NQoos---STEPS TO BECOME A PROFITABLE TRADER
1- Get Ensign
(You can playback any day to
practice. Buffy, NQ/ES Pals, often available for great commentary and
instruction on high % setups.
Ensign is the best tool an unprofitable trader can
have. If you already have another charting program get Ensign also. Its only
$40/month, playback ability only. Better, is get Ensign realtime version. If
you’re still working a 9/5 job as you learn you can trade the playback
2- Only trade with simbroker
(Ensign)...no real $$ trades allowed.
Great to have arrows automatically
placed on chart showing all your entries and exits. When you’re done it will
show how many trades you took, % winners and total profits. Really GREAT.
3- Trade only 1 setup, high %
trade with the trend.
(flag break...1-2 bar
setup----slingshot. MOF or whatever works for you. Find your high % trade setup)
4- Keep all screenshots and
simbroker results each day.
(Study your good and bad entries
5- No posting allowed in chat
(Most unprofitable traders can't
concentrate on trade execution/management and post at same time or simulate
trade and learn effectively at same time. Chatrooms can be a great place to
learn from moderators and some posters that explain why they entered and exited
a trade. Chatrooms can offer a wealth of trading related information.
Unfortunately there is also a wealth of misinformation dispensed in chatrooms.
So...verify all yourself.)
6-After market, mark trade
entries and exits you missed or those that would have maximized your bottom
I believe marking charts "trains the
brain" to see it easy and fast realtime.
When you can show 4 profitable
weeks in a row, you’re ready for a new setup high % trade and can trade for