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✏ Working on some coffee fueled refinements to the Trading Plan today. Most might think this means adding to it etc. but it's usually the opposite, as the ultimate goal for me is to make it as simplified and concise as possible.
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I think that's important because it makes it a lot easier to refer to and compare trades against (before or after).
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Currently my trading plan consists of a list of my Go To Setups, with the criteria bullet listed and one screenshot for each to add a visual element to it.
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There's also a section of Management and an explanation of certain situations where more discretion can be used.
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It's been a quiet one for me in the markets this week so it's a perfect time to focus on perfecting the craft with tasks like this and backtesting/forecasting
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Have a good weekend all.
If the market takes a really positive turn that you didn’t anticipate, don’t become greedy and make sure to take your profits while you can. The market can go against you at any given moment in times of high volatility and you will not forgive yourself that easily if you didn’t close that trade while in the green when the market goes red.
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More lessons and tips on our website: link in bio
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Trading is 90% mindset, 10% skills
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More lessons and tips on our website: link in bio
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Just because you didn't meet a specific deadline or achieve a goal within a certain timeline does not make you a failure.. not even close.. and you shouldn't let it get you down.
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I've missed a lot of goal deadlines over the years.. in fact I'd say I've taken slightly longer to achieve around 90% of my goals in general so far.. BUT I still got them done eventually.. And that's the important part.. the progress!
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I used to get down about missing a deadline by a few months but I soon figured out it doesn't serve me at all to be constantly disappointed when I miss a goal by a few months.. because at the end of the day the progression is there and things change as we push on.. we come across hurdles that may set us back.. but ultimately we are still moving forward!
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⛰ 'Sometimes when we're climbing a mountain we get so fixated on reaching the peak that we forget to appreciate the view.'
Diversifying your portfolio and investing in different assets prevents significant losses in one class and therefore helps to protect your overall net worth.
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More lessons and tips on our website: link in bio
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Don't let your losses get out of control and hurt your overall financial situation. Cut them while you can by having a stop loss in place.
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More lessons and tips on our website: link in bio
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'Breakthrough moments are often the result of many previous actions, which build up the potential required to unleash a major change'
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Some coffee shop chart work today mixed in with some talk about psychology and the journey of trading in general.
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One thing I can say for sure after hundreds of these conversations with different people is that trading will break everyone at some point in their journey.
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..Probably multiple times over. And it's only the ones that want it enough to put all the f*cking pieces together and go again that will make it in the end.
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Maybe only 1% of traders make it to consistency because they're the ones who simply refused to accept an outcome that doesn't end in success. .
Hope you're having a good week!
If unexpected events happen and things go wrong, just stick to your plan and everything will be allright as you know in advance the potential losses that can occur. We can’t stress this enough, having a plan and keep up with it each time you trade will help you greatly to remain in control of yourself which is crucial especially when dealing with unforeseen circumstances.
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More lessons and tips on our website: link in bio
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#eztrading #easytrading #trading #trade #tradesafe #tradinglesson #tradingtips #onlinetrading #onlinetrader #trader #traders #financial #finances #markets #financialmarkets #stocks #forex #commodities #crypto #cryptos #cryptocurrency #cryptocurrencies #tutorial #tradingtutorial #tradinghelp #tradingsignal #tradinginfo #tradinghelp #instatrading #technicalanalysis #financialeducation