The perfect trade exists but let us not invest too much effort into the perfect trade or trading system. Reality is that every trade will look different and your results more than likely will also differ.
Your preparation and management of each trade really
If you find yourself in and out of trades all the
Over the many years I have been trading I have only ever had two very brief conversations about trading with my father, keeping in mind that trading has been a big part of my life. He is very quick to point out that trading is just gambling and that can be true for some traders and those that have little or no understanding of the subject.
The perfect trade is not the result but your approach to preparing for the trade and how you manage this trade. Let’s list some components that make up the perfect trade regardless of win or lose.
- Determine your risk as per your personal risk model.
- Place your opening STOP as per your risk %
- Make your trade entry as accurate as possible.
- Know where you need to take initial profits to fund the trade.
By getting the above in
Do not go chasing the perfect trade or perfect system just focus on the process on how to prepare yourself for each trading session and managing the trade.
I have written a comprehensive Ebook on trading and how to avoid most of the mistakes you can make. What many beginning traders don't realize is that psychology plays a crucial role in your success.
Happy Trading, Steve.
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