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[How to set proper profit targets (hint: it’s not about your risk-reward ratio)]
I laugh to myself whenever I hear traders comment:
“You must have a minimum of 1:2 risk-reward ratio if you want to be a profitable trader.”
Now let me ask you…
What’s so special about having a 1:2 risk-reward ratio?
Why not have a 1:10? Or even a 1:100?
So here’s the truth…
The market doesn’t care about your risk-reward ratio—it goes where it wants to go.
The only thing you can do is, observe what the market has done previously, and use it as a clue to where it might go in the future.
For example:
If the market previously collapsed at $100, then the next time it approaches $100, there’s a possibility of selling pressure coming in at that level.
As a swing trader, you don’t want to set your target at $105, $100, or $110 because the market might not get to that level due to selling pressure.
Instead, you want to exit your trade before opposing pressure steps in which is before $100 (around $99 or so).
This means if you’re in a long trade, you’ll want to exit your trade before:
•Swing high
•Resistance
•Downward trendline
(And it’s just the opposite for a short trade)
Hey hey, what's up!
I'll be speaking in-person at the Market Insights Trading Festival on 29th July at Suntec Convention Centre, Singapore.
Learn more: https://bit.ly/mitf-twr
Not in Singapore?
No problem! The festival also includes a virtual segment, packed with trading insights and strategies from an impressive lineup of expert speakers.
And here's a bonus: Everyone who signs up for the festival will get a free copy of my Breakout Trading System.
Whether you're a seasoned trader or a beginner, this festival is a golden opportunity to gain insights, refine your strategies, and connect with like-minded individuals.
Click the link below to secure your spot now:
➡️ https://bit.ly/mitf-twr
Discover Professional Price Action Trading Strategies To Profit In Bull And Bear Markets
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Can You Make Money Everyday From Trading?
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[Learn everything about trading, then pick what you need]
As a new trader, there are things you know that you don’t know.
And then, there are things you don’t know that you don’t know (which are even more).
So, don’t focus on one technique or strategy too early because it might not be a good fit.
Instead, explore your options out there.
Learn as much as you can about trading, anything you can get your hands on.
Things like day trading, swing trading, RSI, MACD, stochastic, moving average, counter-trend trading, trend following, etc.
Now here’s the thing:
Not every trading tool you learn will be useful to you.
But the key is to understand what it is, how it works, and the purpose of it.
For example:
The moving average is a trend following indicator (what it is).
It works by calculating the average price over a given period and is plotted as a line on the chart (how it works).
You can use moving average to trail your stop loss, identify the area of value, and filter for trending market conditions (the purpose of it).
Now…
Once you know the different tools out there, you can pick the right ones to fit your needs—and not blindly follow the herd.
Trading is not a job.
It’s a business.
An identity of the 5%.
An individual who is in control.
A belief that you can achieve when others fail.
An expression of your thoughts, feelings, and attitude—without discrimination.
Trading is freedom.
Swing Trading Techniques That Work
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7 Best Practice In Your First Year Of Trading
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Trading = Spending years to acquire a skill so you can be free for the rest of your life
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[Don’t tell anyone that you’re a trader yet]
You’re wondering:
“Why can’t I tell others that I’m a trader?”
Well, if you’re a consistently profitable trader, then go ahead. There’s no issue with it.
If you’re not, then it’s best to keep quiet about it.
That’s because when you tell your friend that you’re a trader, the first question you’ll get is…
“Have you made money from trading?”
Your answer is probably no.
And you won’t feel good about it as you’re reminded of your losses and how incompetent you are.
The next time you meet up with your friend again, guess what’s the first question he’ll ask you?
“Have you made money from trading?”
Again, your answer is no and you’ll feel horrible about it.
Now when you meet your friend the next time, guess what’s one question he’ll ask you?
You get my point.
So to avoid this “trauma”, don’t tell anyone about your trading endeavor—not even your family.
Trading can never replace the consistent income of a job.
Because it’s not a job—it’s a business.
[The financial markets are rigged, but…]
Yes, the financial markets are rigged against you.
Those with deep pockets can “temporarily” move the market to trigger stop losses and options expiry levels.
So the way I see it, you have 2 choices.
You can blame the system but it won’t get you anywhere besides more losses and frustrations.
Or, you can learn how the game is played and profit from it.
The choice is yours.
How to reduce your fear of trading:
Don’t go all in
Manage your risk
Reduce your position size
Trade with a strategy that offers an edge
Not more than 50% of your wealth in the markets
The Essential Guide To RSI Indicator
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The Definitive Guide on How to Set a Stop Loss
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Zuck just launched a new app, Threads.
I created an account to share daily trading tips and strategies to level-up your trading.
If you're on it, you can follow me here: realtradingwithrayner" rel="nofollow">https://www.threads.net/@realtradingwithrayner
Have a great weekend!
If you blame others, then you’re not taking 100% responsibility.
If you don’t take 100% responsibility, then you give up the power to change.
If you give up the power to change, then you’ll never make it as a trader.
[Don’t quit your job, yet]
Let me share with you a true story…
John (not his real name) just started trading the Forex market.
He funded a live account and made a $1,000 profit after a few trades.
So he thought to himself…
“If I can make $1,000 trading part-time, then I’ll make even more money trading full-time.”
So, John quitted his job to trade full-time.
The first few days were good as he was making consistent profits from the markets.
Then the market changed and the losses crept in.
Eventually, he gave back all his profits and bust his account.
Now, he’s back in the job market looking for work.
So, what’s the lesson?
Don’t quit your job, yet.
Just because you’ve made some money from the financial markets doesn’t mean you can do it full-time—it might be beginner’s luck.
Also, full-time trading requires a different mindset, account size, expectations, etc.
Stop loss and position size go hand in hand.
If you increase your stop loss, reduce your position size.
If you decrease your stop loss, you can increase your position size.
Understand their relationship and you'll never blow another account.
11 Trading Lessons I’ve Learned From 11 Years Of Trading
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Triple Bottom Chart Pattern (The Essential Guide)
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[It never hurts to start small]
Let me ask you…
If you can afford to lose $100,000 without affecting your lifestyle, then how much should you fund your trading account?
$100,000?
Wrong answer.
That’s because when you first start trading, your performance will be at its worst.
You’ll make trading mistakes, give in to your emotions, and do things that are detrimental to your account like averaging into your losses, widening your stop loss, etc.
This means your $100,000 will not last long.
The solution?
Start with a small trading account.
This way, your mistakes won’t be costly and even if you lose it all, you have surplus money to fund another trading account.
Because no matter what, you must pay tuition fees to the market.
The only question is, do you want to pay more or less?
Do you want to read candlestick patterns like a professional trader?
Then download a FREE copy of The Monster Guide to Candlestick Patterns.
You'll discover how to "predict" market turning points and better time your entries & exits—even if you have no trading experience.
Click the link below and grab your copy, it’s free!
https://www.tradingwithrayner.com/candlestick-pdf-guide/
10-Day Moving Average: Definition, Calculation & Strategies
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20-Day & 30- Day Moving Average: Definition, Calculation & Strategies
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6 Trading Habits Which Keep You Poor (Without You Realizing it)
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100-Day Moving Average: Definition, Calculation & Strategies
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How to Read and Interpret The Moving Average
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[Don’t trade based on other people’s opinions]
In today’s age, you can easily access a ton of information from Twitter,
Facebook, trading forums, etc.
The problem is…
It hurts your trading results.
Here’s an example. Imagine…
Someone posts a chart on Tesla and explains why he is bullish on it.
Next, there are 100 thumbs up and a flood of comments agreeing with the analysis.
So you quickly buy the stock of Tesla hoping to make a quick profit out of it.
Now here comes the critical part…
What if the price of Tesla drops 30%?
Do you sell, hold, or buy even more?
You don’t know because you’re trading based on the opinion of someone else.
You might be wondering:
“Well, I’ll just ask the original poster for an update on Tesla.”
Then one of these will likely happen…
• He sold his position for a small profit and you didn’t know about it
• He sold his position for a small loss but you’re still holding the stock
• He doesn’t reply to you
Either way, you’re on the losing end.
Do you see what I mean?
So, never trade based on the opinion of others.
They won’t tell you how long they plan to hold the trade, when to cut loss, and when to take profit.
Ignore the noise. Get your hands dirty. Stay accountable to yourself.
As a trader, you have to be willing to lose money to make money.
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