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How do you gain confident in trading?

From my very last article about planning your trades and having a goal, have you done anything so far?


SIMSCI


For those who has a trade plan on Emolines, Monday Emolines are still showing positive. Two buy opportunities and price traded to HTF-PAPLines (resistance).


On Tuesday, market start to reject from HTF-PAPLines, since the Emolines have not flip, traders are NOT suppose to do anything. (I hope you're discipline enough to follow trading rules).


Wednesday, Emolines flip, sell signals start to appear from Wednesday till Friday. Seven trades for this week.


Let's assume you can afford 3 lots per trade, this week SiMSCI generated S$4,470 on using Emolines.

SiMSCI H1 -- Feb 26 to Mar 2, 2018

For those who are sniper trained on using Fibonacci as their trading tool, as we are trading on intraday, we almost always closed our position in less than an hour for a single trade plan.


Take last night as an example, Chap Gor Meh - the 15th day of CNY, 6E (Euro Futures) giving our 2 consistent traders a big ang pow! They both deserved the ang pow from the market as they are the one who consistently follow their "simple trade plan".




6E -- Mar 02

From 9:10pm entry to 9:50pm exit, this trade only took us 40 mins to complete.


The monetary rewards again depend on your position sizing.


Consistent & confident


When I asked some traders, why didn't you take this trade? The typical answer is: I am not sure whether I should take the trade, it might fail!


Last night when we are having a small gathering with some traders to celebrate Chap Gor Meh, Tom shared this and I thought it was so good and so true.


He said:


Trader A: Asking 100 times of whatever trading questions they have in mind and continue to trade without concrete plan


or


Trader B: Practice 100 times on the same strategy that was taught by the trainer


Who do you think will have confident in taking the trades and make it as a professional trader?



Have a nice weekend.

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Futures Trading is speculative and is not suitable for all investors. The risk of loss in trading can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. This brief statement cannot disclose all the risks and other significant aspects of the Futures markets. You should therefore carefully study Futures Trading before you trade. Information and trading tools provided in and through this website are for general information purposes only. All investments involve risk, including potential loss of principal. Clients must consider all relevant risk factors, including their own personal financial situation before trading. 

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