Daily Trading Mantra: You WIN trades..You LOSE trades..You MISS trades..Sometimes there are NO TRADES & you sit on your hands..This is TRADING!!
What is important is your approach. It MUST be the same way every time. CONSISTENT ANALYSIS = CONSISTENT RESULTS
Have a portfolio of the assets you have back-tested and you have proven for yourself that they have a positive expectancy.
(Download Demo for FREE & back-test one setup at a time on the sed portfolio)
I encourage you to back-test because it builds confidence in any system, forward-test to ensure you can replicate same back-test results, only then can you be confident to trade the system day in day out
IDENTIFY The Trade Setup
PREDICT The Next Market Move
DECIDE If Entry Criteria Is Met
EXECUTE The Trade With Stop Loss & Target Profits Set
Trading is NOT a get rich quick scheme. Its one of the most difficult endeavors.
1. Educate yourself on trading
2. Pick a strategy/indicator/system and master it. DO NOT jump from system to system
3. Know the ins and outs of that sed system, its limitations, strengths & weaknesses
4. There is no such thing as a holy grail. All strategies/indicators/systems experience a draw down (series of losing trades) the key is to go back to your back-test results and see how many losses in a row did you have and the system still gave you a positive expectancy over hundreds of trades
5. Trade one setup..one timeframe..pick one..master one..trade one !!
DEMO & back-test before you Rent..RENT & forward-test before you Buy..BUY & live trade after you are confident !!
PROCESS OVER OUTCOME..PROCESS OVER OUTCOME..PROCESS OVER OUTCOME!!
Forex, CFD Cash/Futures,Metals,Binary Options on ALL assets
Trade with a Complete Tool Kit!!
Trading made simple. Wide variety of trade setups.
Six timeframes. Nine Setups
Pick one..Master one..Trade one!!
Primus Trading Engine - Provides The Setup
Primus Smart Money - Confirms The Setup
I just missed an entry SHORT on the CADCHF H4 Chart..Primus Trading Engine left hand panel in favor of Bears with Primus Smart Money confirming Bearish cluster is more than Bullish cluster with Bears coming back into focus..well,it does not matter its on to the next potential setup because I know consistent analysis = consistent results
Took a High Probability LONG Trade on the USDNOK H4, stop loss set, target two set for about 1.2:0.8 reward to risk.
Primus Trading Engine is in Favor of Bulls with a 86% probability of success and current momentum is 50/50; Primus Smart Money confirms Bulls are more than Bears with Bulls coming back into focus;Also we have a price action signal in favor of Bulls as well as a Bullish Divergence according to Primus Smart Money;With this High Combined Technical Score I took the trade.
Looking for about 900 pips. Win or Loss it does not matter, its on to the next potential setup.
TRADE IDEA on the GBPAUD H4 Chart on a POTENTIAL LONG setup..Waiting for price to enter the 1.77298-1.76537 LONG entry zone IF Primus Trading Engine still shows high probability confluence for Bulls & Primus Smart Money confirms the same THEN it will be a good entry reason with stop loss @ 1...
TRADE IDEA on the GBPAUD H4 Chart on a POTENTIAL LONG setup..Waiting for price to enter the 1.77298-1.76537 LONG entry zone
IF Primus Trading Engine still shows high probability confluence for Bulls & Primus Smart Money confirms the same THEN it will be a good entry reason with stop loss @ 1.75594 + take profit target one @ 1.78060, target two @ 1.79003 & target three @1.80527