I’ve had handful of my students arrived at me and ask me.. so Charles, how can I fix my trading ? Somebody that has been 3 years on this business but havent yet achieved being consistent on the market
The answer really depends as to the type of traders you are, but the main are fear and greed.. I know… you've got read this many many times however its true, trading is simply learning “what you shouldn’t do”
many traders closing the entire trade when it gets 1:1 ratio, not implementing these trades due to fear or basically being greedy, thinking theyve had a runner and 2:1 isnt enough.
You will need to understand that nothing on this business is sure.. we don’t know.. we don’t know if a stock is gonna run .20cents or 2 dollars, nobody knows. Hence the only thing we are able to do is being defensive, take something in the trade in order to earn some cash and letting the rest ride. Letting the trade ride ? yeahh..but placing stop at the entry, doing this we don’t have nothing vulnerable. If it keeps on going..awesome !! whether or not this doesn’t.. we are out with the gain of our first partial.