prochargedmopar wrote:Posted this in the Discord:
I really need to quit trading because:
1. I can't take a loss,
2. I can't trade with the trend,
3. My family would like me to come back home.
You can succeed, just:
1. do less of 'a'
2. do more of 'b'
3. given a + b, consider your hold as it relates to 'c'.
Allocate margin for 4 to 6 lots, for each pair that you trade, and include an additional 0.42857 of that amount in risk capital:
you can only lose 30% of your funds for each pair that you trade. . .
The formula for making money is well known:
1. minimize risk
2. maximize reward
We minimize risk a number of ways:
1. segregation of funds
2. smaller charts
3. scaling into trades
4. taking volatility into account
5. trading away from 'patterns'
6. having a solid exit strategy
We maximize reward by:
1. having the margin available to trade larger and hold for multiple days
2. getting size into the market
3. shifting your focus to a larger chart
4. having a solid exit strategy
5. setting aside the margin to trade even larger the next time around.
6. not exiting a rising market / not exiting because of 'feels'.
I'm not interested in every swing on an m1 chart, just the ones that can potentially result in large payouts.
The timeframe around which most retail traders are going to make money is a daily chart; focusing on small charts is generally how they get obliterated.
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