By Casey Stubbs
This is going to be an interactive post I would like to get as much participation as possible because I believe that by being involved it will help you take the actions that are necessary to get you into profitability.
First I would like all of you to make an honest assessment of your trading. Good or bad we must assess or we are not going to improve as traders and we all must work to improve.
Are your profitable?
Definition of profitable is 3 consecutive months making money in your account while managing risk properly.
If the answer is Yes:
than please post below in the comments and also include some steps that can help you to improve your profit levels.
If the answer is No:
please post in the comments as well and then post about how you can use the steps I outlined in my article to help your trading become profitable. I will then follow up with a joint program we are developing that will help you create profitable trading strategies.
Now lets get to the article:
3 Easy Steps to Guaranteed Profitable Trading
I have spoken to many many traders that give up before they become profitable traders. I tell you that this should not be. The only reason for this is because traders consistently make trading errors that can be easily avoided.
At Winners Edge Trading we don’t play around with these types of trading errors, we eliminate them from our trading and we teach others to do the same. So once and for all I want you make a decision to eliminate the errors that are destroying your profits in your trading account.
If you need further help you can learn about our personalized coaching and trading our accounts to help you gain the discipline you need to be profitable in your trading. By joining this webinar tomorrow.
#1 Trading Plan
The first thing you need is to have a solid plan trading plan. I cannot say this enough because I know that most of you that are reading this post do not have a plan and if you do have one, you are not following it. Write a trading plan that includes entries exits and risk management if you can do this you are well on the way to a profitable trading career. You can do it! Just make up your mind and make it happen. Here is a link to an article that will help you develop your own trading plan.
#2 Manage Risk
It is important for you to make a decision on how much you are willing to lose on each trade, before you make the trade. Right now take a look at your trading account statement and analyze your losing trades. If you see trades that are over 2% you should consider making some adjustments to you risk management.
#3 Find High probability Trading Setups
This is much easier than most people think, if you manage risk well you can be profitable with lower losing percentage. For example if you have a risk of one and a reward of 3 than you can win under 30% of your trades and still be profitable. There are many strategies you can find on the internet at no cost that will help you achieve this. You can find many strategies on this site to help you look for some good ones.
Also watch this video to help you identify the benefit of managing risk.
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