"Our mission at Voodoo Trading is to provide you with the tools required to develop a profitable trading strategy that will accelerate your quest for financial freedom."
Successful trading is simple but it is not easy. In order to be a profitable trader you need to follow these steps:
1. Find a stock that is trending.
2. Determine a suitable entry point.
3. Enter a buy order, along with a stop loss that controls the amount of money you are willing to lose.
4. Hold on to the stock until the trend ends, at which time you sell and bank your profits.
If this is all that is required to be a successful trader, then why do over 90% of traders lose money in the stock market?:
1. They do not have a written, systematic, rules- based, trading strategy that has been backtested to confirm that the strategy has a positive expectancy and will make money.
2. Once they have a backtested the trading strategy, they become too emotional and do not consistently execute their trading plan day-in and day-out.
Your trading strategy must clearly identify the following:
1. Market trend
2. Potential trade setups
3. How to enter the trade
4. The initial stop loss exit
5. How much money to risk on the trade
6. The profit stop exit
Watch our video "Developing a Systematic Trading Strategy".