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!
Trend following is a trading strategy adopted by many successful traders and hedge fund managers.
However, there are also various ways to enter a trend following trade.
Trading breakout is one of the best opportunity for a trader to enter a position with the intention to following the trend for as long as it last.
In this great article, the author shares with the reader how to identify the best trading breakout signal before entering a trade, as well as mistakes commonly made by amateur traders trying to trade using trading breakout signals as a trend follower.
Amateur traders float around from trade to trade without a pre-determined plan of action.
They enter a trade when they feel like it and exit a trade when it feels right to them.
Sometimes they make money, sometimes they lose money but tend to lose their trading account in the long run.
Meanwhile, proficient traders follows their trading plan and has a routine in terms of how they will execute the trading workflow of analysis, execution and review of their trades.
They adopt a systematic approach towards making money in the market and that’s why they can be profitable over the long run.
What kind of traders do you aspire to be?
Read on to learn how to be a discipline trader with a trading routine.
Assuming you are already very comfortable with cutting losses, the next big trading skill you need to work on is how to take profit.
While human nature causes many traders to avoid taking losses, human nature also causes traders to fear losing the paper profits that they have.
As a result, most amateur traders tend to take profits too early instead of maximizing their returns.
To bring yourself to the next level in terms of maximizing your profits, read this article to learn some of the steps that you can take to ensure that you do not panic when in a profitable trade.
Learn how to make objective trading decisions when exiting your profitable trades and you will be on your way to accumulate more profits over the long run.
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