Trade Setup & Management - this is an important Topic to understand so as to ensure that each time an opportunity presents with the same criteria/setup that you identify that you enter and manage the trade the same way each time. It also helps you handle situations that occur both immediately before and during the life of a Trade.
It is one thing, to be able to look at a chart and say to yourself, "I'd enter here" and then come back days later to check the progress of the trade and another thing entirely to actively manage a Trade.
Good Trade Setup and Management rules will help you to be more consistent and help your Trade Documentation. It is much easier to document a trade if you handle the same situation the same way each time*.
Given that the trades we take are all based around Trading Strategies, these strategies need to be well documented and planned, factoring in our Trading Style, Risk Management parameters and the current market conditions.
As a Trader you need to ensure that you are working from entry criteria checklists for every trade to help ensure that you follow your own rules, entry criteria, risk management, profit targets, stop losses and exits.
This mentoring session and associated documentation that you receive will help you develop your own trading rules. Having those rules in place and working from those gives you a huge Psychological advantage compared to trying to trade without those things.
Those rules and good documentation also gives you a great basis from where you can identify opportunities for improvement in your own end of month trade reviews.
This mentoring session is vitally important to facilitate the transition from novice trader, to a consistently profitable trader.
Schedule this session directly in Mentoring booking calendar at a time that suits you. What are you waiting for - act now!!😀
* Sometimes situations occur where you identify a pattern and change your rules or behavior accordingly. Make sure to document that rule change accordingly otherwise your end of month reviews will be a nightmare.