CCT Weekly Summary 09 April 2016
We’re back with new weekly summaries of the topics we discussed in live classes with our advanced members.
We began this week with discussions on odds and probabilities.
- There is no magic trading tool or single piece of information will make you a winner.
- Winning is a combination of astute money management, accurate trade selection, correct timing, and lots of discipline.
- ALWAYS remember that even though we have an edge, the outcome of any one trade is still 50:50.
- There are no absolutes.
Then, we discussed realistic expectations.
- Our expectations play a pivotal role in how we respond and react to various situations.
- The disappointment caused from expectations not being met, is the number one cause of traders losing motivation or giving up entirely.
- Most people have grossly unrealistic expectations about trading.
Finally, we go over 2 trades that we took on the GBP/USD and the AUD/JPY showing why we entered and the results.
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