Weekly Trade Ideas Review
I'll start doing these videos at the end of each week to go over the 5 ideas I had posted posted for the previous week to see how things ended up playing out. I like the idea of posting the ideas beforehand to drill the point home that I am not making this stuff up after the fact. I think if you follow along with this series, you'll see that not only does TA work, but it works extremely well and some patterns can you give up to a 70% win rate.
You'll see that by planning your trades before each week will make things much easier on you. You won't have to be emotional, because you have a fully structured plan and you know exactly what to do in every scenario. You know when to enter, when to stop out, and when to take profit.
You don't have to decide on the fly while your adrenaline and emotions are running high, you just have to do what your trade plan says to do no matter what. You can't deviate, follow the plan. Risk should be taken care of before you take the trade, you know how much you're going to lose if wrong before you make the trade. What is there to worry about then? Sounds easy, but it is not. Some people say psychology isn't important, I say it is the #1 or #2 most important aspect of trading. You need to take emotions out of the game, a winning strategy will not help you if you can't execute it.
You'll see that by planning your trades before each week will make things much easier on you. You won't have to be emotional, because you have a fully structured plan and you know exactly what to do in every scenario. You know when to enter, when to stop out, and when to take profit.
You don't have to decide on the fly while your adrenaline and emotions are running high, you just have to do what your trade plan says to do no matter what. You can't deviate, follow the plan. Risk should be taken care of before you take the trade, you know how much you're going to lose if wrong before you make the trade. What is there to worry about then? Sounds easy, but it is not. Some people say psychology isn't important, I say it is the #1 or #2 most important aspect of trading. You need to take emotions out of the game, a winning strategy will not help you if you can't execute it.
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