This is THE biggest biggest part in regards to trading. I would go as far to say that you could use any strategy out there (from a reputable trader) and be profitable if you implement the right Risk Management.
If you can learn, understand and master how to apply risk management you will know;
- How NOT to fail at trading
- How to trade profitably
- When to stop trading for the day
- When the market is right for you
- Which trades suits you best and maximises your profitability
- Overall being able to trade profitably CONSISTENTLY and making a good amount from trading.
The thing is everyone that is failing is because they don’t bother learning the basics. Everyones (generalising here) too busy learning the wrong things. I know risk management isn’t fun, to be fair trading isn’t supposed to be fun its a job that you need to master.
So be it that the fact we emphasise on the fundamentals of the markets, finance, risk management or someone else out there it really is the number 1 thing to focus on.
So now that you understand how important it is, lets move onto how to make it work for you. How can you trade profitably, how can you become a full time/part time trader, how can you make trading work for you? how some easy steps could make trading be a part of your life.
Now without giving away too much and defeating the purpose of my course.
1st and foremost in regards to trade, are you risking a set amount for every trade? If not why not? I ALWAYS say this to people who ask me about trading and why they cant make money in the long run. Why are you rushing to be rich?
Why are you rushing your trading?
Why trade every opportunity?
Put it this way if your in a rush to be rich, you’ll also be in a rush to be broke.
What ever happened to slow and consistencyly over time – compounding effect! Now I am guilty I have been in this position as well and I have over traded many many times with risk out the window.
Because quite frankly making money from trading isn’t hard its keeping it thats hard. I still remember the days when I started seeing 4 figure wins, 5 figure wins. But at the same time the risk was WAY over proportionate in regards to my equity.
So the point is, risk what you can and never over extend yourself to put yourself in a position to face palm.
If you win the trade it shouldn’t make or break you, if you loose the trade it shouldn’t make or break you.
You should trade with consistency, small profits and compound them up.
$500 here, $250 here, $150 here and another $100 here suddenly your up $1000. 10 more times thats $10,000.
Doesn’t that seem fair?
Now its hard to stay on track sometimes so its important to have a team, thats why I love trading with others. You hold yourself accountably.
Anyway I don’t want to post too much in here as you might get bored reading!
If you enjoyed it please leave a reply and let me know you enjoyed it, any questions give me a shout on discord !
Lastly if you want to join the course and support the website please DM or just join through the website!