ilmscore | Prediction Details
"in order to do that you need to master three main ingredients to your trading success they start out with your strategy or your edge over the market that is the first step and what i'm showing you in this video can make you or get you to a point of having an edge over the market if you do everything correctly i'm not that's no guarantee i'm not sitting here guaranteeing you profits if you trade exactly like this there's a lot more that goes into trading than just knowing the strategy itself so having that edge over the market is the first step the second step is having a risk management plan that one keeps you from blowing your account initially two keeps your head right while you're trading keeps you out of your emotions you're not going to this volatile emotional state every time you click the buy or sell button a lot of you watching may be going through that it's not like i haven't been through it there was times in my trading whenever i would click the button when the market was here for a buy trade and as soon as it started going down i got literally depressed as soon as it started going up i was calling my friends and asking if they wanted to go out that night told them all i had drinks it was no problem let's do it like i've been through all of the emotions and then it goes down again and eventually i end up losing that trade have to call my buddies back and say hey sorry we can't go out tonight or at least it's not on me if we do and that's like it's a terrible thing it really does take a massive amount of emotional stability to stay in trades like this or a little bit beyond just staying in one single trade it takes a massive amount of emotional stability to stick to a strategy that's going through a drawdown which is why it is so important to have a good risk management plan that keeps your emotions at bay even during drawdowns where you lose three or four trades in a row i did a video yesterday or the day before where i was talking yesterday actually where i was talking about having a full trade losing streak on a strategy that produced sixty percent accuracy i still had a four trade losing streak now if you're risking five percent per trade and you get that four trade losing streak that's twenty percent of your account twenty percent drawdown is pretty heavy especially in just four trades that's gonna cause you to go running back home and say screw trading or switch strategies or get super emotional and try to revenge trade eventually blowing your account it causes all kinds of mess so risk management is number two on the triangle to trading success which is what i call this we have our strategy or the edge we have over the market we have a risk management plan and the third step is just staying disciplined"
By The Trading Channel (The Trading Channel) | July 27, 2020 | Pending
From video
How I Use The BEST STRATEGY I Know To Pick Profitable Trading Opportunities 00:07:40 - 00:10:12
Interpreted Prediction
The speaker predicts that a profitable trading career is achievable by mastering three key elements: a profitable trading strategy (edge over the market), a robust risk management plan, and strict discipline.

Prediction Details

Topic
Trading Success

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