Posted by: joetradingplace | March 13, 2015

Simple way to trade

Simple way to trade is to buy when price is moving up and sell when price is going down. But why do traders look for fancy complicated trading strategies, maybe because they want to look intelligent and impress others. In trading you don’t get paid for being intelligent, but you get paid by taking profitable trades. Managing your risk and letting your profits run is the recipe to successful trading.

Who made more gains here?, traders who sell because the market was overbought, or traders who kept buying pullbacks….who would have done the hard work? who would have done the easy work, who would have been in more pain, who would have been in less pain?. Which of these traders would you aspire to be? I bet you there are some stubborn traders who kept selling and kept adding to their losing trades….and now they can’t live to trade another day…coz they have blown their hard earned capital. Whilst a trader who kept it simple by buying pullback is growing an account steadily. STOP and THINK what type of trader you want the be.

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