+950 Short 💰
Had $LUMN on my watchlist today as I was waiting for the backside of this stock. I had 6.10 being a key level to start the backside, the plan was too short once it cracked below $6.00.
Make a plan, trade the plan, and repeat.
$LUMN Long + $635 📈
Almost stopped out on my initial entry. Once it broke the $4 level this thing was ready to rip again. Scaled into a bigger position and turned it into a nice green day!
Nice start to August. Following my plan and not taking random trades has really helped me!
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⏰ Tick, tock! The perfect ENTRY awaits. Black Friday on TraderSync plans - up to 65% off. Don't just watch, enter the market of savings now! 🏷️
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🚨 TRADERSYNC WEBINAR ‼️
- How to track and manage your emotions in TraderSync
- How to stop emotional trading
- Using data reports to find your A+ setups, and when you should and should not be trading
Monday, November 20th @ 4:00pm EST. Join here ⬇️
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Reflecting on your trading week is essential for growth and improvement. Three questions to ask yourself at the end of the week: 📝
1.) Did I Stick to My Trading Plan? Assess whether you followed your pre-defined strategy or deviated due to emotions or impulses. Discipline is key.
2.) What Were My Biggest Wins and Losses? Analyze your successful trades for patterns and your losing trades for lessons. Learning from both is vital.
3.) How Can I Improve Next Week? Identify areas where you can enhance your strategy, risk management, or emotional control. Continual improvement is the path to success.
Studying and reviewing your winning trades is one of the most effective ways to learn and improve as a trader. You want to find ways to do more of these trades and cut out the bad ones. But how?
A thread: Learning from Your Wins - Using your Trading Journal 📊
4 Steps to using your journal to improve and find your edge:
1.) Identify patterns and habits that lead to wins. Do more of these.
2.) Identify patterns and habits that lead to losses. Cut these out.
3.) Find ways to maximize your wins.
4.) Find ways to minimize your losses.
Do you know what is causing your trading losses?
Start with these 3 Tradersync reports:
1. Setups - What is your best and worst setup and why
2. Mistakes - How often are you making the same trading mistakes and what's causing them
3. Risk - Analyze your trades that are below 1R and why
If trading was just about learning technical analysis, there would be a lot more profitable traders.
Anyone can learn a trading strategy. Mindset is what separates successful from unsuccessful traders.
How to learn from your trading mistakes 📊
1) Track your mistakes
2) Find the top mistakes costing you trading profits
3) Understand why you make them and find the root of them
4) Make a plan to remove these mistakes from your trading
5) Execute your new plan, leaving those mistakes in the past
Overtrading is one of the #1 account killers. It is the urge to constantly make trades, driven by fear of missing out or desire for quick profits.
A thread: How to stop Overtrading using your trading journal 🧵⬇️