5 Uncommon Rules of Traders
In fact, I’d bet that deep down you know you should be following these rules as well but you aren’t – yet. Today is the day you can commit to doing what works for other wealthy traders and get on that same path. . . Let’s get started. . 1. They plan every single trade. EVERY SINGLE ONE. Every trader I’ve talked with that makes money consistently knows the following about every single trade they take before they even begin entering a limit order into their trading platform: The highest price they are willing to pay (if they are going long) or the lowest price at which they are willing to sell (if they are going short) Their profit target where they will exit if they are “right” Their stop loss where they will exit if they are “wrong”The risk/reward ratio of the trade The exact percentage of their account they are risking Lots of traders do one or two of these things. Few do all of them. In simple terms they know exactly what they want to pay, how much money they anticipate making (or losing) and a very clear idea on the probability of the trade working out. [...]
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