Are you a setup trader or adaptive type of trader?
The best thing you can do when you are a trader is to know yourself. There is a lot of type of traders in the markets, and most of them do not even realize what type of traders they are because of not spending more time analysing themselves. We know a lot about scalpers who takes a lot of trades in a day but aiming very low amount of pips. There is also Intra-day traders who usually takes trades that do not last more than a day or 80% of the time. Swing traders take more of long term trades those they can last for weeks or months. Those are the one of the classic type of traders we have, but today I would like to talk about setup traders and traders who can adapt. Some may have a knowledge or have been taught by someone who adapts with the flow of the market but when they try to do it on their own they do not succeed as much, why is that?
Make the risk to reward ratio your friend
It may come as a surprise to many traders to learn that with a risk reward ratio, you can lose more trades than you win and still make a profit. How is that possible you may ask? In what may appear ground-breaking but above all re-assuring to would-be day traders, we will take you through how this is possible!
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