High Probability Trading Strategies - 3 Guaranteed Trading Strategies To Make Money In The Market
By Dave Lex
The most guaranteed trading strategy to make sure you make money in the market is to have a winning market mentality. That is the most crucial part of trading - you. Believe it or not, good trading comes from 10 percent methodology and 90 percent mental discipline. There is no point that you set out your trading plan but do not have the mental discipline to follow your trading plan religiously. For example, your trading plan states that you get out only when your stop loss is hit but the moment price starts to approach your stop loss, you adjust your stop loss further away from your entry and you end up losing more than you had initially planned. Therefore it is very important to be able to have the mental discipline to stick with your trading plan. Following are guaranteed ways you can ensure you stay in the market long enough to see yourself successful.
1) Protect your principal
As a trader, especially when you first start out, your main goal should not to be making lots of money. You should aim to preserve your capital. This way you will ensure that you will be in the game long enough to make money.
2) Trade to trade well, not to make money
It appears to contradict reality, but it doesn”t. Traders who routinely rake in big bucks don”t mentally count the dollars while they”re trading. The don”t tell themselves “Wow, i”m up 5 points in Google which means i”m up $5000!”. Nothing clouds your judgment more than dollar value of your trades. In reality you made be up $5000 with 5 points and you may see it as a big figure for maybe a few hours of work, but you might have a stop of 10 points. Meaning to say, if you were to close the trade now with $5000 profit, a loss on your next trade will automatically take you to negative $5000.
3) Not making trading decisions based on greed and fear
Greed motivates new traders and even many experienced traders. In the long run, you will normally lose money if you consistently trade based on greed. I”m sure you”ve heard the old saying of “Greed is the downfall of men”. And there is good reason for this saying because it is true. You should base your trading decisions as stated in your trading plan. This way only will you be able to know the exact efficiency of your trading system.
For traders, fear is the Goliath of emotions. Fear, which ranges from mild anxiety to gut-wrenching terror, causes more havoc in the trader’’s life than any other entity. Fear is the main reason why there are stock market crashes. Therefore you have to learn to contain fear, by displacing it with knowledge. Most traders gain a little knowledge and stop studying, thinking they know everything. It is important to never stop learning every day. The best way to overcome fear is through is faith in your tested trading plan. Only if you have faith will you be able to trade with confidence and you will find yourself being successful in the long run.
Therefore I hope you will implement these 3 guaranteed trading strategies and you will surely succeed in the markets.
About The Author
Dave Lex is a full-time trader and trades the forex and the US stock and options market. He also constantly test and develop trading systems to share with the public. For more information on how you can get one of his high probability trading systems for free, go to http://ProvenTradingSystems.com