INVESTER MINER🇺🇸📊

2023-04-18 09:18:03 SELL GOLD: 1999

TP1: 1995
TP2: 1991
TP3: 1986

STOP LOSS:   2009 Open / Comment

2023-04-17 19:18:50 gold buy: 1987.67 - 1984.67

sl: 1981.67

tp1: 1990.67
tp2: 1993.67 Open / Comment

2023-04-17 00:01:42 Conclusion:

If you want to be in the top 5% of traders, then you must do things differently from the 95% of traders.
Here’s what you must do:

• Trade with a strategy that gives you an edge in the markets

• Understand the law of large numbers and that your trading results are random in the short-run

• Embrace the DERR method to improve your trading results

• Don’t follow news, opinions, or analysis—those are noise and it’s best to ignore them

• You’re always a student of the markets, keep your fire burning and never stop learning

• Have realistic expectations, you’re not going to get rich after taking a weekend trading course

• Have multiple sources of income so it’s easier on your trading psychology and you can quickly scale up your trading account Open / Comment

2023-04-17 00:01:26 Trading isn’t your only source of income:

After years of studying successful traders, here’s what I’ve realized…
Most of them have multiple sources of income. Because if trading is your only source of income, you will have the need to make money every month. This causes you to make poor trading decisions like widening your stop loss, averaging into losers, trading too large, etc. And that’s why many professional traders do not rely on trading as their only source of income. For example;
Ed Seykota, a Market Wizard, has a trading tribe that costs $99/month.

Mark Minervini, a Stock Market Wizard, offers a master trader program that costs $5000.

Most hedge funds (even the best ones) charge a management fee every year—even if it’s a losing year.
To put things in perspective, if you run a billion-dollar hedge fund and take a 1% management fee, it means you get $10m a year—guaranteed.
As you can see, professional traders and hedge funds structure their trading in a way that it’s not their only source of income. Open / Comment

2023-04-17 00:01:08 Have realistic Expectations:

Most people don’t have a realistic expectation of trading. They assume they could take a weekend course, master a few charts patterns, and then start generating an income from the markets. But here’s the truth:
Trading requires a professional skillset just like doctors, engineers, lawyers, etc.

You don’t graduate from medical school after a weekend course or become an engineer by learning a few mathematical formulas.
There’s a steep learning curve involved and you need time to gain proficiency (at least a few years or more). And it’s the same for trading.
You don’t become a trader just by memorizing a few patterns, setups, etc. Yes, you could make money from clicking the mouse but, there’s more to it that goes on behind the scenes (like developing your edge, risk management, position-sizing, etc.). So, give yourself time to learn how to trade. Open / Comment

2023-04-17 00:00:54 #4: Review your Trades:

If you’ve followed steps #1 to #3, then this is where the magic happens!
Here’s how…

1 Look at your trading journal and identify your most profitable trading setup—and trade more of it

2 Identify the trading setup that cost you money—and avoid trading it

3 Tweak your trading plan according to your findings

4 Repeat steps #2 to #4 again
And there you have it! Open / Comment

2023-04-17 00:00:34 #3: Record your Trades:

Then, you want to record down your trades. After all, how can you improve if don’t know what you’ve been doing? So here are the metrics you must record:

Setup – Type of your trading setup
Market – Market you traded
Entry price – Price you entered
Stop loss – Price level of your stop loss
Exit price – Price you exited
P&L – Your gain/loss on the trade
Also, you must screen capture your charts.

This means when you enter a trade, screenshot the chart that highlights your entry point and stop loss.
After the trade is over, screenshot the chart and mark out your exit level. Open / Comment

2023-04-17 00:00:21 #2: Execute Trades according to your trading plan:

Once you’ve developed your trading plan, then execute your trades according to the rules in your trading plan—and nothing else.
Also, you cannot change your trading plan after a few losing trades even though you might be tempted to do so. Why? Because in the short run, your trading results are random. And in the long run, it’ll be closer towards its expected value. This means you need a minimum of 100 trades, before coming up with a conclusion whether your trading plan works, or not. Open / Comment

2023-04-17 00:00:07 #1: Develop a Trading plan:

A trading plan is a set of rules to guide your trading so you can trade objectively and get consistent results.
To develop one, it must answer these 7 questions;

1 What is your trading timeframe?

2 Which markets are you trading?

3 How much are you risking on each trade?

4 What are the conditions of your trading setup?

5 How will you enter your trade?

6 Where is your stop loss?

7 Where is your profit target? Open / Comment

2023-04-16 23:59:43 How to improve your Trading results even if you have tried everything else and failed:

You might have tried things like chart patterns, trading indicators, price action, etc. and still not find any trading success.
Why is that? Because in trading, less is more. This means if you’re not getting the results you want, then take a step back and declutter—not add more. So let me introduce to you, the DERR method… Open / Comment