Indefinitely Traders who are not happy with number of trades they take or the outcome are simply making an obvious mistake
And this can be corrected, allow me let you in on a little that may help !!
And Yh !! Thank you 7k Epic Twitter Frens
A piece solely just for you💯❤️❤️
⬇️
And this can be corrected, allow me let you in on a little that may help !!
And Yh !! Thank you 7k Epic Twitter Frens
A piece solely just for you💯❤️❤️
⬇️
Now there's this thing called a traders Risk Tolerance when trading..... sounds new ??
Now firstly what do you know about tolerance ?
-Tolerance is simply actions or turnouts in our lives that we can manage to live with happily and grow into !!
A traders risk tolerance is..
Now firstly what do you know about tolerance ?
-Tolerance is simply actions or turnouts in our lives that we can manage to live with happily and grow into !!
A traders risk tolerance is..
That particular amount he or she is willing to risk/loose in a particular trade in order to earn back a sum.
Now this can be an Intraday Risk tolerance or a weekly risk tolerance whichever he or she decides depending on the type of trader you are.
When you've noted this..
Now this can be an Intraday Risk tolerance or a weekly risk tolerance whichever he or she decides depending on the type of trader you are.
When you've noted this..
You need to as well peg this to the minimum amount of reward you can win on a trade and be happy
N/B This Risk Tolerance should bear the amount you can afford to loose and stay comfortable, I won't say "Happy" because losses aren't something to be happy about. 😅😅
N/B This Risk Tolerance should bear the amount you can afford to loose and stay comfortable, I won't say "Happy" because losses aren't something to be happy about. 😅😅
So this Risk tolerance should be that amount you would loose and be in good mental state at the end of the trading day.
Understood that yet ??
I'm sure you'd understand properly if you haven't when you read through again😅
The next question I would treat is one I'm mostly asked
Understood that yet ??
I'm sure you'd understand properly if you haven't when you read through again😅
The next question I would treat is one I'm mostly asked
Now most of the time I get asked alot
"BOSS I analyzed 5 setups and entered only one & at the end of the day, the other 4 played out accordingly whilst the one I entered went south ways, plss why's that ??"
Well I'm not the owner of the financial Market neither does it Belong to
"BOSS I analyzed 5 setups and entered only one & at the end of the day, the other 4 played out accordingly whilst the one I entered went south ways, plss why's that ??"
Well I'm not the owner of the financial Market neither does it Belong to
My dad😅😅
But there's a discipline I always play according to whenever I'm entering trades.. this is it⬇️
Taking account your risk tolerance and min reward you should have a certain % of your portfolio(pf) you use as your Margin when entering a position !
Let's use $50 for this
But there's a discipline I always play according to whenever I'm entering trades.. this is it⬇️
Taking account your risk tolerance and min reward you should have a certain % of your portfolio(pf) you use as your Margin when entering a position !
Let's use $50 for this
Now for this Analogy
Let's say in a particular trade your risk tolerance is 1% and your min reward Is 5% (by min reward you get the English already right ?? Means 5% and above, but 5% should be least)
Let's say I'm on 20x on both
With $50
It goes down to 20% loss, 100% profit
Let's say in a particular trade your risk tolerance is 1% and your min reward Is 5% (by min reward you get the English already right ?? Means 5% and above, but 5% should be least)
Let's say I'm on 20x on both
With $50
It goes down to 20% loss, 100% profit
The maths is simple (20x lev times the Risk tolerance and min reward)
Technically it means I'd be out of the trade with -$10 loss and +$50 if on profit
What I do is this
There's a certain number of positions I've disciplined myself to keep open per number of Analysis
Technically it means I'd be out of the trade with -$10 loss and +$50 if on profit
What I do is this
There's a certain number of positions I've disciplined myself to keep open per number of Analysis
No matter how enticing my analysis is
I open only 3 active positions daily
I can have more than 6 on pending orders but if 3 gets activated I'd close the rest !!
Let's say at the end of the day 2 of my trades hit SL and one goes in Profits
Theoretically I'm still in profit
I open only 3 active positions daily
I can have more than 6 on pending orders but if 3 gets activated I'd close the rest !!
Let's say at the end of the day 2 of my trades hit SL and one goes in Profits
Theoretically I'm still in profit
2 losses would be = $10 + $10 = -$20 loss
And profit would be +$50
Factor that in ---> $50 - $20 = $30
You understand now ??
Some persons would whisper to themselves what if they all hit SL 😅😅
If they hit SL I've lost $30 and I can stay comfortable with that loss for the day
And profit would be +$50
Factor that in ---> $50 - $20 = $30
You understand now ??
Some persons would whisper to themselves what if they all hit SL 😅😅
If they hit SL I've lost $30 and I can stay comfortable with that loss for the day
I've been following this with discipline for a while now and I've rarely gotten streak of losses on all the trades and this has kept me steady in Profits
Truth is that if you're good with you're Analysis this should be difficult for you
If you'd want to
Truth is that if you're good with you're Analysis this should be difficult for you
If you'd want to
Backtest on a much larger scale all you need to do is, reduce your position size and you're good to opening more position
Well afterall this is subjective to your trading plan
Anyways that'd be pretty much it
I've been away for weeks due to my professional pharmacy Exams
Well afterall this is subjective to your trading plan
Anyways that'd be pretty much it
I've been away for weeks due to my professional pharmacy Exams
But I'd be done this week and back to steady sharing of value on here
I'd share a thread on an Ultimate Flip TA maths strategy in coming week
So hit the bell icon to turn on post notification so you're first to see it when it drops
And don't forget to like and retweet 🥺❤️
I'd share a thread on an Ultimate Flip TA maths strategy in coming week
So hit the bell icon to turn on post notification so you're first to see it when it drops
And don't forget to like and retweet 🥺❤️
And Thank you once again for 7k of you here
It's with Deepest Gratitude I say thank you
Big ups to everyone of us here
The sky is ours❤️❤️❤️💯
It's with Deepest Gratitude I say thank you
Big ups to everyone of us here
The sky is ours❤️❤️❤️💯
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