You don't need to be a more disciplined trader.

You need a trading system that gives you an edge.

This gives you confidence and conviction in yourself and your system.

Your discipline is a by-product of it.

[How to set proper profit targets (hint: it’s not about your risk-reward ratio)]

I laugh to myself whenever I hear traders comment:

“You must have a minimum of 1:2 risk-reward ratio if you want to be a profitable trader.”

Now let me ask you…

What’s so special about having a 1:2 risk-reward ratio?

Why not have a 1:10? Or even a 1:100?

So here’s the truth…

The market doesn’t care about your risk-reward ratio—it goes where it wants to go.

The only thing you can do is, observe what the market has done previously, and use it as a clue to where it might go in the future.

For example:

If the market previously collapsed at $100, then the next time it approaches $100, there’s a possibility of selling pressure coming in at that level.

As a swing trader, you don’t want to set your target at $105, $100, or $110 because the market might not get to that level due to selling pressure.

Instead, you want to exit your trade before opposing pressure steps in which is before $100 (around $99 or so).

This means if you’re in a long trade, you’ll want to exit your trade before:

–Swing high
–Resistance
–Downward trendline

(And it’s just the opposite for a short trade)

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).

Today, we have Pham Van Bang on the show!

He is a low profile person and you probably never heard of him.

But Bang is one of the best options traders in Singapore, having made millions from options trading.

What’s interesting about him is, he tried to escape Vietnam during the war and failed. Two times!

So he had no choice but to make do with whatever little he had and claw his way upwards—and today, he is a multi-millionaire.

So during my conversation with Bang, you’ll learn:

• How did Bang go from nothing (not even speaking English) to becoming a director at P&G and eventually becoming a multi-millionaire

• Why options trading and not stocks?

• Why he is a net seller of options (and not a buyer)

• How to validate if a trading strategy works or not

• Why he chose to keep his full-time job for many years even though he’s a successful options trader

Sounds good?

Then go listen now: https://youtu.be/T8WvHvHt3YY

Trading isn't some online business where you can start with nothing.

You need money to make money.

Stochastic Indicator Explained

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Discover how swing trading can improve your trading results and profitability—without spending hours in front of your monitor

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

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How To Apply Risk Management In Forex (The Complete Guide)

Learn More 👉 https://www.tradingwithrayner.com/how-to-apply-risk-management-in-forex/

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If trading is 80% psychology, then monks will rule the world. Instead, it's a combination of math, logic, and psychology.

Discover swing trading strategies that work so you can profit in bull and bear markets

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

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[Consistent actions lead to consistent results]

I remembered my first trading system.

It was using Bollinger Bands—buy when the price is at the lower band and sell when it’s at the upper band.

Using this approach, I had 3 winning trades in a row!

I thought to myself…

“This is it!”
“This is wive life-changing money.”
“I can’t tell anyone less they copy what I’m doing.”

How naive.

Because the next 5 trades were losers!

So I concluded this trading strategy doesn’t work and look for something better.

Then, I chanced upon harmonic patterns.

(Basically, you use tools like Fibonacci retracements and extensions to draw patterns like Crab, Bat, Duck, Dinosaur, etc. as they’re supposed to predict market turning points.)

I spent 6 months learning how to draw these patterns.

As you can tell, I’m a slow learner.

And guess what?

The same thing happened!

I had a few winning trades followed by a series of losses.

Again the voice in my head said…

“This trading strategy doesn’t work. Let’s look for something else.”

So I went around searching for the holy grail.

I’ve tried different indicators, chart patterns, volume profiles, etc.

And the results were similar.

At this point, I’m starting to doubt myself.

I have questions like…

“Why does this always happen?”

“Why am I not getting consistent results in my trading?”

“Why do I make money at the start only to lose it all again?”

Now, do you know what I realized?

It’s me.

The problem lies in me.

That’s because I was hopping from one trading strategy to the next.

My actions were inconsistent. And because my actions were inconsistent, I got inconsistent results. Like duh!

So the bottom line is this…

If you want to be a consistent trader, then you must have a set of consistent actions.

Find a proven trading system that works, and follow the rules day in and out. If you can, consistent profitability is not far away.

And if you want to learn a proven trading system that works, then check this out.

Discover 5 proven trailing stop loss techniques to help you reduce risk and ride massive trends

Learn More 👉 https://www.tradingwithrayner.com/trailing-stop-loss/

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Professional traders:

Manage risk

Stay humble

Trade with an edge

Continuously improve Winning rate

Know they can be wrong

Focus on what they do best

Never let ego get in the way

Know when to stay out of the markets

Discover how to use Trend Line to better time your entries, ride massive trends, and “predict” market turning points

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

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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”.

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/

Trading as a business: How to successfully start one and avoid the common pitfalls that destroy most traders

Learn More 👉 https://www.tradingwithrayner.com/trading-as-a-business/

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No market trends all the time.

No range sustains all the time.

No strategy works all the time.

That's why you MANAGE RISK all the time!

Ed Seykota took a $5000 account and turned it into $15,000,000. Here are 19 powerful trading lessons you can learn from him…

Learn More 👉 https://www.tradingwithrayner.com/ed-seykota-trading-lessons/

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Wycoff Theory For Beginners (The Definitive Guide)

Learn More 👉 https://www.tradingwithrayner.com/wyckoff-theory/

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