The Real Rayner Teo

2024-04-17 03:59:58 Trading is not a job.

It’s a business.

An identity of the 5%.

An individual who is in control.

A belief that you can achieve when others fail.

An expression of your thoughts, feelings, and attitude—without discrimination.

Trading is freedom. Open / Comment

2024-04-16 15:26:23 Market Wizards: 4 Things I’ve Learned That Improved My Trading Results

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2024-04-16 04:02:14 [It sucks, but just let the price hit your stop loss]

Imagine:

You buy 1 standard lot of GBP/USD at 1.4300 and have a stop loss at 1.4250.

This means if the price drops to 1.4250, you will exit the trade for a loss of $500 (or 50 pips).

Now, this is fine if you allow your stop loss to do its job.

However, you might be thinking…

“I know the market is about to rebound.”

“I’ll look like an idiot if I were to sell right now and only to watch the market reverse higher.”

“Let me hold on to the trade for a while longer and sell at the next rally.”

And what happens next?

The market collapsed another 500 pips.

Eventually, the pain is too much to bear and you forced yourself to exit your position.

And because of your hesitation, a $500 loss amplified into $5,500.

So, the bottom line is this…

Honour your stop loss.

It’s there to protect your trading account even though it’ll make you look like a fool once in a while. Open / Comment

2024-04-15 04:01:15 Trading = Spending years to acquire a skill so you can be free for the rest of your life Open / Comment

2024-04-14 15:26:03 What Is A Trading Journal? (A Detailed Guide)

Learn More https://www.tradingwithrayner.com/what-is-a-trading-journal/

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2024-04-14 04:01:18 Trading can never replace the consistent income of a job.

Because it’s not a job—it’s a business. Open / Comment

2024-04-13 15:28:36 10 Price Action Trading Tips You Can Learn in 10 Minutes (So You Can Get Results Fast)

Learn More https://www.tradingwithrayner.com/price-action-trading-tips/

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2024-04-13 04:01:16 [If you’re a newbie trader, avoid this habit of averaging into losses]

Imagine:

You bought 1 lot of EUR/USD at 1.3000.

Shortly, the price dropped 50 pips and you’re down $500.

Now you’re thinking to yourself…

“I knew it, the market is out to get me again.”

“But wait… if I buy another 1 lot of EUR/USD, then I can quickly get out at breakeven if the price moves up 25 pips.”

“I’m a genius!”

So…

You buy another lot of EUR/USD at 1.2950.

Next thing you know, EUR/USD tanked 100 pips—which puts you at a loss of $3,500.

In other words…

If you had cut your loss from the start, it would have only been a loss of $500.

But because you gave in to your emotions and averaged into your losses, it grew into a $3,500 loss.

So the lesson is this:

If the market proves you wrong, get out of the trade.

Don’t average into your losers because it could snowball into something near impossible to recover from. Open / Comment

2024-04-12 04:00:17 How to reduce your fear of trading:

Don’t go all in.

Manage your risks.

Reduce your position size.

Trade with a strategy that offers an edge.

Not more than 50% of your wealth in the markets. Open / Comment

2024-04-11 15:23:50 Do you want to read the price action of the markets like a professional trader?

Then download a FREE copy of The Ultimate Guide to Price Action Trading.

You’ll learn how to better time your entries, “predict” marketing turning points, identify explosive breakout trades about to happen, and much more…

Click the link below and grab your copy, it’s free!

https://www.tradingwithrayner.com/ultimate-guide-price-action-trading/ Open / Comment