STOP JUMPING FROM ONE TRADING STRATEGY TO THE NEXT
You need to pick a trading strategy, commit to it and then perfect it. Rain or sunshine, stick to it. Success will follow when you do that.
One of the reasons many traders are not making money at all is that is that they are jumping here and there. This is called trading system hoping.
Now every trading strategy out there has its weakness. For example, if you are using a moving average cross-over strategy, you know that this trading strategy is a really good if the market is trending nicely. If the market is ranging or going flat, you will get too many false signals and your stop loss gets hit.
What happens when a trader starts using a system in a market condition that is not good for using this system? The system won’t perform well. So after a month of trying this strategy, he thinks the strategy is rubbish and looks for another one to try. But if he could have just waited one more month, the system could have performed extremely well and all the trading loses for the previous month could have been insignificant compared to the profits he could have made.
Now, the trading system is all about rules…when this happens, you buy here or sell here. That’s what a trading system does.
A trading system does not tell you to over trade.
A trading system does not tell you to take trades even when you know you you shouldn’t but you did anyway.
A trading system does not tell you take revenge trades to recover your losses…in fact revenge trades cost you more-you lose more in doing that.
All these actions are self-sabotage actions cause by the trader himself/herself.
You’ve got to be able to learn to handle losing streaks. Even though it can be emotionally nerve wrecking, you’ve got to stay cool. You need to continue to follow your plan even in losing streaks. Don’t panic, don’t worry. Eventually the system will win if you stick with it.
As I said above, every trading strategy is designed for certain market conditions. If the current market condition is not good, that’s where loses come in.
So right now you may be in a market condition where the trading strategy is getting beaten up so bad. But you’ve got to stick with it during the storm. Don’t jump ship yet. See it through. Maintain your risk per trade-if your risk 1% per trade, make sure you stick to that.
Don’t force trading setups to happen by going to other timeframes where you would not normally go. Don’t try to look for other types of trading setups based on other trading systems you’ve used before. You need to maintain consistency…
Trade the same setups time and time again.
The storm does not last forever. A sun always shines after a heavy rain has ended.
I am telling you all this because the RSI strategies that I am going to teach you in this course are working very well. But I know that what I just explained might happen to you so I want to prevent it. These strategies are profitable and if you want to make money in the market you have to stick with it.
Do you want to learn how to use RSI like the top 1% do?
You cannot use a tool invented 40 years ago in the same way that most people are using it and to expect the market to reward that! Join me and I will teach you how to use it with an edge!
RSI is an ultimate powerful tool used in technical analysis.It has perfect accuracy which generates perfect Buy and Sell Signals.I have explained everything about this indicator in my course.
We will go very deep and you will learn how to use RSI in many different ways for different purposes.