How to STOP Taking Large Trading Losses || Blown Accounts

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amamez50
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In this video I talk about avoiding large losing trades by using a stop loss and implementing simple psychology tips:

Before you buy/sell, make sure you are doing so when your edge is present. When the market is giving you a good enough reason to enter/pay attention. ONLY TAKE TRADES THAT FIT YOUR CRITERIA!
Second component to a trade is your confirmation signal. Where to enter when buyers/sellers are present.
Before you enter that trade, you MUST have a clear exit plan in place in case your analysis isn’t correct.
Decide on the potential reward of the trade versus how much you can potentially lose if you are wrong.
(RISK vs REWARD) ????????????????
(At Least 2:1)

Use your edge + where you entered + your confirmation signal to pinpoint an area ON THE CHART where you will be proven wrong.
Mark it, honor it & cut your losses if wrong.
You can ALWAYS re-enter if it stops you out and moves right back how you wanted it to.

Make sure ALL things align in your favor. Market context, market direction/conditions, VOLUME, timing, etc.
Once this is all done, you must trade like a robot and follow your own rules. The results are out of your control at this point. You understand the worst that can happen. DO NOT LET YOUR EMOTIONS DO THE TRADING

Stops are NEVER based on a $$ or %% amount.

Hope you all enjoy ! :)

If you have any suggestions for future videos such as Day Trading, Investing, Stock Market, Option Trading, Real Estate, Robinhood, TD Ameritrade, ThinkorSwim, Crypto & bitcoin, Entrepreneurship, Forex, or fun daily vlogs. Please let me know.

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#stoploss #tradingpsychology #carminerosato
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Crypto Trading
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