3 Easy Ways To Improve Your Trading
Elevate your trading game with this quick and easy wins
Improving Your Trading
Last week I hosted a webinar “Elevate Your Trading Game”
You can watch a recording of that here.
Towards the end, I shared what I believe are ‘easy wins’ for a trader. Easy wins as in quick minor adjustments to improve your trading performance.
Here are my top 3.
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1 Take fewer trades
Most traders trade too much. And I get it, trading can be fun… But every time you take a trade you are risking capital. Is every trade you take really worth risking capital on? Probably not.
2 Limit the number of trades on the same idea
Taking a trade, getting stopped, taking another, stopped… You get the idea. We’ve all been there. Drop the ego. Have a few goes at the trade and then leave it. Wait for the next market sequence, you don’t need to keep chomping away at that one small idea. Preserve capital.
3 Have a hard daily stop-loss limit
Does this need any explanation? You might “get it back” but you and I both know once you dig that big red hole for yourself, recovery is slim and the chance of trading on tilt is high. Have a hard stop, then when you hit it, do the tough thing and walk away.
Watch the webinar for the other 5. (Skip to 35 mins if you are short on time)