Rules that gave me financial freedom 👇
1. Only take 1-3 high quality trades - Anytime I trade more than 2-3 times, I end up over trading because I get greedy. Emotions have no business when you're trading. ❌
2. If I lose $1,000+, do not trade the rest of the day - this rule helps me from revenge trading and keeps my emotions out of my trades. Anytime I lose a huge amount I have the urge to make it back and I ignore my strategy, causing me to lose even more money. This rule prevents that 💯
3. Set a weekly profit target not daily - a daily target is inconsistent because 9 times out of 10 depending on the stock plays, you wither make more or less. Having a weekly target is a better metric because you will ideally be able to make that money wither in one day, or 2-3 days.
It gives you room to trade on days where the market is choppy or if you're not up for it. Once I've achieved my weekly target, I do not trade for the remainder days in the week. Discipline is key 🔑
To make money, trade like a robot by implementing strict rules that make you stick to your strategy and eliminate emotions 🔥
Before 2024, everyone needs to create a set of trading rules and stick to them!
If you want to become a profitable trader, send me a DM with the word "TRADE"
Follow @youngbullinvestors for more!
シ #stocks #crypto #tradingview #daytrading #tradingtools #money #sidehustle #howtodaytrade #mindset #daytrading101 #motivation #daytradingstrategy #daytradingtips #fyp #stocktok #stockmarket #trader #fypシ
1. Only take 1-3 high quality trades - Anytime I trade more than 2-3 times, I end up over trading because I get greedy. Emotions have no business when you're trading. ❌
2. If I lose $1,000+, do not trade the rest of the day - this rule helps me from revenge trading and keeps my emotions out of my trades. Anytime I lose a huge amount I have the urge to make it back and I ignore my strategy, causing me to lose even more money. This rule prevents that 💯
3. Set a weekly profit target not daily - a daily target is inconsistent because 9 times out of 10 depending on the stock plays, you wither make more or less. Having a weekly target is a better metric because you will ideally be able to make that money wither in one day, or 2-3 days.
It gives you room to trade on days where the market is choppy or if you're not up for it. Once I've achieved my weekly target, I do not trade for the remainder days in the week. Discipline is key 🔑
To make money, trade like a robot by implementing strict rules that make you stick to your strategy and eliminate emotions 🔥
Before 2024, everyone needs to create a set of trading rules and stick to them!
If you want to become a profitable trader, send me a DM with the word "TRADE"
Follow @youngbullinvestors for more!
シ #stocks #crypto #tradingview #daytrading #tradingtools #money #sidehustle #howtodaytrade #mindset #daytrading101 #motivation #daytradingstrategy #daytradingtips #fyp #stocktok #stockmarket #trader #fypシ
youngbullinvestors
2024-03-26 12:55:35