Here is my A to Z guide on Improving Trading Consistency (food for thought):
(A) Prepare and research more before each trade, trade LESS. Plan before trade is made, ONLY manage afterward.
(B) Rate setups from 1-10 stars and ONLY trade 7-10. Less is always MORE.
(C) Entry, Entry, Entry, Entry !!! This alone will greatly improve your win/loss %. Its your way/entry or no trade !!!
(D) Thoroughly study your losing trades to find common flaws and FIX them.
(E) Few key lessons ever learned from winning trades, KEY/CRUCIAL lessons learned only from losing trades.
(F) NEVER pat yourself on the back on winning trades, instead ALWAYS study/consider what/how could have executed even better.
(G) Don't waste your time/energy/concentration on marginal ideas, all they do is take away focus from where its truly needed.
(H) When looking to short, ALWAYS make sure there is enough meat on the bone first or stay away.
(I) Don't focus just on price action, concept of TIME is simply CRUCIAL and probably significantly more important.
(J) If you trade strictly based on fundamentals you are a FOOL, if you trade strictly based on technicals you are a MORON.
(K) VERY patiently allow trading setups to develop and come to you, NEVER chase and avoid being early at all cost.
(L) You are much better off missing a trade than be early in your short entry. Always another trade around the corner.
(M) React/Analyze PRICE action to TIME of action, have to match. Any significant divergence = red flag, RUN/stay away, not walk away.
(N) Fuck your emotions, be a STONE, plan for all possibilities BEFORE initiating trade, NOT afterwards.
(O) Risk management is CRUCIAL, but entry and timing will ALWAYS dictate your risk management. Act accordingly.
(P) Understand the NEWS, Understand the NEWS, Understand the NEWS, Understand the NEWS, Understand the NEWS.
(Q) After understanding the news thoroughly, try very hard to see/appreciate/imagine how easily or not the news is pumpable.
(R) Understand the float # and total share count, any warrant implications. This will help in determining entry and size.
(S) Start with fully understanding the fundamentals of the company/news/event, ONLY then focus on technicals, entry and timing.
(T) Avoid over trading and boredom trades at all cost. If need be, discover PORN to pass the time. LOL
(U) Even if no open trades, doesn't mean you have nothing to do. Watch/observe/analyze/look for trends/research/etc..
(V) Time to trade? Trade HARD with all your focus/attention/dedication. Time to play/enjoy life? Do it HARD also.
(W) Trading 1-2 hours a day ain't going to take you to the next level. Only hard work & ultimate dedication WILL !!! Money never sleeps.
(X) Fully understand your strengths and weaknesses in trading, look for and select trading setups accordingly.
(Z) Various types of relative strength & relative weakness are the trading bible & guide for intraday trading. Message 29390810
Happy Trading
Michail Shadkin
@EpicaCapital |
