Welcome to another issue of Traderwave Weekly, a trading newsletter where I curate the most useful trading articles on the internet to share with you.
Hope you will enjoy all these fabulous reads and apply those knowledge along your journey to become a proficient and profitable trader!
Stop loss is one of the most vital tool to protecting a trader’s precious trading capital, so that he can take calculated risks and minimize opportunity costs to trade the best idea at any point in time.
If you are already familiar with the usual pin bar and inside bar stop loss exit strategy, this article will be a good primer to the other more advanced ways to decide on a stop loss level.
What is great about this piece of trading knowledge is that other than sharing with you the strategies, the author also shared with you the pros and cons of the difference stop loss strategies.
A good trader is able to generate good returns on his trades consistently but a great trader is someone who can generate great returns.
If you have no idea what might be the key factor differentiating a good and great trader, this article might be able to offer you some insights to this topic.
However, do note that not everyone has what it takes to be a great trader, just like there are so few top sportsmen out there.
If you find it hard to do those things that are required of great traders, it might not be a bad idea to just stick to what you are able to do and still be a profitable trader.
WORDS OF WISDOM
There are often two competing school of thoughts with regards to making money in the financial markets;
the fight between traders who believed that technical analysis is the holy grail to winning in the markets and investors who is adamant that fundamental analysis is the only way to be rich.
Very few market participants are well-versed in both to offer an objective view to this century old debate.
However, the author of this article offers a very refreshing insights to how he became a technical trader from being a fundamental investor (clue: he did not bash one over another), and I believe that anyone who is trying to profit from the financial market should have a read.
If you find these articles I’ve shared useful, do share them with your friends by clicking the sharing buttons!
Latest posts by Philip Teo (see all)
- Why you should not feel too bad about having a losing streak - September 12, 2019
- Edmund C. Lee, the President and CEO of the Caylum Trading Institute, a premiere educational facility in the Philippines that aims to develop successful traders of global markets. - September 12, 2019
- The risk of trading multiple highly correlated currency pairs - September 10, 2019