Wondering what is all about trading hacks?
In real-life trading, traders are mostly confused. That’s why more than 90% of traders always lose money in stock markets.
While trading, if you’re confused about whether to enter into a trade or not then disaster will happen.
So, before you trade, your mind should be neutral and must follow the price instead of predicting the market movement.
Normally, traders enter into a trade as soon as the stock market opens and then started to panic.
oh my god! For heaven’s sake! Please go up.
Sounds familiar?
Well if you think you’re doing the same thing then wait and go back one step.
Relax and just think about it.
Is it the right approach to do trading and risk your hard-earned money?
If your answer is NO, then you need to follow these 5 trading hacks before you jump into a trade.
I tried to explain how you can enter into a trade using the price action trading strategy.
You need to follow the 5 steps or trading hacks that help you to trade like a pro.
The 5 Trading Hacks are
1. Identify Market Structure
2. Wait for the stock price to come near the favorable zone
3. Entry Criteria
4. Exit Criteria: Stop Loss
5. Exit Criteria: Take Profit
So, all you have to do is to focus on your setup and all will be taken care of.
Once your setup validates a trade, then don’t overt think just enter into the trade.
Moreover, if things go well and the stock price started to move as per your direction then booked profit.
If the stock price is going southward, don’t panic as you have placed Stop Loss at the right place.
In case Stop Loss gets hit, don’t worry as it is a part of your business.
But But But…. never tried to change your Stop Loss if your trade goes wrong.
Keep your Stop Loss and Take Profit intact and never try to experiment with your trade.
Happy Trading!