Hello traders! Here I would like to present to you another personal market psychology trading plan that I believe is effective for all traders ranging from beginners to advanced . Do you have a trading plan? Most don’t. It’s very important to create a set of fixed rules that you will always follow when you are trading! The key word here is trading – not investing. Investing has a completely different set of rules when finding the right entry and profitability of your account; however, here I will be showing you the sole principles of my own trading strategy that I believe has worked for me over the past years of trading. If you follow these steps correctly, I believe you will have the golden ticket to a much more profitable future, and if applied correctly, you will be having more winning trades than losing.
The 7 crucial steps:
1. Understand what timeframe you want to use
2. Risk management is key – don’t over leverage, use a certain percentage
3. Market trend – make sure to follow the trend, don’t be trade against it
4. Types of markets – do you trade mostly stocks? Bitcoin? Forex? These are all good for
5. Entries – make sure that you have the correct entry. Don’t rush into the market
6. Stop losses are crucial – especially when you are away from the charts
7. Targets – do you know where you want to exit?