What does it take to be profitable? That’s a common question we get and the answer is …different for everyone. This is what works for us – 1. Become a student of the markets. We have studied the markets for years and formulated our market observations into a set of rules that when followed make money consistently. You must do the same. If you adopt someone else’s observatons (and you can do that) then you must still watch the method as it unfolds in real time and become absolutely convinced that it is viable – essentially you must make it your own – OWN IT as they say! lol 2. Once you have a method you believe in, exercise restraint and strict money management – TRADE SMALL. The trades we post here are never more than 5 contracts at a time. That means if we are in 2 in the CL we will only go in with at most 3 in the YM or the NQ. We could trade much larger size, but we don’t need to and you don’t either in our opinion. 3. Be objective and honest about your trading – that means complementing yourself when you trade well and that means chastising yourself when you do poorly and that means paying yourself when you have the profit.
Have a great week and weekend!