One trade isn't going to change your life. But 1000 trades with a positive expectancy will.
❤75👍20🔥17
The Inverted Hammer (A Definitive Guide)
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❤17👍6
[You don’t need to monitor your trades the whole day]
You might have heard the saying...
"You need to monitor your trades all the time to be a successful trader."
Nope.
Instead, you need a trading routine that works. One that doesn’t require you to stare at the charts all day.
So here’s a template you can use…
Example 1: You have a full-time job
–Weekends = Identify potential trading setups for the week
–Before work = Identify setups that are triggered and place your orders
–Lunch time = Check your portfolio and see if your trades are executed
–After work = Journal and review your trades
Now, what if you are a day trader?
Example 2: You are a day trader
–Before market hours = Identify potential trading setups for the day
–Market hours = Set alerts when the price comes to your level and trade it according to your plan
–After market hours = Journal and review your trades
Now…
Regardless of the type of trader you are, you must devote time to planning.
Because if you fail to plan, then you plan to fail.
You might have heard the saying...
"You need to monitor your trades all the time to be a successful trader."
Nope.
Instead, you need a trading routine that works. One that doesn’t require you to stare at the charts all day.
So here’s a template you can use…
Example 1: You have a full-time job
–Weekends = Identify potential trading setups for the week
–Before work = Identify setups that are triggered and place your orders
–Lunch time = Check your portfolio and see if your trades are executed
–After work = Journal and review your trades
Now, what if you are a day trader?
Example 2: You are a day trader
–Before market hours = Identify potential trading setups for the day
–Market hours = Set alerts when the price comes to your level and trade it according to your plan
–After market hours = Journal and review your trades
Now…
Regardless of the type of trader you are, you must devote time to planning.
Because if you fail to plan, then you plan to fail.
👍55❤43
Disadvantages Of A Trailing Stop Loss (An Explanatory Guide)
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❤13👍7
How To Avoid Overtrading
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👍20❤12
There are 4 possible outcomes:
1. Small win
2. Small loss
3. Big win
4. Big loss
Eliminate #4 and you’ve taken a big step forward.
1. Small win
2. Small loss
3. Big win
4. Big loss
Eliminate #4 and you’ve taken a big step forward.
👍96❤37🔥8
The Essential Guide To Forex Lot Size
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❤22👍8
[Don’t demo trade for too long]
So, how long should you demo trade?
One month?
Four months?
One year?
The truth is that it depends…
If you’re a day trader, then you may want to consider demo trading for one month
If you’re a swing trader, however, then you may want to consider demo trading for three months
The concept is that the higher the frequency of your trades are, the less time you should do demo trading, and if the frequency of your trades is lower then it’s the opposite.
Remember…
Your goal in demo trading is not just to test whether your strategy works.
But to see whether or not your trading plan or trading routine is for you so that you can make tweaks along the way.
So, how long should you demo trade?
One month?
Four months?
One year?
The truth is that it depends…
If you’re a day trader, then you may want to consider demo trading for one month
If you’re a swing trader, however, then you may want to consider demo trading for three months
The concept is that the higher the frequency of your trades are, the less time you should do demo trading, and if the frequency of your trades is lower then it’s the opposite.
Remember…
Your goal in demo trading is not just to test whether your strategy works.
But to see whether or not your trading plan or trading routine is for you so that you can make tweaks along the way.
❤60👍23
The Complete Guide To Divergence Trading
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👍14❤7🔥2
Find your trading edge, then work on your psychology.
You'd be surprised how many of your psychological issues stem from not having an edge.
You don't see a casino hiring psychologists, do you?
You'd be surprised how many of your psychological issues stem from not having an edge.
You don't see a casino hiring psychologists, do you?
👍65❤24🔥15
What Is A Trading Journal (A Detailed Guide)
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❤21👍10🔥3
[Get out of demo trading and start small]
Now…
It doesn’t matter whether you want to start with $100, $500, or $1,000.
What matters is that you get out of demo trading.
Start trading live.
Start trading small.
And start practicing good trading habits.
I know the feeling of being nervous when live trading for the first time, and that’s okay.
But if you start small first to build confidence, instead of going all-in with your family’s wealth (I damn hope not)…
You’ll find yourself in an excellent spot to start trading and put yourself in an environment to keep on improving as a trader.
Sounds good?
Now…
It doesn’t matter whether you want to start with $100, $500, or $1,000.
What matters is that you get out of demo trading.
Start trading live.
Start trading small.
And start practicing good trading habits.
I know the feeling of being nervous when live trading for the first time, and that’s okay.
But if you start small first to build confidence, instead of going all-in with your family’s wealth (I damn hope not)…
You’ll find yourself in an excellent spot to start trading and put yourself in an environment to keep on improving as a trader.
Sounds good?
❤120👍33
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/
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/
❤24👍8🔥5
You don't need to be more disciplined.
You need a trading system that gives you an edge.
Once you have it, you "naturally" become more disciplined.
You need a trading system that gives you an edge.
Once you have it, you "naturally" become more disciplined.
❤83👍25
Chart Patterns Cheat Sheet
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❤15🔥13👍6
The Definitive Guide To Dark Cloud Cover Candlestick Pattern
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❤22👍8🔥4
Why You Lose Money With Technical Analysis (And How To Avoid It)
Learn More 👉 https://www.tradingwithrayner.com/why-you-lose-with-technical-analysis/
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❤30👍4🔥2
Trading one strategy with discipline beats 10 strategies without discipline.
Stay focused my friend.
Stay focused my friend.
❤83👍26🔥17
The Best Stop Loss Strategy (An Essential Guide)
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❤19👍5
[A stop loss order will save your trading account, here’s why…]
A stop loss order is a type of order that gets you out of a trade automatically.
It means that you don’t need to stare at your charts the whole day and try to scare your pants off as the price approaches your stop loss order.
Now…
I’m not going to lie to you…
It hurts taking a loss…
Even if it’s just a losing trade.
But how would you feel when your stop loss order got hit, and the price went against you even more?
Except…
You’re not there to take the hit.
You feel relieved, right?
Not only do you free up space on your portfolio early to look for better trading opportunities.
But you also prevented a huge potential loss.
Can you see why this is important?
That’s why you can think of a stop loss order as a “risk police” that prevents you from losing more money or having unexpected losses.
A stop loss order is a type of order that gets you out of a trade automatically.
It means that you don’t need to stare at your charts the whole day and try to scare your pants off as the price approaches your stop loss order.
Now…
I’m not going to lie to you…
It hurts taking a loss…
Even if it’s just a losing trade.
But how would you feel when your stop loss order got hit, and the price went against you even more?
Except…
You’re not there to take the hit.
You feel relieved, right?
Not only do you free up space on your portfolio early to look for better trading opportunities.
But you also prevented a huge potential loss.
Can you see why this is important?
That’s why you can think of a stop loss order as a “risk police” that prevents you from losing more money or having unexpected losses.
❤53👍17🔥5