The Voodoo Trading Post - March 7, 2022
Here's our weekly snapshot of information that we hope will help in your journey as a systematic, rules-based, trader!
"If you don't respect risk eventually they will carry you out." - Larry Hite
Trading Strategy Tips
- If you are in a prolonged drawdown you should consider reducing position sizes to make it psychologically easier to continue taking all the signals generated by your trading strategy.
- To be a successful trader you need to turn off all the noise (ie CNBC) as it will pull you in too many different directions and make it harder to trust your strategy.
For more Trading strategy tips be sure to review our tutorial on Building a Systematic Trading Strategy.
Weekly Instagram Trading Poll
Do you keep a Trading Journal to document all your trades.....
Yes - 56%
No - 43%
A Trading Journal is an indispensable tool if you're serious about treating your trading as a business rather than a hobby. The Voodoo Trading Journal provides you with a daily routine so you can systematically execute your trading strategy and a monthly summary so you can document and learn from your past trades.
What's on your watchlist? These are the strongest trending markets over the past month........
Recommended Trading Books
Most traders are not successful because they don't stay objectively focused or they lack the necessary confidence to execute their trades properly. Trading in The Zone teaches traders to think in terms of probabilities and that they should tune out the market noise and focus on consistently executing their trading strategy.
Please let me know what you think. What did you find most useful? What would you want more or less of? If you find this information useful please share with fellow traders.
Trade smarter, trade better!
Excellent Product...Sequencing your thinking