“With many markets tanking down some have now reached key support levels but they may not hold?? In this Live Trade and Market Review I assess the current situation as well as show you some of our current closed and live trades “
With lots of volatility and uncertainty right now I have been posting a daily market review, normally only for our paying members, on both of our Facebook pages.
Many traders have had a tough few weeks, some through no fault of their own, yet some are trying to catch moves they normally don’t trade and others not knowing what to do as these conditions they have never experienced before.
Many traders outside our community are feeling lost, unsure and some broken and the huge swings in emotions they are feeling are being driven by the huge moves in the markets, helping to create a heightened sense of both fear and greed.
Now trading isn’t life and death and there are more important things to consider and people to take care of at this unprecedented time and for me that’s important to remember.
However, for many like myself , my team and my students, trading is our livelihood and for some their entire savings and as a result this is time to remain calm and create more focus and more resilience.
Myself and some of our members traded through the financial crisis of 2008 and there are some similarities however, the past 2-3 weeks the moves have been extreme.
So your first port of call as a trader is always to limit your risk and the second is to limit the drama and tap into some like our Market Review and the people who know what they are doing.
If you are regularly trading, keep doing what you normally do, and don’t get sucked in to the hype and drama, recognise the increased volatility and reduce your risk by managing your stakes.
Track everything you do and think and feel and remember the uncertainty will pass.
I hope you find this live trade and market review useful and I hope you and your family are all safe and well.
Sign up for free training and support at www.traderssupportclub.com or email support@traderssupportclub.comwith any questions.
Trade safe and we are here to help.
Ali
Alright… Not one of the most exciting subjects we have ever covered, but definitely one of the MOST important.
Risk management is something so many traders “think” they have locked down, but actually what they are doing is taking themselves down a road of no return.
Both for them and their account balance.
And what’s worse…
There is a group that simply overlooks risk altogether, or takes some one-time advice that is usually completely inappropriate for them and the way they trade!
So how do you make sure you not only know what to do when it comes to risk management, but you ACTUALLY do it?
First Off…Know Your Numbers
Yes, it’s a small bit of maths, but knowing the simple multiples can save your account balance!
Let’s say you are risking 10% of your cash pot per trade.
But that only requires a 5 trade-losing run to be the best part of 50% down overall.
Oh well, I still have half my money.
Hang on!
You now need a 100% return on that balance JUST to get back to where you were 5 short trades ago.
Let that sink in for a second…
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