im Sylvester and im from Cape Town South Africa, been trading and learning for a few years but im not profitable as yet eventhough i have soo much info about trading i simply dont have the edge or im just struggling to put it all together and work out a system , so im here to see if i can find something that can help me as trading basically took over my life since i started reading up on it as the idea of working from home is just so appealing! I want this bad more than almost anything!
I want this bad more than almost anything!
And this is probably why you’re struggling, Sylvester. First of all, get your trading mindset in equilibrium with your lifestyle and work pattern. This is crucial for mental stability.
What is your trading style? What charts do you trade off? List out what works for you and what doesn’t. By doing more of what works and less of what doesn’t, is your edge.
Then focus on risk/reward, say 1 - 1.5 and money management of 1% capital risk maximum per trade. Always think in terms of percentages, NEVER money. Once that psychological technique is in your head and mind, you’ll automatically be making the right financial decisions at the right time.
Finally, be patient and disciplined throughout your trading time. If in doubt, find reasons for NOT entering a trade and trust your gut and intuition at all times. If you’re thinking about it, don’t trade.
Hope that helps. Take care and stay safe.