PREPARING FOR BATTLE

Weekends are always an exciting time because you know between Friday and Monday there will be a significant number of trading opportunities. However there are times that when it gets to Saturday or Sunday you feel like you have just been completely ambushed by the markets and when it gets to Monday you are a wreck.

So I always like to feed myself with positive reminders of the need to stick to my trading plan and to understand I cannot bend the market to fit with what my expectation is for the weekend. Instead we take from the market what we can and if the market is unwilling to to give us anything then we use our stops i.e. reaching a maximum daily liability limit to protect our account and to protect us from ourselves (i.e. revenge trading, throwing our trading plan away and making crazy account wrecking trades).

Please listen to the latest edition of preparing for battle with Tom Hougaard.

Ultimately it really boils down to having a positive expectancy and ensuring your focus on win rate doesn't sabotage this. For more about the statistical parameters that really matter click here.

 

 

 


The key to success in trading is the ability to accept losing a battle whilst knowing you are winning the war

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