Please disable Ad Blocker before you can visit the website !!!
thumbnail

Getting Started

by Emporos   ·  July 30, 2020   ·  

Getting Started

by Emporos   ·  July 30, 2020   ·  

The beginning of your trading career.

Trading is a zero-sum game. Anyone can play, you must first see if you have what it takes to thrive in this game. The skills you learn will carry over into all manners of your life. Not only that, most of the challenges you will face are in your head. Just knowing how to keep your emotions in check will allow you to absolutely crush the next crypto bull market. So read on these chapters are meant to help guide you along the way to profitability.

Chapter 2

What is a profitable trading system?

A profitable trading system is a way to gain an edge in the markets. This is your personal edge, and is unique to you. The hard part is finding your style, and this comes with experience. Now here is the good part, I will share with you some of the most important aspects of a profitable trading system.

You should make sure to be using a journal, this is key not only for keeping your emotions in check, it also helps when managing positions and creating ideas. I use edgewonk to study and track my trades. My trading system is focused on the strike rate of the setup or idea. I target high probability plays that target 3 times the amount you risk. (3R) For example, here is one of my standard blueprints. In further chapters I will show you the extra variables that go along with them.

Idea: -Long Aussie currency pairs.

Risk: -2-6% of total trading captal per trade

Reward: -3x my risk

IRR.

Idea, Risk, and Reward.

IRR will make up the bulk of our trading system. For everytrading system one needs to define assets to trade, entry/exit points and money management rules. But there is much more to it than that. Remember the key for any profitable trader is to find your style.

In upcoming chapters, I will go over the different styles of trading and the barriers you should overcome before you attempt to take your first trade.

Leave a Reply