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Why does most trader lose?
Most new and experienced traders all lost to these. Most wish they had learned it earlier.
You will win if you learn to follow your rules.
Recognize when you violate your rules you will win.
Recognize when you comply with your rules, you will win.
Rules:
Start with small risk.
Increase risk if comfortable.
Reduce risk if on a losing streak.
Increase back up if on winning streak.
After a trade win or lose, wait for next setup
must be at lease 10 min til next trade
Don't add or average down if PL is negative
Add or re-enter if PL is positive if you have cushion
Never increase your size by more than 2X
Stop trading with 3 losses in a row
Stop trading if risk to reward is more than 2
Stop trading if you're feeling MOMO
Document all your trades
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