The Professional Trader
Trading is a business, and successful trading is making good decisions, not good predictions!
Why professional traders are process-oriented?
How to think like a professional trader?
The 3 Ps of Professional Trading
(1) Process
(A) Start with charts for:
1) Broad markets
2) Curve, Trend & Zones
(B) Search for stocks with momentum, liquidity, and watch list norms.
(C) Use your charts to define your trade parameters. Wait for higher probability trades. Use Odds Enhancers(OE) to qualify your trades. Rules to rules:
(2) Probability
1) Minimum score (OE) should be 7.5 (75%)
2)Strong directional trade.
3)What is the overall trend? Is the trend likely to continue, poised, or reverse?
(3) Profit
Return must be based on dollars at risk! Plan pre-defined risk and reward for asymmetric trade parameters.
Risk/Reward Winning percentage
1:1 100 %
1:2 50 %
1:3 25 %
Mindset: Result vs process oriented trading
Trading Process F.O.R.Ex /OODA
- Determine the context of the market: market structure
- TLS to determine the Direction of ‘Trend ‘, level, and setup
- Validate Trade Setup
- Enter: place trade
- Manage the Trade
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Requirements
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Features
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Target audiences
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