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ShaunR
ShaunR
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20170612
For all those people who want to become really successful traders, please read below and internalise the advice.  Later, once you have embarked on your trading journey, should you ever lose your way, come back and read this again, several times.

Then apply it!

Keep your approach simple, do NOT get greedy and be consistent...


Treat Trading as if you are a hunter.

Need to set your mindset up for success.

Early homo sapiens were hunter/gatherers.

Prey was typically faster and more agile than man - not easy to chase down.
Also chasing wasted a lot of energy - man could not afford that too often.

Best way to hunt is to form a trap and wait patiently for the prey to get caught.
Early man required ingenuity and skill to utilise the available resources to engineer an effective animal trap.

We are wired to hunt - part of our early brain wiring.

Treat trading in exactly the same way… set a trap and wait… and wait.  

Hunters who would try and chase down prey quickly discovered that they were using up too much energy and either gave up or starved to death.
Translation - Don't try and chase the market - your trading capital will get hurt badly, eventually resulting in you blowing your account!

Treat trading as if you are looking for a daily catch of 5 to 8 small animals to feed the family.
The forest is abundant - full of animals for you to catch.  
There are 60 animals per hour that run through the forest.  Translation - trading the 1 min chart, there are 60 candles that form per hour.  Each candle may offer a potential trade.

If we trade the 1 min chart… between 8am and 8pm there are 12 hours * 60 minutes = 720 opportunities to trap a profit

That is a BIG number of opportunities.

Don't get greedy.  Don't over trade.  It will hurt you.

With that many opportunities, you can afford to be patient and wait for the RIGHT setups to catch your quota of animals every day.

The other aspect of hunting is this…  sometimes the trapped animal gets away.  It breaks the trap and escapes.  That's just how it is.  
When the trap breaks, the hunter uses energy and resources to repair it.  In the same way, we use capital for each trade that expires OTM.  

It is virtually impossible for the trap not to be damaged by animals trying to escape.  It is the nature of the process.
In the same way, making some losses in trading is inevitable - it is the nature of the process.

As a rule, don't try and set traps for extremely large animals - they will almost always break the trap and escape.  
Translation - don't try and enter on the close of an unusually large candle just formed, there is a distinct probability that market will retrace for the next candle, moving against you.
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