Focus On the Entries & You Are 60% There

by | May 15, 2023 | Forex Analysis

spread in forex

Hi guys, when you talk with professional traders they all talk about their “edge.” This refers to what makes them successful trader. My “edge” is that I am really good at picking entries often from 100’s of pips away. For years here at FMP the in-joke is I am “spookily accurate” 🙂

Last week I posted a video showing 4 such examples. At the time of writing this post they are currently 400+ pips in profit.

3 of them were almost “to the pip.” The good news is that if you can focus on getting

  • the entries right, for multiple reasons
  • the stops for multiple reasons
  • the target of at least twice what you risk (1:2 risk reward) you are 60% of the way becoming successful.
  • the fundamental bias supports the direction is safest tho not always essential
  • double check no news is due out that could kill the trade
  • Use the trade manager to manage moving stops, take part profits etc.
  • rinse and repeat 🙂

This is the video and notes I posted on Friday morning showing 4 extremely accurate entries, all of which complied with the above checklist: Winners & Losers & Possible 10 Bagger

This is today’s video showing their current progress and how I am managing the trades

 

650x60 100 Free training course 4

 

Ashley, Thinus and more recently Phil, all of whom I trained personally are now also excellent at this type of planning and share their analysis in the forum. As are many of my private clients. My best advice is to focus on this part of your trading. Then consider semi automating the management of the trades by using the Trade manager which you can find here:

Improve Your Results by Semi-Automating Your Trades?

 

Kind regards,

Marc

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