10 practical tips on how to have a profitable system to be a profitable trader
Let's start with what is our ideal, when we see the signals from the system on the historical chart - SL and TP then our "ideal" would be to make an entry and get to the TP a little "in a mechanical way". That is, the way an automatic would do it.
I will now give some tips that should not be new to readers anymore.
1. Rethink your goals, think about placing them in time. Think about what monthly goal (monthly profit in pips or money) would be appropriate to achieve them. This step will form the framework of the requirements you will set for yourself and the system.
2. Define the system: entry, position management, exit. According to these principles, prepare to execute the trade, when the signal comes.
3.Post-trade analysis should show what you didn't do, what you could have done differently, better, and where you possibly have weaknesses.
4. We should work on any issue that weakens and hinders us, whether it is a lack of mental strength, or debilitating beliefs, or, for example, their conflicts.
5. Our goal will be to first correct, then HQ the execution of the trade from the start (from the market analysis) to exit and initial analysis.
6. A good way to make "daily improvements" is to apply the Kaizen philosophy to trading, as described in a previous lesson.
7. Many traders have good systems, but make losses until they start working on themselves and eliminating their mistakes and weaknesses. This is why the trader makes money and not the system.
8. Having a plan, learn to execute it like a bricklayer who comes to work to lay a certain number of bricks in an expert manner. Your tools are constant study of mastering the system, meditation, relaxation exercises, tension control, breath control, control of internal dialogue. They will allow you to lay bricks in the right way - the way you have it written down in your plan and the way you have prepared for yourself before entering the market.
9. Start each day with a quick reminder of your long-term goals, this will keep you on the right course and path. This will "tune" your psyche in the right way.
10. A plan is the starting point for applying discipline, without a plan talking about market discipline makes no sense. Discipline in executing a single trade is not enough, you need the discipline of executing about a hundred trades in the time you specify.
Give it a boost 🚀 and drop a comment so we know to publish more for you. Cheers!
Follow: www.tradingview.com/u/drSwierk/
Let's start with what is our ideal, when we see the signals from the system on the historical chart - SL and TP then our "ideal" would be to make an entry and get to the TP a little "in a mechanical way". That is, the way an automatic would do it.
I will now give some tips that should not be new to readers anymore.
1. Rethink your goals, think about placing them in time. Think about what monthly goal (monthly profit in pips or money) would be appropriate to achieve them. This step will form the framework of the requirements you will set for yourself and the system.
2. Define the system: entry, position management, exit. According to these principles, prepare to execute the trade, when the signal comes.
3.Post-trade analysis should show what you didn't do, what you could have done differently, better, and where you possibly have weaknesses.
4. We should work on any issue that weakens and hinders us, whether it is a lack of mental strength, or debilitating beliefs, or, for example, their conflicts.
5. Our goal will be to first correct, then HQ the execution of the trade from the start (from the market analysis) to exit and initial analysis.
6. A good way to make "daily improvements" is to apply the Kaizen philosophy to trading, as described in a previous lesson.
7. Many traders have good systems, but make losses until they start working on themselves and eliminating their mistakes and weaknesses. This is why the trader makes money and not the system.
8. Having a plan, learn to execute it like a bricklayer who comes to work to lay a certain number of bricks in an expert manner. Your tools are constant study of mastering the system, meditation, relaxation exercises, tension control, breath control, control of internal dialogue. They will allow you to lay bricks in the right way - the way you have it written down in your plan and the way you have prepared for yourself before entering the market.
9. Start each day with a quick reminder of your long-term goals, this will keep you on the right course and path. This will "tune" your psyche in the right way.
10. A plan is the starting point for applying discipline, without a plan talking about market discipline makes no sense. Discipline in executing a single trade is not enough, you need the discipline of executing about a hundred trades in the time you specify.
Give it a boost 🚀 and drop a comment so we know to publish more for you. Cheers!
Follow: www.tradingview.com/u/drSwierk/
