To Be a High Probability Trader, You Must Ask the Following Question for Every Trade
Many people enter the stock market for various reasons.
For some, they have a 401K retirement account with their job.
For others, they have some savings that they accumulated over the years.
Which ever way they entered the stock market, they all have the same goal - "Financial Freedom!" Despite brands hopes of financial freedom, many investors leave the market having paid their trader's tuition.
They entered the market with dreams of the lifestyle of the rich.
Six months later, these same investors leave the stock market with their fingers burnt and nightmares of trades gone wrong.
The obvious question is "Why?" The simple answer is that most investors are not prepared.
They failed to develop some of the key routines and habits of successful traders.
These habits and routines included:
Yet, if they take the time to develop a trading plan which emphasizes High Probability Trading Setups, they would be well on the way to becoming successful investors.
For some, they have a 401K retirement account with their job.
For others, they have some savings that they accumulated over the years.
Which ever way they entered the stock market, they all have the same goal - "Financial Freedom!" Despite brands hopes of financial freedom, many investors leave the market having paid their trader's tuition.
They entered the market with dreams of the lifestyle of the rich.
Six months later, these same investors leave the stock market with their fingers burnt and nightmares of trades gone wrong.
The obvious question is "Why?" The simple answer is that most investors are not prepared.
They failed to develop some of the key routines and habits of successful traders.
These habits and routines included:
- Have A Trading Plan
- Understands the Playing Field
- Trades when the Odds are in your Favor
- Trades for a reason, to make money
- Know how to Cut your Losses and Let Your Winners Run
- Works as Hard after the bell as you do intraday
- Full Control of your emotions
- Has Realistic Goals
- Ability to Distinguish between High / Low risk Trades
- What is the Potential Reward of this Trade
- What is the Risk of this Trade
Yet, if they take the time to develop a trading plan which emphasizes High Probability Trading Setups, they would be well on the way to becoming successful investors.
