Edge
- MS - Market structure
- IZ - Institutional Zone
- LQ - Liquidity
- QF -> S + D
Trading plan
- Back testing
- Forward testing
Why most fail??
Lack of confidence
- Early
- Hesitate
- Late
60% Win Rate, 500 trades - 5 trades in a row fails
Loss -> Blown the account
Decision by logic, not emotions
Strategy syndrome, shiny strategies syndrome - hop around strategies, execution is the problem, but think the strategies hopping - Instant gratification
NetFile - Uber Eat - Social media -
Trading - Trade - Fast result, least
New & Improven
Any strategy -
- LS
- D
- U - uncertainties
Fear or Greed - Mental edge - if you make money in the long run
Calm and calculated - Emotional
Take notes and what to learn
Trading in the Zone
Truth #1: Anything can happen
Anything can happen at any point of time in the market on my given trade
- Because thre are always unknow forces operating in every market at every moment
- It takes only 1 trader somewhere in the world to mess your position up
- Trading is not about predicting the future because it cannot be done. If you accept this fact, it is much easier to take losses without destroying your self esteem
- For each trade you take, you don't know the outcome.
Truth #2: You don't need to know what's going to happen next in order to make money
Trading is a probability game
- When you really believe that trading is simply a probability game, concepts like right and wrong or win and lose are no long important
- Trading is like rolling a dice or flipping a coin. Will you get mad or feel stupid when you don't roll a winning number? Or when the coin does not land on heads?
- No because with a dice or a coin you accept the fact that you cannot knwo the outcome. You have no expectation. Apply the same idea to your trades and save your self esteem.
- Think 5 moves ahead like a grandmaster in chess
- React and adapt to the market, never ......
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