What Makes Taking Losses Scary?
The absence of a sound trading model and impeccable Risk Management.
You fear losses, because you don't know your model, it's efficiency and yourself.
You will lose, given enough opportunities trying.
A sound model in the hands of a capable, sober-minded Trader, that employs impeccable Risk Management, prevents fear of losses; and replaces it with concern over KPI's.
The more you know...
1) Determine a Draw On Liquidity - where Price is likely reaching; like NWOG, PDH\PDL, Session H\L.
2) Wait for opposing liquidity raid, during or immediately after a 10\50 Macro.
3) Entry on 1st FVG in the present price structure or use IFVG in the run to opposing liquidity to your Draw On Liquidity.
4) Frame your risk to 1% or less, Hard Stop Loss placement beyond Candle #1 of the FVG you used for entry.
5) Take 50% of position off at half of the range between your entry and the Draw On Liquidty, the balance limit out just before your Terminus.
Wash, Rinse, Repeat... nothing fancy or complicated.
Traders don't want insane amounts of money.
They just want:
- to be their own boss.
- to wake up late.
- to live however they want.
- to be able to help their families.
- to work from everywhere in the world.
- to never ask for permission again.
- to escape the 9-5.