How to become a successful trader with any Indicator or method

EnrichWave

Master Trader
May 15, 2018
381
97
74
India
How to become a successful trader with any Indicator or method..
To become consistent successful trader you need to be consistent in Risk Management & Psychological.. And you need to modify your RR (Risk, Reward) as per your trading method result (Check your trading method for 100 trades, 50 times which mean you need to check total of 5000 trades)...

For example. If your trading method goes positive 30% of the time, you need 1:3 RR to go in profitable...... If your trading method goes positive only 10% of the time, you need 1:9 RR to go breakeven......

Important Notes:
Never forget to setup the Stop Loss


That's It trading.. It is that much simple in Theory..

When comes to practical
You need to train your mind,.. To alter your mind. There are some methods which is more effective.

First and most important.. Do some exercise after you woke up and completed basic routines of life (emptying stomach and brushing teeth), You may take shower, it is not important, But taking shower after exercise is most important.
I recommend Yoga, Pranayama and Meditation. Those are most effective for both body and mind..
(Some people may thing the Yoga,Pranayama and meditation for some group of people's. It is not like that. Those things are made for humans).

Final Words...
What methods will not(never) work.. (very low probability for winning)

Taking orders random without having an trading edge...

Taking orders randomly and believing on God to push the price for your favor
This method will never work... I mean the probability of winning trade is extremely low
 

ChelseaR

Trader
Dec 2, 2024
22
7
8
25
Interesting post and you’re absolutely right! Trading might look simple in theory but the practical part is the real hustle and meditation has been working out pretty well for me. Do you adjust your RR ratio or keep it the same for different pairs?
 
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David79

Trader
Nov 7, 2024
45
4
9
36
I believe consistency in risk management and mindset is the key. I stay disciplined and focused on the process, rather than hoping for luck, really makes a difference for me.
 
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EnrichWave

Master Trader
May 15, 2018
381
97
74
India
That makes sense! Does 1:2 risk-reward works well for you overall?
Nope... as an experienced trader, I always change them according to price action,,. If I feel bad about my trend analysis.. I close even at 1 : 0.5, some times I close with small losses too (before hit the SL).. The changes are inevitable in the financial markets.... Experience traders will think like "trade is not rocket science" which mean it will not touch the exact price points,...

I suggest new traders always stick with the plan in RR section. Thinking like "Trading is Rocket science".. After experience they can change the rules according to their analysis.

BR
 

David79

Trader
Nov 7, 2024
45
4
9
36
Nope... as an experienced trader, I always change them according to price action,,. If I feel bad about my trend analysis.. I close even at 1 : 0.5, some times I close with small losses too (before hit the SL).. The changes are inevitable in the financial markets.... Experience traders will think like "trade is not rocket science" which mean it will not touch the exact price points,...

I suggest new traders always stick with the plan in RR section. Thinking like "Trading is Rocket science".. After experience they can change the rules according to their analysis.

BR
Good point! I think the same that sticking to the plan is key, especially for new traders. It is all about adapting as I gain more experience.
 
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