Plus the one step you never hear about
November 30, 2021: Get your mind in the right place. Trade for results.
Having a trading plan each week to generate income is key to obtaining consistent results. This keeps the process at the forefront of your mind and the emotions out. Like last Friday morning, when the markets unexpectedly pulled back when no one seemed to be looking, that left a lot of traders feeling helpless. However, having a process, like the one I outline for you below, is what gave me the confidence to take action and enter optional trades on FTNT (Fortinet) that morning. Call me crazy, but when I entered, I knew my profit targets and my risk. | |
Here's the process I use: - Find trade setups: FTNT $331.73
- Know the risk: $320.34
- Set profit targets: $355.35, $361.44 and beyond.
- Determine if the reward to risk is worth it: $23:$11 so yes.
- Here's an important step you don't hear about: Ask what would make you take the opposite directional stance — This helps remove bias — I've often thankfully changed my mind on a trade because of what I didn't see the first time.
- If conviction remains, like on FTNT, I pull the trigger and
- Let the trade play out — win or lose.
- Rinse and repeat.
Jack Carter uses a process like this for weekly profits. In fact, he's the reason FTNT was on my watchlist. He reveals more trade ideas and the steps he's used and refined for over 30 years during his online workshop. Don't let the fear mongrels and talking heads determine your financial future. Take control of your tomorrow and listen to how Jack plans his profits every week. Sincerely, Celeste Lindman Ask The Pros | |
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