1- Find one repetable pattern on a specific timeframe and track it on excel to know the exact % win rate.
2- patterns are more powerful than technical indicators, imho indicators should be only used for signal entries and nothin more than that. Remember all indicators are lagging indicators so patterns remains more powerful.
3- the ability to master oneself and stay disciplined to wait and wait for your specific setup to CONFIRM.
4- DONT anticipate you must wait for CONFIRMATION only.
5- max loss per trade. Risk management is the king of the game and you must have a pre defined max risk per trade BEFORE you even enter into a trade.
6- use HARD STOPS. As soon as you enter into a trade you must set your hard stop immediately.
7- if new imho u must use max risk of 2% of ur equity on each trade as a max risk, if you are exprienced then you are allowed to use more.
8- Journal your trades, take screenshots of your charts with entries nd exits, as well as joirnal your thoughts before you trade, during and after you exit the trade. Remember this game is 80% psychology so tracking your emotions is KEY to success as a trader.
I wish you all success 🙏
The Bear 🐻
2- patterns are more powerful than technical indicators, imho indicators should be only used for signal entries and nothin more than that. Remember all indicators are lagging indicators so patterns remains more powerful.
3- the ability to master oneself and stay disciplined to wait and wait for your specific setup to CONFIRM.
4- DONT anticipate you must wait for CONFIRMATION only.
5- max loss per trade. Risk management is the king of the game and you must have a pre defined max risk per trade BEFORE you even enter into a trade.
6- use HARD STOPS. As soon as you enter into a trade you must set your hard stop immediately.
7- if new imho u must use max risk of 2% of ur equity on each trade as a max risk, if you are exprienced then you are allowed to use more.
8- Journal your trades, take screenshots of your charts with entries nd exits, as well as joirnal your thoughts before you trade, during and after you exit the trade. Remember this game is 80% psychology so tracking your emotions is KEY to success as a trader.
I wish you all success 🙏
The Bear 🐻