Liberty Market Investment
Sponsor
I know that many of you were on the brink of despair after a series of unsuccessful trades. At days like this, you have to decide whether to continue trading and win back at least half of what's been lost (very, very bad idea!) OR just call it a day.
You don't just end here and now just because you lost almost everything. There will always be tomorrow. But to make that tomorrow be the oposite of that dreadful today, you need to make a few notes in your trading journal AND... guess what... Keep sticking to your trading system,having those past mistakes in mind.
Let me give you an example of a trader who recently got funded with us. He was doing the Qualifying Session (Step 2). And the way he started it, seemed beautiful. He made a few trades and earned half of the required profit target. Let's look at those trades.
A nice catch of the day high (attention: the global trend was up on that that day and the guy got lucky simply because he traded the US Session open which often goes different direction).
So a good start. Half of the profit target achieved.
But what happens the next day? He tries to trade the open again, but this time he's not fast enough not to breakeven.
1- a very risky trade against the globex trend
2- obviously lack of self-discipline (otherwise there would have been a small profit target)
3 - the worst poiint -he is still too STUBBORN to short the rising market.
Thanks goodness, he stopped just in $14 before he would have broken his $1000 daily loss limit, but that was a lesson to learn.
Let's see what lesson he learned the next day. "Calm down!"
He only took a few breakeven trades and never traded again for that day. A very wise desision if you want to take yourself together and do save some energy for the next day.
And it worked! The next day actually was a breakthrough which allowed him to pass the qualifying Session!
And guess what? He earned his $2000+ that day on a single trade following the trend. Here it is.
Remember what I said about his previous day? You need to save energy for big moves, you need to be ready for the market too boost. If you are just revenge trading or doing your numerous counter-direction scalps, I rather doubt you will be save energy for a trending day. But he did. And that's how he got funded!
Let's look at the remainder of his Qualifying session.
Some conclusions
1. I never stop repeating - don't be stubborn, let the market show you what it is doing and how successful it is in that (works especially well in indicies)
2. If you are having a bad day, relax and stop trading. The reason your day is bad is might just be because you're in the ranging market trying to trend directionally or vice versa. Trying to find "the range" in the trending day. That is why, the ability to tell one type of day from another is so crucial in the market.
3. Always remember, to stop trending is not enough. Draw some conclusions about what went wrong. And then shut down your computer completely and don't approach it until the next day.
Which might be.... The BEST trading day of your life.
That's sincerely my approach to trading and everything I'm showing you here is a subjective analysis of how our prop traders are doing. You might have a different opinion, so I'm ready to discuss answer any questions.
Slava,
LMI Funded Manager.
You don't just end here and now just because you lost almost everything. There will always be tomorrow. But to make that tomorrow be the oposite of that dreadful today, you need to make a few notes in your trading journal AND... guess what... Keep sticking to your trading system,having those past mistakes in mind.
Let me give you an example of a trader who recently got funded with us. He was doing the Qualifying Session (Step 2). And the way he started it, seemed beautiful. He made a few trades and earned half of the required profit target. Let's look at those trades.
A nice catch of the day high (attention: the global trend was up on that that day and the guy got lucky simply because he traded the US Session open which often goes different direction).
So a good start. Half of the profit target achieved.
But what happens the next day? He tries to trade the open again, but this time he's not fast enough not to breakeven.
1- a very risky trade against the globex trend
2- obviously lack of self-discipline (otherwise there would have been a small profit target)
3 - the worst poiint -he is still too STUBBORN to short the rising market.
Thanks goodness, he stopped just in $14 before he would have broken his $1000 daily loss limit, but that was a lesson to learn.
Let's see what lesson he learned the next day. "Calm down!"
He only took a few breakeven trades and never traded again for that day. A very wise desision if you want to take yourself together and do save some energy for the next day.
And it worked! The next day actually was a breakthrough which allowed him to pass the qualifying Session!
And guess what? He earned his $2000+ that day on a single trade following the trend. Here it is.
Remember what I said about his previous day? You need to save energy for big moves, you need to be ready for the market too boost. If you are just revenge trading or doing your numerous counter-direction scalps, I rather doubt you will be save energy for a trending day. But he did. And that's how he got funded!
Let's look at the remainder of his Qualifying session.
Some conclusions
1. I never stop repeating - don't be stubborn, let the market show you what it is doing and how successful it is in that (works especially well in indicies)
2. If you are having a bad day, relax and stop trading. The reason your day is bad is might just be because you're in the ranging market trying to trend directionally or vice versa. Trying to find "the range" in the trending day. That is why, the ability to tell one type of day from another is so crucial in the market.
3. Always remember, to stop trending is not enough. Draw some conclusions about what went wrong. And then shut down your computer completely and don't approach it until the next day.
Which might be.... The BEST trading day of your life.
That's sincerely my approach to trading and everything I'm showing you here is a subjective analysis of how our prop traders are doing. You might have a different opinion, so I'm ready to discuss answer any questions.
Slava,
LMI Funded Manager.
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