Advanced End of Day Trading by J.R. Calcaterra

Author:J.R. Calcaterra
Language: eng
Format: epub
Tags: trading, day trading, end of day trading, forex strategies, stock trading, futures trading, trading for beginners, forex trading, swing trading strategies, financial market trading
Publisher: J.R. Calcaterra
Published: 2016-09-19T00:00:00+00:00

Ways to win more trades as a beginner

I always ask brand new traders who come to me for help if being right all the time, winning lots of trades or making a lot of money is the most important thing to them and then I wait for their answer. The answer I always get is “I want to make money”, hell we all want to make money in the financial markets it is what they are there for.

Unfortunately, new traders think that winning trades is more important than making money, IT’S NOT. Nothing is more important in the live market than making money! Dig this, you can be wrong 40-50% of the time and still make a double bottom oil tanker full of money. You can be wrong, you just can’t stay wrong. Winning and being right are typically things that brand new people to the business associate with being profitable and successful, that could not further from the truth.

Your entry needs to be correct in trading the live markets, meaning low-risk, high-reward, and high probability, if it is not, the other components of your trade, such as the exit and management will not work in the manner they should. This section focuses on some simple and powerful methods related to how you can and should increase your winning percentage as a beginner so you can make money right away. First and foremost though, you must have a full risk and money management plan in place in your overall trading plan for any of the following ideas to work. You must have a complete handle on what your own appetite for risk is and what your trading capital account can allow you to trade with.

Ways beginners can increase their winning percentage right away are always make sure they have the correct profit margin that meets their plan criteria for what a profit margin is to them. That can only be determined by you as to how much you want to make on a given position. Your profit margin from your value area is the distance from your entry to your profit target.

An S&D value area is a price level where there is competition to buy or sell an instrument. If you are trying to buy where others are looking to buy, you are going to have to compete with them at that value area which makes getting filled there challenging for a beginner trader. A much easier way to get your buy/sell order filled, is to buy/sell before price reaches the value area where there is less competition to buy/sell and gives you a much easier and better chance at getting filled. Another way to think about it is instead of buying when there is competition to buy/sell, buy/sell back for your profit when there is still competition to sell/buy.

So here you go then. If you are looking for trading opportunities that offer you 3:1 risk reward, make sure the chart is offering you at least 4:1. If you are looking for 4:1 risk reward, make sure the chart is offering you at least 5:1.

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