⚡️Weekly Recap & How to Properly Manage your Trade⚡️ for FX:NAS100 by Slickpapi

Hello Traders!

Firstly, congratulations to everyone who took the sell with us we managed to secure 200points and a 1:6 risk to reward✨

As usual, I used supply and demand to capture the move

You can find it in other posts below.

Today I will be giving you a secret that will grow your trading account .

I’m sure a lot of us just want to put one big order and one tp and just hope for that tp to get hit,

But in reality nothing is guaranteed in this market and the sooner you understand that ,the sooner you will crossover to the “consistently”profitable side.

1. ✨ Always have a risk to reward Greater than 2 ✨

This one is clichè but it really is essential. Have a good RR will keep you in the game longer especially during those uncertain times when the market consolidates. It means you will still stay up even when your win rate declines

2. ✨Split Position into 2-3✨

This one is an underrated topic however it is really what takes you to the next level. Have you ever had your perfect setup and you enter your position hoping to catch those 200 pip moves, then the market moves 150 pips and comes right back to your entry point and proceeds to hit your stop,,yup that hurts, but if you had split your order by then you would have taken 3/4 of your position out and be risk free just letting the market unfold with your final order.

3. ✨Take Partials at the first Take Profit✨

This one is self explanatory however I’ll just add this quote for you to always remember in the market

You’re your own CEO

“Never miss the opportunity to pay yourself first”

Remember you’ll pay the broker commissions

4. ✨Breakeven and ReEnter only if your opportunity is still valid

Breaking Even can be a pain when the market gives you profit and turns back to your entry point

But if you mix this with taking partials it can do wonders for your account

It helps you to pay yourself, remove risk and give you the opportunity to reevaluate the situation and reenter,

Remember we are up against big banks who want to take every opportunity to get their orders filled

Someone at wall street might have just entered a 1k lot against your position and moves the market rapidly,you can’t and won’t know why it happened but if you focus on what you can control by moving stops to breakeven you protect your account.

I hope you guys can get something that can improve your trading

Stay blessed


Most Related Links :
usnewsmail Governmental News Finance News

Source link

Back to top button