2021-06-11 16:05:23
People who say trading is easy are liars.
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It can be simplified after years of experience, but it’s never easy.
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It took us almost 4 years of learning and testing, switching strategies and losing until we found consistency.
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In order to not take you that long, we advise you to do the below steps if you are starting out:
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1- Forget about trading live for now.
2- Focus on building a trading plan and a risk management plan.
3- Go back and see if those rules actually work or not by back testing them.
4- If your strategy has a win ratio of 40% or higher using a 1:2 risk to reward ratio then open a small live account and test it for at least a month.
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Stop wasting time by skipping these stages and jumping straight into live trading, it’s actually sad to hear the stories that I receive on a daily basis from people who are losing their account, and when we ask them about the reason behind their trades or what is the risk management plan that they are using, they simply don’t know.
373 viewsedited 13:05
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