- Establish explicit rules for protecting paper gains.
- Identify trading style & goal before entering trade.
- Develop greater tolerance for drawdowns. Eliminate Peewee Paper-hands trading.
- Get more out of your winners.
Overview: Great trade day preparation. Trust your levels & trade them. As you build more of a cushion this will get easier.
Trade 1 Key Takeaways: Establish explicit rules for protecting paper gains. Know your trade style & your goal. Cultivate your tolerance for drawdowns. Could have traded more off EMAs, after level break price bounced off EMAs beautifully. Otherwise, solid trade. Followed plan & did protect profits, just need to do even better now. Perhaps build out game plan entry to have spot to put entry price in to calculate everything for you in real time.
Trade 2 Key Takeaways: Need to get more out of your winners. Identify style you’re trading before hand & stick with it. Judge performance based on selected style.