it.

Now here comes the critical part…

What if the price of Tesla drops 30%?

Do you sell, hold, or buy even more?

You don’t know because you’re trading based on the opinion of someone else.

You might be wondering:

“Well, I’ll just ask the original poster for an update on Tesla.”

Then one of these will likely happen…

1. He sold his position for a small profit and you didn’t know about it

2. He sold his position for a small loss but you’re still holding the stock

3. He doesn’t reply to you

Either way, you’re on the losing end.

Do you see what I mean?

So, never trade based on the opinion of others.

They won’t tell you how long they plan to hold the trade, when to cut loss, and when to take profit.

Ignore the noise. Get your hands dirty. Stay accountable to yourself.

The Definitive Guide on How to Set a Stop Loss

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Stop loss and position size go hand in hand.

If you increase your stop loss, reduce your position size.

If you decrease your stop loss, you can increase your position size.

Understand their relationship and you'll never blow another account.

The Essential Guide To RSI Indicator

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[The financial markets are rigged, but…]

Yes, the financial markets are rigged against you.

Those with deep pockets can “temporarily” move the market to trigger stop losses and options expiry levels.

So the way I see it, you have 2 choices.

You can blame the system but it won’t get you anywhere besides more losses and frustrations.

Or, you can learn how the game is played and profit from it.

The choice is yours.

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 blame others, then you’re not taking 100% responsibility.

If you don’t take 100% responsibility, then you give up the power to change.

If you give up the power to change, then you’ll never make it as a trader.