To become a profitable trader do a deep reflection
The key to success in this business is to develop depth on a setup.
First, select your trading timeframe
Then select a market structure that works on that timeframe
Then, develop multi-dimensional depth on that setup
Break down each element of that setup
Ask a series of what-if questions
What if I enter early
What if I enter the next day
What if I enter before a breakout.
What if I entered only after volume confirmation
What if I entered only with a news catalyst breakout
What if I entered in the afternoon
What if I put a stop near the support
What if I put a stop at the consolidation low
What if I do not put a stop at all and manage by position sizing
What if I exit on a fixed profit
What if I exit on the third day
What if I increase the size
What if I only trade low-priced stocks
What if I trade only high-priced
What if I trade only low-float
What if I trade only high dollar volume
What will I do if my position goes up 10% the next day
What will I do If 3 trades in a row do not work
When should I move my stop
How much should I move
When does this setup work best
Do I need to use SA filter with this setup
How can I reduce my stop
How can I increase my per-trade profits
How can I anticipate trades
How can I be consistent with this setup
Why does this setup work
Why only 3 days
Why
How
When
Where
If
Ask and clarify and reclarify.
This is only possible once you narrow down the timeframe and setup
If you can do this, then you will need
And all it takes to develop this kind of depth is 4 to 6 weeks of intense deep work
Very few traders will do that.
So if you can do it, you will be ahead of everyone
Walk, run, bike, and think. Reflect.
Remember what Nietzsche said: “It is only ideas gained from walking that have any worth.
3 comments:
Articulated very well and to the point. Thank you for sharing your wisdom Pradeep Sir.
Thanks Sir!!
Wow what a nice read. I have 4-6 weeks uninterrupted time, I just need to add intense deep work.
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