What is the one thing you did or changed that made your intraday trading consistently profitable?
- 1 repeatable trading strategy
- A clear set of rules
- Risk 0.5–1%
- Target a minimum of 1:2 R/R
- 10X more practice
- Journal every trade
- Correct every mistake
- Remain disciplined and consistent
Have you ever wondered why almost 99% of traders fail to become profitable?
The truth is they lack the discipline and consistency to follow a plan for more than a week.
This strategy hoping normally ends with no real profit and a ,loss of capital.
I challenge you to try this for 3 months.
- Develop a repeatable trading strategy which you can execute consistently and stick with it to build familiarity and confidence.
- Establish clear trading rules with specific criteria for entries, exits and trade management. The key is to have a trading rule to tell you what to do in every scenario.
- Manage risk by only risking 0.5% to 1% of your total capital per trade avoiding full margin. This will help you avoid gambling on trades and keep your risk low.
- Target a minimum of 1:2 risk/reward to ensure your potential reward outweighs your risk. The potential profit should be atleast twice or more than the potential loss to maximize the money we make and limit what we lose.
- Commit to practicing 10x more to refine and master your strategy. If you have never traded your strategy, take 100 practice trades before going live, this will help you understand the nuances of your strategy and improve your skill.
- Journal every trade to track performance and identify patterns. Record all trade details to see what’s working and what’s not. Refine what is not and double down on what is.
- Correct every mistake by analyzing and learning from your past trades. The quickest way to develop a trading edge is to review and learn from your mistakes to avoid repeating them and continually improve.
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