dhaka slides keys to success
TRANSCRIPT
The Keys To Becoming A Profitable Trader…
The UK’s top trading coach shows you the exact steps to becoming a
consistent trader
Ali Crooks The UK’s Top Trading Coach
Trader with 18 years real time experience.
I have trained over 10,000 people internationally and mentored hundreds
of traders.
Average monthly return of my successful students is 9.4% ROI.
Author
Trade Live With My Students
Member of CISI
Previous Returns– 11.5 % av p.m. ROI
Why Listen To Me ?
Classic Determining Factor Traps
CONTRIBUTING FACTORS
DETERMINING FACTORS
1. Master The Strategy
2. Master The Market
3. Master Yourself
How are we going to do this….....?
Every Traders Goal….
Traders Triad In Detail
Traders Triad In Detail
Traders Triad In Detail
They don’t have a plan
1. Create A Trading Plan Know what you are going to do ahead of time…
What your plan should include • What trading strategies you will
trade?• Risk Levels • What tested results has your
strategy achieved? • Asset Allocation? • Cut off and review points?• Time allocation?
They don’t have a
strategy !
2. Start with one strategy Become a master of it before trading another
Strategy Matrix Price Point Movement
Breakout
Bounce
Strategy Type
Breakout
Pullback
Reversal
Trend Condition
WTT & ATT
WTT
ATT
Position Characteristics
Early to Mid Trend
Early To Mid Trend
End Of Trend
One of my day trading strategies
• DAX futures – S&P Futures - GBP/USD - EUR/USD – USD/CAD – USD/JPY
• Corresponding new high or low on 5 minute chart • Wait for price to pull back to the 21 moving average• Calculate the distance in points between the high or low to the 21
moving average • Divide this amount by 2 = stop size • Work out your stake • Enter the trade long or short when you hit the 21 moving average• Exit or bring your stop to entry when the previous high or low has
been reached
• DAX futures – S&P Futures - GBP/USD - EUR/USD – USD/CAD – USD/JPY
• Corresponding new high or low on 5 minute chart • Wait for price to pull back to the 21 moving average• Calculate the distance in points between the high or
low to the 21 moving average • Divide this amount by 2 = stop size • Work out your stake • Enter the trade long or short when you hit the 21
moving average• Exit or bring your stop to entry when the previous
high or low has been reached
Another example
They don’t manage risk
3. Manage Your Risk You must have a clear plan to manage trade with a specific risk.
Risk Management Plan
• Decide on your % risk per trade and stick to it
• Day Trading = 1% of total capital per trade
• Swing Trading = 2% capital per trade • Position Trading = 2% per capital per
trade
• 3 trades maximum at any one time
• Calculate your risk based on stop size
Stack the reward in your favor
They don’t know their numbers !
4. Know Your Numbers How their strategy is and has performedRecord a very specific set of data
We Create Our Own Process
L – Log R – Review A – AmendR – Repeat
WHAT YOU MUST RECORD
• Winner or Loser • Risk to Reward Ratio• Maximum Draw Down • Maximum Exit • Maximum Retracement • Hour and day of the trade entry • Long or short
They think they will make it by “trial and error” alone
5. Use A Structured Feedback ProcessAsk the right questions Get the right feedback from the right people at the right time
Who's on your team??
Classic Determining Factor TrapsCONTRIBUTING FACTORS
Finding a good broker Your charting package
The technical indicators you useWhat the news is saying
Computer spec
DETERMINING FACTORS
Create a plan Sticking to one strategy
Managing Risk Knowing your numbers
Have a structured feedback process