Sunday
May 4, 2025
16:00:07
R E M E M B E R
- Its trend trading - react to the price, don’t predict it
- Always go with major/minor trend & market structure
- Mark Key Levels
- Categorize & Adapt
- SL/TP should always be defined before the trade and never during the trade - always based on explicit price levels
- Don't FOMO into big moves
- There are no missed profits if any rule didn't apply
- Don't ever think that you are missing out/are leaving money on the table if any rule didn't apply or you didn't have time to trade
- Have patience and as little reaction as possible
- Don’t diddle in the middle
- Just do not trade when there is no clear structure
- Have a strong market view and adjust to the overall market → always keep the higher TF in mind
- Keep a trading & forecast journal and keep reviewing them
- Always track entry, exit, thoughts; everything. On every trade
- Admit that you were wrong (do not let losers run; trust your SL/TP levels)
- Things to avoid:
- Hindsight Bias → we tend to think that events in the past were easily predictable; they were not
- Taking a trade for the fun of it
- Catastrophizing: assuming the worst/best possible outcome
- We can’t remove emotions; we can only change the way we react