Simple Trading Plan
A curious fact of trading is that you can take two different traders and give them the exact same chart and even the same trading pattern, and you will end up with very different results. With everything else being equal like knowledge, trading experience and access to information.
Indicators vs. clean charts
One obvious reason two traders will view the same chart differently is indicators. Some traders like to plaster their charts in technical analysis indicators that literally make the charts look like a piece of modern abstract art.
The trader who uses clean, simple price action charts without too many indicators will inevitably have a different perspective on the same market; a clearer and more accurate one.
** The above chart is extract from Ninjatrader -- Day 01 of July 2018
Develop a trading plan and routine
Your goal as a trader should be to work so hard and be so dedicated to mastering your craft, that when the perfect opportunity comes along, you hardly even have to think, you literally just execute the plan. Win or lose, you can know what to expect before you pull the trigger. Doing this, will allow you to eliminate fear and other negative emotions from dictating your behavior in the market.
First week of July 2018 (first 5 trading days) traders who had this trade plan using BBT waves, should expect this result.
Last trading week of July 2018 (5 trading days) traders who have the trade plan using BBT waves, this should be the outcome.
I am just showing example using the first and last week of the month, with just 4 hours of trading during Europe opening.
Mastering your mind is how you master the markets
Almost 100% of people coming into trading are drawn in by the desire to make money and improve their lifestyle. Whether you want to admit it or not. There’s nothing wrong with those kinds of thoughts and feelings because they are obtainable goals if you study hard, perfect your craft and manage to keep your bankroll intact long enough to live to trade another day and come out the other side profitable.
You should trade because you love trading, plain and simple. You must love the process of trading. You should train yourself to become methodical and well-structured in your trading approach, making plans and keeping trading journals. Once you start doing things like this you know you’re on the right track.