No Rules, No Monster Wins

If you ask a new trader, “Why did you get into that trade?” the answer will probably be, “I don’t know. Everyone was talking about it.” If you ask a reddit trader what their target is they’ll say, “I don’t know. Whenever everyone else gets out.” If you ask an app trader about their stoploss they’ll probably say, “I don’t know. What’s a stoploss?” Everyone wants to go to heaven, but nobody wants to die. Everyone wants a Monster Winner, but nobody has any idea of the process behind it. To get a Big Win and keep the winnings, there has to be a plan. Sure, it’s possible to stumble into a profitable position. But it’s super hard to keep that money because there are no guidelines to sell. And if we do make money on a lucky winner, it’s almost possible to do it again. Gut feel and message boards don’t produce long-term winners. The solution, of course, is simply to have a plan. Know when you’re getting in and why. Make sure none of those reasons are based on internet jabber. Then, know when you’re getting out, and why. Make sure those reasons are unassailable so that there’s no hesitation when the time comes. Have a goal and stick to it. Yes, it can be disheartening to see a winning trade go much farther. We could have made so much more! But we have to remember that holding on and begging for more will kill us in the long run. That’s why they tell us that most traders lose. It’s not because traders can’t get themselves into big winning positions. It’s because they have no plan for getting out. If we’re looking for Big Wins, we first need a process. Then we need to stick to that process. If we don’t have rules, we probably won’t have wins. Happy trading, Scott P.S.: Rob recently hosted a live event showcasing his plan for a coming bear market. [Click to watch and get Rob’s plan for yourself.]( Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. You may lose more than you invest. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. The information on this website is intended as educational in nature and we do not recommend that you buy or sell any specific financial instrument.   Daily Profit Publishing , 1800 Hughes Landing Blvd. Ste. 200, The Woodlands, TX 77380, United States [Update your subscription]( — [Unsubscribe](