Hi there,
You know, when you do something, you need to be driven by an idea of why you do it. Otherwise, you will not have a direction and your work will not be meaningfully clear. If you trade with the purpose of making money, you will eventually make money because that was your goal.
But, losing money is against the objective of making money, so you will weigh and estimate the risk in order to make money. As a result, the process of risk management would be to make a profit.
Now, suppose you change your mindset and tell yourself that the goal of your trading is not to make money, but to manage risk. Well, that is exactly what you will do. You will manage risk by not trading for weeks and making little to no money. In a journal, you will notice that you have many losses and few wins, but you still stay in the activity or capacity of trading. And you will think that keeping up with a live account makes you a winning trader. No, you are not. You are just prolonging the inevitable, which is, you are not making a meaningful profit, and eventually you will run out.
That sort of a thing happens when you treat a setup like a trade, and not as a means to trade. When you treat a setup as a means to trade, you adjust your entry and exit strategy, but there is no way you can do that if you do not know how to use an oscillator.
Our AUD/USD bias is 0.77069.
You know, when you do something, you need to be driven by an idea of why you do it. Otherwise, you will not have a direction and your work will not be meaningfully clear. If you trade with the purpose of making money, you will eventually make money because that was your goal.
But, losing money is against the objective of making money, so you will weigh and estimate the risk in order to make money. As a result, the process of risk management would be to make a profit.
Now, suppose you change your mindset and tell yourself that the goal of your trading is not to make money, but to manage risk. Well, that is exactly what you will do. You will manage risk by not trading for weeks and making little to no money. In a journal, you will notice that you have many losses and few wins, but you still stay in the activity or capacity of trading. And you will think that keeping up with a live account makes you a winning trader. No, you are not. You are just prolonging the inevitable, which is, you are not making a meaningful profit, and eventually you will run out.
That sort of a thing happens when you treat a setup like a trade, and not as a means to trade. When you treat a setup as a means to trade, you adjust your entry and exit strategy, but there is no way you can do that if you do not know how to use an oscillator.
Our AUD/USD bias is 0.77069.
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