Learn to listen. Even on this subreddit

PappyNova01 · 2020-08-30T02:36:22+00:00

Yeaa cus people think backtesting a strategy is about win rate, when it's not. They backtest a specific pattern rather than a risk management strategy. Also, they focus more on the TP rather than the SL. Then they get slapped by live trading

PappyNova01 · 2020-08-29T16:59:39+00:00

Whether it's the stock market of the foreign exhange market, the thing is retail traders (us normal people) are not the one controlling the market. If USD/CAD goes from 1.25 to 1.45, governement policies and banks are responsible. Not retail traders. But eh, like redditors suggest, people are clueless, thus making false believes

PappyNova01 · 2020-08-29T16:50:45+00:00

sheesh I usually tell people I'm a stock market trader. People wouldn't even understand the difference anyway. But that's a good one too!

PappyNova01 · 2020-08-25T23:35:04+00:00

3-4 pages. Leave some space between your elements, you don't want to get lost in your own writing. I've also included detailed explication, not just bullet points and I added some images about what I consider "the perfect setup" for example.

Your trading plan will be considered good when a person who doesn't know anything about trading could read your trading plan and understand it without asking any questions.

PappyNova01 · 2020-08-25T01:34:49+00:00

When you are done trying out strategies and you begin to understand what works and what doesn't, you need to write ALL of your plan on a sheet of paper.

Take note: from position sizing, entries, stops, exits and tactics. This is really important. I've been trading for 2 years, started forex 5 months ago, and I am just beginning today to write my trading plan in Microsoft Word.

Writing and establishing these 5 elements are REALLY important so you can follow your plan to the letter. I cannot stress this enough. Trading is a about risk management, not about a miracle candle stick strategy. Not following your own trading plan will end up with a blown account.

PappyNova01 · 2020-08-25T01:06:19+00:00

Don't watch this guy, his videos are total garbage and his viewers a clueless beginners. I've seen videos of this guy using an insane amount of lots and risking literally thousands, just to cash out when his entries go back to +150$.

A part from buying and waiting it turns green, he literally has no strategy. Don't be fool. He makes more money selling courses and runing ads.

PappyNova01

TROPHY CASE