Muneeb Ansari @ma_doge - Twitter Profile

ma_doge retweeted

almost 3 years ago

If you're trading, your #1 mistake when going long or short will be constantly looking @ your open position P&L. Have a plan and stick to it. If your targets for profit arrive, respect them instead of "just a little bit more**", or do a large TP and move your SL into profit level. If you get stopped (on profit or on loss), let it do so and find new opportunities. You need to accept the loss and learn from it. If the play isn't going as you expected, your analysis was wrong. If you will be trying to avoid losing trades you will never become successful. N-E-V-E-R. **You had an initial plan, with TPs and your stop-loss***, but because price is aggressively going on your direction, you want more, and you begin disrespecting your plan. It could even go well here and there, but you're destroying your Discipline and you will ultimately lose. ***If you had an initial stop-loss set, why are you adding size/increasing your SL when price is about to kick you out of the play? Look at CAPO with a rookie mistake, always adding size because price is going against him. That's how you get absolutely REKT. It doesn't matter if sometimes you can get out of this "underwater" position doing this. You're relying on hope more than anything else, and the most likely outcome is: REKT. On the other hand, if you're on winning positions, you can increase size on pullbacks/retracements into 🗝️ levels where you do not see an MTF/HTF BOS. This isn't what he's done as he was adding to shorts to avoid getting stopped. The whole play was a disgrace and you don't need to be a Pro-trader to realize this to be true. No 2 trades are the same. There's no 1-strategy-fits-all either. You need to learn how to identify how optimal certain levels are, and risk more on the most optimal levels rather than just random LTF levels or trying to make $ fast. You can, but on those plays you risk less. You don't choose when to make $. Not at beginner to intermediate level of skill. At least you shouldn't. You should find the levels, set alerts, and wait for those notifications (and you should write a note on the alerts because sometimes they can take a while to hit and you will not remember the reasons why you had your alerts on). If your goal is to make a lot of $ every year, you should do it this way. If your goal is to play the game, have fun, gamble often, then you can just fuc* around. Have a "plan B" for every single trade. Think 3+ moves ahead. The greatest players on whatever sport are the greatest because they're thinking 3+ moves ahead, such as in Snooker, Golf, Tennis, Chess, and many others. If you don't have a plan and if you're not thinking 3+ moves ahead and price starts going against your expectation, you will most likely enter "analysis-paralysis" and begin taking stupid decisions that will be costly. When you're planning a trade, think about what you will do if you get stopped or if you get front-ran into the next level of liquidity. Journal your plays, accumulate 100+ trades, and then assess performance. If bad, then you need to change your strategies as they're not working, but without a track-record you will be no more than running after your own tail and losing consistently, until you eventually give up, but this is the most life-changing opportunity you've ever bumped into, so i would focus on doing it right if i was you. Winning is easy. Losing is hard. Nobody goes undefeated all the time. If you can pick up after a defeat, and go on to win again, you are going to be a Champion someday.

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Muneeb Ansari

@ma_doge

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