What I’m constantly thinking about, is how to become more profitable, while at the same time making our profits commensurate with our time involvement. Watch my video below:
If you have been where I’m at with regards to trading, surely, you must have experienced those moments when you’re there placing a trade that’s probably more than you should be trading, and if you’re also on IQ option, you see that while you’re climbing the leaderboard, you’re only really just breaking even, or even, making a loss.
At those times, you probably felt like, “Damn! I should be getting paid more for all this trouble!”
In fact, when I lose a trade, even when i’m off-webinar, when no one sees, I actually get disheartened. Because I wonder, there must also be other people feeling the same way I feel. Tensions, self-reproach. It’s not about whether we win in the end. It’s more like, sometimes a win doesn’t feel like a win. I reckon you’ve been there, done that, and know EXACTLY what I’m talking about.
Indeed. For the time that we spend, for the money that we sometimes risk, and for the accounts we have carelessly blown in the past, many of us haven’t been very Profit-Efficient, and that we should certainly work towards being MORE SO.
I few things that I’m working toward which I feel that you might also want to work toward include:
- Reduce Risk
- Reduce Stress
- Increase Reward
Would you agree with me, that trading is something you would do more of (even if you’re already some sort of tradaholic), if, if you could do these 3 things?
What’s the solution?
The solution is something I have always discussed. Time and Analysis.
We can just trade and trade, or we can trade and review our actions.
“Learn From Our Mistakes AND Our Successes”
A loss or a success is meaningless unless we know EXACTLY how we messed up or how we succeeded.
Remember a while ago in a FB live I introduced the concept of “Test, Scale, Switch”?
Watch it HERE if you missed it or need a recap.
Very often, if I messed up, or I felt that I made a new discovery, I won’t hesitate to switch to demo or to small $1 trades, and see if it works with riskier money management.
Truth of Trading: With the proper money management, any accuracy rate can be made profitable.
I encourage you to look into these things I’ve mentioned, and make it your goal this week to become a more profit-efficient trader.
To help you in this task, I would like give you a 4 learning questions.
- How Much Am I Currently Making/Losing For Every Minute That I Trade?
- How Can I Trade Make More Winning Trades In Less time?
- How Can I Take The Same Trades With Less Stress?
- Looking At My Results, Would Trading With Or Against The Trend Work Better For Me?