I am trying to make certain tweaks to my trading plan, and the goal is to maximize my profits and minimize my loss. I would really appreciate your recommendations. Thank you
Thank you @ayokunlesheriff03. Believe me, the market taught me discipline. I learnt from my losses and I studied my winning trades, my psychological state when I placed these trades etc. Trading is work but it is worth it. Yes, I am a funded Trader, recently got funded with FT9ja. It's the best option for swing Traders, even day Traders too.
I'm a scalper too,1:2 on only GU... breakeven at 15 pips... Occasionally I do 1:4 if I see that type of setup. Working on starting an investment scheme by Jan 2023 as I can do 5-60% profit a month with 1% risk on a
@richardosu96 wow, only two trades a week?! You must be really disciplined. Please share more insights. I hope you don’t mind me asking, Are you a funded Trader? I mean prop firm funded because a lot of prop firms don’t really favour swing Traders. Please help a fellow swing Trader
Less is more, so trade less. I am a swing trader, I place only two trades per week, this helps me make better trading decisions and I am able to take trades with a higher probability setups. I’ve been doing this for almost 8 months now, and my win rate has seriously improved, not to mention, the high blood pressure this market gives me has reduced.
There is a rule I recently incorporated into my trading plan which is, never give back more than half of your profits to the market. For example, if price has moved 100 pips in my desired direction, I place my SL at 50pips+the entry. This has helped me close most of my trades in profit, you can try this to see if it suits your trading style.
Have a risk to reward ratio of at least 1:1 and stick to it. Have a clear entry and exit plan. If you can, trade one pair. Thank me later.
Thank you @ayokunlesheriff03. Believe me, the market taught me discipline. I learnt from my losses and I studied my winning trades, my psychological state when I placed these trades etc. Trading is work but it is worth it. Yes, I am a funded Trader, recently got funded with FT9ja. It's the best option for swing Traders, even day Traders too.
I'm a scalper too,1:2 on only GU... breakeven at 15 pips... Occasionally I do 1:4 if I see that type of setup. Working on starting an investment scheme by Jan 2023 as I can do 5-60% profit a month with 1% risk on a
Could have as much as 10-25 trades a
@richardosu96 wow, only two trades a week?! You must be really disciplined. Please share more insights. I hope you don’t mind me asking, Are you a funded Trader? I mean prop firm funded because a lot of prop firms don’t really favour swing Traders. Please help a fellow swing Trader
Less is more, so trade less. I am a swing trader, I place only two trades per week, this helps me make better trading decisions and I am able to take trades with a higher probability setups. I’ve been doing this for almost 8 months now, and my win rate has seriously improved, not to mention, the high blood pressure this market gives me has reduced.
There is a rule I recently incorporated into my trading plan which is, never give back more than half of your profits to the market. For example, if price has moved 100 pips in my desired direction, I place my SL at 50pips+the entry. This has helped me close most of my trades in profit, you can try this to see if it suits your trading style.