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WHAT MAKES A SUCCESSFUL TRADER

And How To Become One

By Your Trading Mentor,

Trading Angel

There are several key factors that contribute to the success of a forex trader:

1. Knowledge and expertise: Successful forex traders have a deep understanding of the forex market and the factors that affect currency prices. They keep up-to-date with economic news and events, technical analysis, and other relevant information that can impact their trading decisions.

2. Discipline and patience: Successful forex traders have the discipline to stick to their trading plan, even when market conditions are challenging. They also have the patience to wait for the right trading opportunities to arise, rather than making impulsive decisions.

3. Risk management: Successful forex traders understand the importance of risk management and implement strategies to limit their losses. This includes using stop-loss orders, managing position sizes, and avoiding over-leveraging.

4. Emotional control: Successful forex traders are able to control their emotions and avoid making decisions based on fear, greed, or other emotional factors. They remain calm and objective, even in the face of unexpected market movements or losses.

5. Continuous learning and adaptation: Successful forex traders are always learning and adapting to changing market conditions. They are open to new ideas and strategies, and are willing to modify their approach when necessary.

Overall, success in forex trading requires a combination of knowledge, discipline, risk management, emotional control, and continuous learning and adaptation. By developing these skills and qualities, traders can increase their chances of success in the competitive and dynamic world of forex trading.

Can anyone be good at forex trading or do you need to be good at maths?

Forex trading does not require advanced mathematical skills, although having a basic understanding of arithmetic, percentages, and statistics can be helpful.

While mathematical calculations are involved in forex trading, they are typically fairly simple. Traders need to be able to calculate profits and losses, determine position sizes, and calculate risk and reward ratios. Most trading platforms have built-in calculators that make these calculations easy and straightforward.

In fact, successful forex trading is more about understanding market dynamics, economic events, and technical analysis than it is about advanced mathematics. It requires a combination of analytical skills, discipline, and emotional control.

However, it is important to note that forex trading can be challenging and requires a significant amount of time and effort to master. It is not a get-rich-quick scheme, and traders should be prepared to invest time and resources into developing their skills and knowledge.

Ultimately, anyone can become a successful forex trader with the right mindset, discipline, and willingness to learn and adapt to changing market conditions. While mathematical skills can be helpful, they are not a requirement for success in forex trading.

Is it possible to learn to day trade whilst working full time?

Yes, it is possible to learn to day trade while working full time, although it can be challenging. Day trading requires a significant amount of time and effort, and it is important to be able to devote sufficient time and attention to learning and practicing the necessary skills.

Here are some tips for learning to day trade while working full time:

1. Set realistic goals: Be realistic about the time and resources you can dedicate to day trading while working full time. Set achievable goals and develop a plan to gradually increase your trading activities as you gain more experience and confidence.

2. Create a schedule: Create a schedule that allows you to dedicate specific times for learning and practicing day trading skills. This may involve waking up early, working during lunch breaks, or dedicating time in the evenings or on weekends.

3. Focus on quality over quantity: Rather than trying to trade every day, focus on making high-quality trades that align with your trading strategy and risk management plan.

4. Use online resources: Take advantage of online resources, such as trading courses, webinars, and forums, to supplement your learning and gain insights from experienced traders.

5. Practice with a demo account: Practice trading with a demo account before risking real money. This will help you to develop your skills and gain confidence without risking your capital.

Remember, day trading requires discipline, patience, and a willingness to learn. While it can be challenging to balance day trading with a full-time job, it is possible with the right mindset and approach.

Can a trading mentor help to improve your day trading skills?

Yes, a trading mentor can be very helpful in improving your day trading skills. A good trading mentor can provide you with guidance, support, and feedback on your trading strategies, techniques, and decision-making processes. They can also help you identify your strengths and weaknesses, and provide you with personalised advice on how to improve your trading performance.

A trading mentor can also help you develop a trading plan that is tailored to your goals and risk tolerance, and provide you with insights into the markets, including trends, patterns, and news events that may impact your trades. They can also help you stay disciplined and focused, and avoid common pitfalls and mistakes that can lead to losses.

However, it is important to note that not all trading mentors are created equal, and you should carefully choose someone who has a proven track record of success and is aligned with your trading style and goals. You should also be prepared to put in the necessary time and effort to learn and implement the strategies and techniques that your mentor recommends.

How can I find a good trading mentor?

1. Look for someone with a proven track record: You want to learn from someone who has a successful trading history and can provide you with a track record of their past trades and performance.

2. Find someone who aligns with your trading style and goals: Different traders have different styles and goals, so it’s important to find a mentor who can provide guidance and support that is aligned with your own approach.

3. Check their credentials: Look for mentors who have relevant experience, education, and certifications in the area of trading that you’re interested in.

4. Seek recommendations and referrals: Ask other traders or professionals in the industry for recommendations or referrals to mentors they’ve worked with or know of.

5. Consider their teaching style: A good mentor should be able to explain complex concepts in a way that is easy to understand and should be patient in answering your questions.

6. Evaluate their availability and communication: Look for a mentor who is available to communicate with you regularly and is responsive to your inquiries.

7. Consider the cost: Mentorship programs can be expensive, so be sure to evaluate the cost and ensure that the benefits outweigh the cost.

Remember that finding a good mentor takes time and effort, but it can be worth it in the long run if it helps you improve your trading skills and achieve your goals.

Until next time, Happy Trading!

Love from, Your Trading Mentor,

Trading Angel x

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WHAT IS A TRADING PLAN ?

And How To Build A Good One

By Your Trading Mentor,

Trading Angel

WHAT IS A TRADING PLAN? 

A trading plan is a written set of rules and guidelines that a trader follows when making trades in the financial markets. The purpose of a trading plan is to provide a clear and structured approach to trading that takes into account a trader’s goals, risk tolerance, and overall strategy.

A typical trading plan will include the following elements:

1. Trading goals: A clear statement of what the trader aims to achieve from trading, such as a target profit level or a certain number of successful trades.

2. Risk management: A plan for managing risk that includes setting stop-loss and take-profit levels and determining the maximum amount of capital that can be put at risk in any one trade.

3. Trading strategy: A set of rules for identifying potential trading opportunities and entering and exiting trades, based on technical or fundamental analysis, or a combination of both.

4. Trading journal: A record of all trades made, including the reasons for the trade, the entry and exit points, and the outcome.

5. Review and evaluation: A plan for regularly reviewing and evaluating the trading plan to identify areas for improvement and to ensure that the plan remains aligned with the trader’s goals and risk tolerance.

A trading plan is an essential tool for any trader, as it provides a framework for making informed trading decisions and helps to minimise the impact of emotions on trading. By following a trading plan, traders can increase their chances of success and achieve their trading goals over the long term.

What is the difference between a trading plan and a trading strategy?

A trading plan and a trading strategy are related concepts, but they are not the same thing.

A trading plan is a comprehensive, written document that outlines a trader’s approach to the market. It covers all aspects of trading, including risk management, trading goals, and evaluation criteria. A trading plan is a long-term document that provides guidance and structure for a trader’s overall approach to trading.

On the other hand, a trading strategy is a specific set of rules and guidelines that a trader uses to make individual trading decisions. A trading strategy may be based on technical analysis, fundamental analysis, or a combination of both. It is more focused than a trading plan and is designed to provide a framework for making individual trading decisions.

To sum up, a trading plan is a comprehensive document that provides guidance and structure for a trader’s overall approach to trading, while a trading strategy is a specific set of rules and guidelines that a trader uses to make individual trading decisions within the framework of the trading plan.

Why is it important to have a trading plan?

1. Provides structure: A trading plan provides structure and a clear set of guidelines for making trading decisions. This helps traders to avoid impulsive or emotional decisions and to stick to a consistent approach to trading.

2. Helps manage risk: A trading plan includes risk management strategies that help traders to limit their losses and protect their capital. This can help to ensure that traders don’t blow their entire account on a single bad trade.

3. Defines trading goals: A trading plan helps traders to identify their trading goals and to develop a plan for achieving them. This can help to keep traders motivated and focused on their long-term objectives.

4. Improves consistency: By following a trading plan, traders can improve their consistency in trading, which can lead to better results over time.

5. Facilitates evaluation: A trading plan provides a framework for evaluating trading performance and making adjustments as needed. This helps traders to identify areas for improvement and to refine their approach to trading over time.

Overall, having a trading plan is an essential tool for any trader, as it provides a clear and structured approach to trading that can help to minimise risk and improve results over the long term.

What are the consequences of not having a trading plan?

Not having a trading plan can lead to a number of negative consequences for traders, including:

1. Poor risk management: Without a trading plan, traders may be more likely to take on excessive risk, such as placing trades that are larger than their account size can handle or failing to use stop-loss orders to limit losses.

2. Emotional trading: Without a trading plan, traders may be more likely to make impulsive or emotional trading decisions based on fear or greed. This can lead to poor performance and erratic trading results.

3. Lack of consistency: Without a trading plan, traders may lack consistency in their approach to trading, which can make it difficult to evaluate their performance over time and to identify areas for improvement.

4. Inability to achieve trading goals: Without a clear plan for achieving their trading goals, traders may struggle to make progress towards their objectives, which can lead to frustration and discouragement.

5. Missed opportunities: Without a trading plan, traders may miss out on potential trading opportunities or fail to take advantage of favourable market conditions.

In summary, not having a trading plan can lead to poor risk management, emotional trading decisions, lack of consistency, inability to achieve trading goals, missed opportunities, and ultimately, poor trading performance. It is therefore essential for traders to have a well-defined trading plan in place that they can follow consistently.

What are the key elements of a good trading plan?

A good trading plan should include the following key elements:

1. Trading goals: A clear statement of what the trader aims to achieve from trading, such as a target profit level or a certain number of successful trades.

2. Risk management: A plan for managing risk that includes setting stop-loss and take-profit levels and determining the maximum amount of capital that can be put at risk in any one trade.

3. Trading strategy: A set of rules for identifying potential trading opportunities and entering and exiting trades, based on technical or fundamental analysis, or a combination of both.

4. Trading journal: A record of all trades made, including the reasons for the trade, the entry and exit points, and the outcome.

5. Review and evaluation: A plan for regularly reviewing and evaluating the trading plan to identify areas for improvement and to ensure that the plan remains aligned with the trader’s goals and risk tolerance.

6. Market analysis: A plan for analysing the market, including the use of technical and fundamental analysis tools, to identify potential trading opportunities.

7. Trading rules: A set of rules for making trading decisions, including criteria for entering and exiting trades, risk management guidelines, and rules for managing trades once they are open.

8. Trading psychology: A plan for managing emotions and maintaining discipline when trading, including strategies for dealing with fear, greed, and other emotions that can impact trading performance.

Overall, a good trading plan should be comprehensive, flexible, and adaptable to changing market conditions. It should provide clear guidelines for making trading decisions, while also allowing for some degree of discretion and creativity in responding to market dynamics. By following a well-defined trading plan, traders can increase their chances of success and achieve their trading goals over the long term.

How do I create a trading plan which is suited to my trading style?

Creating a trading plan that is suited to your trading style involves several key steps:

1. Determine your trading style: Before creating a trading plan, it is important to understand your trading style. Do you prefer short-term or long-term trades? Are you a day trader or a swing trader? Do you prefer technical analysis or fundamental analysis? Understanding your trading style will help you develop a plan that is tailored to your strengths and preferences.

2. Define your goals: What do you want to achieve with your trading? Do you want to generate income, build long-term wealth, or simply gain experience? Defining your goals is important in determining the appropriate trading strategy and risk management techniques.

3. Develop a trading strategy: Based on your trading style and goals, you should develop a trading strategy that outlines your entry and exit points, position sizing, and risk management techniques. Your strategy should be based on a thorough analysis of the market and your trading style.

4. Set risk management parameters: Risk management is crucial to successful trading. You should define your risk tolerance and set stop loss orders to limit your losses. You should also determine your position sizing based on your risk tolerance and the size of your trading account.

5. Monitor and adjust your plan: Once you have developed a trading plan, you should monitor your performance and adjust your plan as needed. This may involve modifying your strategy based on changing market conditions or adjusting your risk management parameters based on your performance.

Overall, creating a trading plan that is suited to your trading style requires careful analysis and planning. By defining your goals, developing a trading strategy, and implementing effective risk management techniques, you can increase your chances of success in the markets.

A TRADING MENTOR CAN HELP!

Working with a trading mentor can be helpful in creating a good trading plan. A mentor can provide guidance and insight based on their own experience and expertise, which can be invaluable in developing a plan that is tailored to your trading style and goals.

A good trading mentor can help you to identify your strengths and weaknesses as a trader, and provide feedback on your trading plan, including your trading strategy, risk management techniques, and overall approach to the markets. They can also help you to identify potential pitfalls and provide advice on how to avoid them.

However, it is important to choose a mentor who is experienced and knowledgeable in the specific market or trading style that you are interested in. You should also ensure that the mentor’s trading philosophy and approach aligns with your own goals and preferences.

Ultimately, while a trading mentor can be helpful in creating a good trading plan, it is important to remember that your success as a trader ultimately depends on your own abilities, discipline, and commitment to your trading plan.

Until next time, Happy Trading! 

Love From, Your Trading Mentor,

Trading Angel x 

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WHAT ARE STOP LOSSES AND TAKE PROFITS?

And Why Should You Always Set These?

By Your Trading Mentor,

Trading Angel

What are stop loses and take profits in trading?

Stop losses and take profits are orders used in trading to manage risk and protect profits.

A stop loss order is an instruction to a broker or trading platform to close a trade if the price of an asset reaches a certain level. For example, if you buy a stock at £50 and set a stop loss order at £45, the trade will be automatically closed if the price falls to £45. The purpose of a stop loss order is to limit potential losses by closing a trade before the price falls too far.

A take profit order is an instruction to a broker or trading platform to close a trade when the price of an asset reaches a certain level of profit. For example, if you buy a stock at £50 and set a take profit order at £60, the trade will be automatically closed when the price reaches £60. The purpose of a take profit order is to lock in profits by closing a trade at a predetermined profit level.

Stop losses and take profits can be set for any type of trading instrument, including stocks, forex, commodities, and cryptocurrencies. They are commonly used by traders to manage risk and protect profits, especially in volatile markets.

Overall, stop losses and take profits are orders used in trading to manage risk and protect profits. They can help traders to limit potential losses and lock in profits by automatically closing trades at certain price levels.

What are the consequences of not setting appropriate stop losses and take profits when you are day trading?

Not setting appropriate stop losses and take profits when day trading can have significant consequences. Here are some of the possible outcomes:

1. Losses can pile up quickly: Without a stop loss in place, a losing trade can continue to go against you and lead to significant losses. This can wipe out your account balance, leaving you with nothing to trade with.

2. Emotional trading: Day trading can be stressful, and without stop losses and take profits in place, you may find yourself making emotional trading decisions that can lead to further losses. Fear and greed can take over, causing you to hold onto losing trades for too long or take profits too early.

3. Missed opportunities: Without a take profit level in place, you may miss out on potential profits when a trade moves in your favour. This can leave you with a smaller profit than you could have achieved if you had taken profits at the appropriate level.

4. Inconsistent trading: Trading without a plan that includes stop losses and take profits can lead to inconsistent results. You may find yourself making impulsive decisions that don’t align with your overall trading strategy, making it harder to achieve your goals.

Overall, not setting appropriate stop losses and take profits when day trading can lead to significant losses, missed opportunities, and emotional trading decisions that can negatively impact your trading performance. It is important to have a solid trading plan in place that includes these risk management tools to help you stay disciplined and achieve your trading goals.

What are popular ways to determine stop loses in trading?

1. Percentage-based stops: This method involves setting a stop loss level based on a percentage of the price at which you entered the trade. For example, you might set a stop loss at 2% below your entry price, which would limit your potential loss if the trade goes against you.

2. Volatility-based stops: Volatility-based stops are calculated based on the volatility of the asset you are trading. One popular method is the Average True Range (ATR) stop, which uses the ATR indicator to determine the stop loss level based on the current market volatility.

3. Support and resistance stops: Support and resistance levels are key levels on a chart where price has previously found support or resistance. Traders often use these levels to set stop losses as they can indicate where price may find support or resistance again in the future.

4. Moving average stops: Moving averages are used to smooth out price action on a chart, and traders often use them to set stop losses. One popular method is to set the stop loss just below the moving average, which can act as a support level.

5. Time-based stops: Time-based stops are set based on a predetermined time frame. For example, you might set a stop loss on a day trade that expires at the end of the trading day, limiting your potential loss if the trade doesn’t go as planned.

It’s important to note that there is no one-size-fits-all approach to setting stop losses, and different traders may prefer different methods depending on their trading style and risk tolerance. Ultimately, the goal of setting a stop loss is to manage risk and protect your trading capital, so it’s important to choose a method that works for you and your trading strategy.

What are popular ways to determine take profits in trading?

1. Price targets: One of the simplest ways to determine a take profit level is to set a specific price target based on technical analysis. This could be a key level of support or resistance, a Fibonacci retracement level, or a price level where you expect the market to reverse.

2. Risk-to-reward ratio: Many traders use a risk-to-reward ratio to determine their take profit levels. This involves setting a take profit level that is a certain multiple of the distance from the entry point to the stop loss level. For example, if your stop loss is 50 pips away and you want a risk-to-reward ratio of 1:2, your take profit would be set at 100 pips away.

3. Trailing stops: Trailing stops are a popular way to lock in profits while still giving the trade room to move in your favour. A trailing stop is a stop loss level that moves in your favour as the trade moves in profit. This allows you to capture more profit if the trade continues to move in your favour, while still protecting your capital if the trade reverses.

4. Candlestick patterns: Some traders use candlestick patterns to determine their take profit levels. For example, if you are trading a bullish reversal pattern like a hammer or a bullish engulfing pattern, you might set your take profit at the next key level of resistance.

5. Moving averages: Moving averages can also be used to determine take profit levels. For example, you might set your take profit just below a key moving average that is acting as a resistance level.

As with stop losses, there is no one-size-fits-all approach to setting take profits. The best approach will depend on your trading style, risk tolerance, and the specific market you are trading. Ultimately, the goal of setting a take profit is to lock in profits while still allowing the trade room to move in your favour, so it’s important to choose a method that works for you and your trading strategy.

Why should you set stop loses and profits?

You should set take profits and stop losses in forex trading to manage your risk and maximise your potential profits.

A take profit order is an order to close a trade at a specified price level that is higher than the current market price. This order is used to lock in profits when the market moves in your favour. By setting a take profit order, you can ensure that you exit a trade at a predetermined profit level, rather than waiting for the market to reverse and potentially erode your profits.

A stop loss order, on the other hand, is an order to close a trade at a specified price level that is lower than the current market price. This order is used to limit your potential losses if the market moves against you. By setting a stop loss order, you can limit your potential losses to a predetermined level, which can help to protect your trading account from large drawdowns.

Setting take profits and stop losses can help you to manage your risk in forex trading by limiting your potential losses and locking in profits. This can help you to avoid emotional and impulsive trading decisions, which can lead to large losses.

In addition, setting take profits and stop losses can also help you to stay disciplined in your trading by providing a clear plan for exiting trades. This can help you to avoid holding onto losing trades for too long, or closing profitable trades too early.

Overall, setting take profits and stop losses is an important part of any forex trading strategy, as it can help you to manage risk and maximise profits while maintaining discipline in your trading.

Until next time, Happy Trading!

Love from, Your Trading Mentor,

Trading Angel x

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WHAT IS A RISK TO REWARD RATIO IN TRADING?

And How Can You Use It To Be A Better Trader?

By Your Trading Mentor,

Trading Angel

Risk to reward ratio (RRR) is a commonly used metric in trading that measures the potential profit of a trade relative to its potential loss. The ratio compares the amount of risk taken on a trade (i.e., the potential loss) to the potential reward of the trade (i.e., the potential profit).

A risk to reward ratio of 1:2 means that the potential profit of a trade is twice the amount of the potential loss. For example, if a trader is willing to risk £100 on a trade, they would be looking for a potential profit of £200 or more, resulting in a 1:2 risk to reward ratio.

A good risk to reward ratio is generally considered to be at least 1:2 or higher, meaning that the potential profit is at least twice the potential loss. This is because a higher risk to reward ratio means that a trader can potentially make a profit even if they are only correct on a relatively small percentage of their trades.

A risk to reward ratio can be calculated for any trading strategy or individual trade, and is an important aspect of risk management. By setting a target risk to reward ratio for each trade, a trader can better manage their risk and ensure that they are only taking trades with a high potential payoff relative to the potential risk.

One of my personal favourite ways to think about a risk to reward ratio before placing any trade is to ask yourself the question, (on a RRR of 1:10 for example) would I give £1 for the potential to gain £10 knowing I had a 50% chance of losing the £1 for good? In this example my clear and honest answer is YES that’s a great offer, law of averages says I can lose a couple times and eventually I should make a win that covers the loses. But if I was to say would I give £5 to potentially win £6 with a 50% chance of losing my £5 for good, then the potential win no longer seems worth it as I would have to know I was going to win a disproportionate amount of times overall in order to definitely be up. 

Another way that I like to use RRR in my personal trading is to stop me from making impulsive or FOMO trades. Before any trade I place I ask myself the question ‘Does this trade have a good risk to reward ratio?’ And if I can’t honestly and easily answer YES then I probably don’t have a trade which is worth taking and I’m probably just looking for an excuse to trade rather then actually having a great trade set up in front of me. 

So now we know what risk to reward ratio or RRR is, let’s have a look at all the different ways it can be used to make you a better trader. 

How can you use RRR to be a better trader?

Using your risk to reward ratio effectively can help you become a better trader in several ways:

1. Better risk management: By setting a specific risk to reward ratio for each trade, you can better manage your risk. This means you can calculate the potential loss upfront and determine if it is worth taking the trade. A good risk to reward ratio helps you to avoid trades with a low potential reward relative to the potential risk.

The risk to reward ratio is key to risk management in trading because it helps traders to manage their trades effectively by limiting potential losses and maximising potential gains. Here are some reasons why a good risk to reward ratio is important for risk management in trading:

 Limits potential losses: By setting a specific risk to reward ratio for each trade, traders can limit the potential losses they could incur on a trade. This means that even if the trade is not successful, the trader knows exactly how much they will lose and can plan accordingly.

 Maximises potential gains: A good risk to reward ratio allows traders to maximise their potential gains on a trade. By setting a target for the potential profit and ensuring that it is significantly higher than the potential loss, traders can make more money on their winning trades than they lose on their losing trades.

 Helps to determine trade size: A risk to reward ratio can also help traders to determine the appropriate trade size for each trade. By factoring in the potential loss and potential profit, traders can calculate the appropriate position size that aligns with their risk management strategy.

 Promotes consistency: A consistent risk to reward ratio helps to promote consistency in a trader’s approach to trading. This consistency enables traders to have a more structured trading plan, which can help them to avoid impulsive or emotional trading decisions.

 Increases trading confidence: A good risk to reward ratio can also increase a trader’s confidence in their trading strategy. By knowing that their potential losses are limited and their potential gains are maximised, traders can approach their trades with more confidence and a clearer mindset.

The risk to reward ratio is key to risk management in trading because it helps traders to limit potential losses, maximise potential gains, determine trade size, promote consistency, and increase trading confidence.

2. Improved profitability: A higher risk to reward ratio can improve your profitability over time. Even if you are only correct on a relatively small percentage of your trades, a good risk to reward ratio ensures that you make more profit on your winning trades than you lose on your losing trades.

The risk to reward ratio is the ratio of the potential profit on a trade compared to the potential loss. For example, if you enter a trade with a potential profit of £100 and a potential loss of £50, your risk to reward ratio would be 1:2.

A good risk to reward ratio is typically considered to be at least 1:2 or higher, meaning that the potential profit is at least twice the potential loss. By having a good risk to reward ratio, you can limit your losses while maximising your potential gains.

When you have a good risk to reward ratio, you can enter trades with a higher degree of confidence, knowing that even if some trades are losers, your winners will more than make up for them. This can help you to avoid overtrading and chasing losses, which can be detrimental to your profitability.

Overall, a good risk to reward ratio can be a key factor in successful trading by helping you to manage your risk and maximise your potential rewards.

3. Consistency: A consistent risk to reward ratio helps to promote consistency in your trading approach. This consistency enables you to have a more structured trading plan, which can help you to avoid impulsive or emotional trading decisions.

When you have a good risk to reward ratio, you have a predefined ratio of potential profit to potential loss for each trade. This helps you to set clear and consistent trading rules that you can follow regardless of market conditions or emotions.

By having a clear risk to reward ratio, you can more easily manage your trades and avoid making impulsive decisions. For example, if a trade is not meeting your predefined risk to reward ratio, you can exit the trade without hesitation and move on to the next opportunity.

Additionally, having a good risk to reward ratio can help you to maintain discipline in your trading and avoid overtrading. By only taking trades that meet your predefined risk to reward ratio, you can avoid taking unnecessary risks and focus on high-quality trades that have the potential for a favourable outcome.

Overall, a good risk to reward ratio can help you to stay consistent in your trading by providing a clear and consistent framework for managing your trades and reducing emotional decision-making. This can help you to achieve long-term success in the markets.

4. Better decision making: When you have a specific risk to reward ratio in mind for each trade, you are more likely to make better trading decisions. You will be less likely to take trades that do not meet your criteria, and you will be more disciplined in your approach to trading.

Your risk to reward ratio can help you make better trading decisions by providing a clear framework for evaluating potential trades and managing risk.

When you have a predetermined risk to reward ratio in place, you can use it to evaluate potential trades and determine whether they are worth taking. For example, if a trade has a potential reward of £200 and a potential risk of £100, and your minimum risk to reward ratio is 1:2, you would not take the trade because the potential reward is not at least twice the potential risk.

By using your risk to reward ratio to evaluate potential trades, you can avoid taking unnecessary risks and focus on trades that have a high potential for a favourable outcome. This can help you to achieve better results in the long run.

Additionally, your risk to reward ratio can help you to manage risk more effectively. By limiting your potential losses to a predetermined amount, you can avoid taking on too much risk in any one trade. This can help you to protect your trading capital and avoid large drawdowns.

In summary, your risk to reward ratio can help you make better trading decisions by providing a clear framework for evaluating potential trades and managing risk. By using your risk to reward ratio in your trading, you can focus on high-quality trades with a favourable risk to reward ratio and protect your trading capital from excessive risk.

5. Enhance your trading strategy: By evaluating your risk to reward ratio, you can determine if your trading strategy is effective. If you consistently achieve a high risk to reward ratio, it may be a sign that your strategy is working well. If you consistently achieve a low risk to reward ratio, you may need to re-evaluate your strategy and make adjustments.

A good risk to reward ratio can help to enhance your trading strategy by providing a framework for identifying high-quality trading opportunities and managing risk effectively.

When you have a good risk to reward ratio, you can focus on taking trades that have a high potential for a favourable outcome. By only taking trades that meet your minimum risk to reward ratio, you can avoid taking unnecessary risks and focus on trades with a high potential for profit.

A good risk to reward ratio can also help you to manage risk more effectively. By limiting your potential losses to a predetermined amount, you can minimise the impact of losing trades on your trading account. This can help you to avoid large drawdowns and protect your trading capital.

Additionally, a good risk to reward ratio can help you to maintain discipline in your trading. By having a clear framework for evaluating trades and managing risk, you can avoid making impulsive decisions based on emotions or market noise.

Overall, a good risk to reward ratio can help to enhance your trading strategy by providing a clear framework for identifying high-quality trading opportunities and managing risk effectively. By using a risk to reward ratio in your trading strategy, you can focus on trades with a high potential for profit while minimising risk and protecting your trading capital.

In summary, using your risk to reward ratio effectively can help you to better manage your risk, improve your profitability, and become a more disciplined and consistent trader. Before you place any trade, remember to ask yourself the quick question ‘Do I have a good risotto reward ratio?’ And if the answer isn’t a definite YES then you are probably looking at a weak trade which you should consider sitting out of. 

Until next time, Happy Trading!

Love From, Your Trading Mentor,

Trading Angel x 

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THE QUICKEST WAYS TO LEARN TO TRADE

By Your Trading Mentor

Trading Angel

Learning to trade the financial markets can take time and effort, but there are some ways to speed up the process:

1. Take a Course: There are many online courses and training programs available that can teach you the basics of trading and provide you with practical skills. These courses may cover topics such as technical analysis, fundamental analysis, risk management, and trading psychology.

Finding a good forex trading course that’s right for you can be a daunting task. Here are some tips to help you find a course that fits your needs:

 Identify Your Learning Style: Before choosing a course, think about your preferred learning style. Do you prefer to learn through video tutorials, live webinars, or written materials? Knowing your learning style can help you identify a course that fits your preferences.

 Check the Course Content: Look for a course that covers the fundamentals of forex trading, including technical analysis, fundamental analysis, risk management, and trading psychology. Make sure the course provides practical examples and exercises that allow you to apply what you’ve learned.

 Research the Course Provider: Do some research on the course provider to ensure they are reputable and have a track record of delivering quality education. Check online reviews and testimonials from other students to get a sense of their experiences.

 Check the Instructor’s Credentials: Look for a course taught by an experienced forex trader or educator with a track record of success. Check their credentials, such as their trading experience, education, and any certifications or awards they have received.

 Consider the Cost: Forex trading courses can vary in price, so consider your budget when choosing a course. While a higher price does not necessarily mean better quality, it’s important to invest in a course that provides value for your money.

 Look for Additional Resources: A good forex trading course should provide additional resources such as trading tools, support forums, and ongoing education. These resources can help you continue to develop your skills and stay up-to-date with market trends.

By considering these factors, you can find a forex trading course that is right for you and provides the education and support you need to become a successful forex trader.

2. Read Books: Reading books by experienced traders and financial experts can provide valuable insights into trading strategies and market behaviour. Some recommended books include “Trading in the Zone” by Mark Douglas, “The Intelligent Investor” by Benjamin Graham, and “Reminiscences of a Stock Operator” by Edwin Lefevre.

Picking good books to help you learn how to trade the financial markets can be challenging. Here are some tips to help you find books that are right for you:

 Focus on Your Goals: Consider your goals for trading and what you want to achieve. Do you want to learn about a specific trading strategy or a particular market? Knowing your goals can help you narrow down your book choices.

 Check the Author’s Credentials: Look for books written by authors who are experienced traders or financial experts with a track record of success. Check their credentials, such as their trading experience, education, and any certifications or awards they have received.

 Look for Practical Examples: Look for books that provide practical examples and case studies that show how trading strategies work in real market conditions. This can help you apply what you’ve learned to your own trading.

 Read Reviews: Check online reviews and testimonials from other readers to get a sense of their experiences with the book. Look for reviews from readers who have similar goals and experience levels to you.

 Consider the Publication Date: The financial markets are constantly evolving, so consider the publication date of the book. Look for books that have been updated recently to ensure the information is relevant to current market conditions.

 Check the Table of Contents: Look at the table of contents to see if the book covers the topics you are interested in. Make sure the book provides a comprehensive overview of the subject and is not too technical or advanced for your level of understanding.

By considering these factors, you can find books that are informative, engaging, and relevant to your trading goals and experience level.

3. Practice with a Demo Account: Many brokers offer demo accounts that allow you to practice trading with virtual money in real market conditions. This can be a useful way to test out different trading strategies and get a feel for the markets before risking your own capital.

Practicing day trading on a demo account can be a valuable way to test out different trading strategies and get a feel for the markets before risking your own capital. Here are some tips for making the most of your demo account:

 Treat Your Demo Account Like a Real Account: To get the most out of your demo account, treat it as if it were a real account with your own money on the line. Practice good risk management principles, such as setting stop-loss orders and limiting your position sizes.

 Use Realistic Trading Conditions: Set up your demo account to mirror the real trading conditions you plan to trade with when you start using a live account. This includes setting the same account balance, leverage, and trading platform settings.

 Test Different Trading Strategies: Use your demo account to test out different trading strategies and techniques. Try out different technical indicators, chart patterns, and trading styles to see what works best for you.

 Keep a Trading Journal: Keep a trading journal to record your trades, the reasoning behind your decisions, and the outcomes. This can help you identify patterns in your trading and areas where you need to improve.

 Focus on Your Trading Psychology: Day trading can be stressful, so use your demo account to practice managing your emotions and maintaining discipline. Set realistic goals, stick to your trading plan, and learn to control your emotions.

 Get Feedback: Use online trading communities or forums to get feedback on your trades and learn from other traders. Share your trades and ask for feedback on areas where you can improve your strategy and trading skills.

By following these tips, you can use your demo account to practice day trading in a realistic and disciplined manner, and develop the skills and confidence you need to succeed in the markets.

4. Join Trading Communities: Joining online communities or trading forums can provide access to a wealth of information and insights from experienced traders. These communities can help you stay up-to-date with market news and trends, and provide support and guidance as you develop your trading skills.

There are several ways to find a good day trading community to join:

 Research online: Use search engines to find online day trading communities. Look for communities that have active discussions, experienced traders, and a positive atmosphere. Some popular day trading communities include TradingView, StockTwits, and Reddit’s r/DayTrading.

 Attend trading events: Attend trading events, seminars, and conferences to network with other traders and find a community that you resonate with. You can find these events online or through local trading organisations.

 Join social media groups: Join social media groups that focus on day trading. Facebook, LinkedIn, and Twitter all have groups dedicated to trading. Joining these groups can help you connect with other traders and learn from their experiences.

 Ask for recommendations: Reach out to other traders you know and ask for recommendations for a good day trading community. They may be able to recommend a community they have found helpful and engaging.

When evaluating a day trading community, look for one that provides valuable information, has active discussion forums, and is supportive and encouraging. It is also important to ensure that the community aligns with your trading goals and strategies.

5. Seek Mentorship: Finding a mentor who is an experienced trader can be a valuable way to accelerate your learning. A mentor can offer personalised guidance and feedback, and help you identify areas where you need to improve your trading skills.

Finding a good forex trading mentor in the UK can be a challenge, but here are some steps you can take to increase your chances of finding a suitable mentor:

 Research online: Use search engines and online trading forums to find forex trading mentors in the UK. Look for mentors who have a strong track record of successful trading and positive reviews from their clients.

 Attend trading events: Attend trading events, seminars, and conferences in the UK to network with other traders and potentially find a mentor. Many experienced traders often attend these events, and you may be able to connect with someone who can help you.

 Join trading groups: Join trading groups in the UK that focus on forex trading. These groups may have experienced traders who are willing to provide guidance and mentorship.

 Check professional associations: Check professional associations such as the UK Society of Technical Analysts or the Chartered Institute for Securities & Investment for their directory of members. You may find a mentor who is a member of these organisations.

 Ask for referrals: Reach out to other traders or friends in the UK who may know of a good forex trading mentor. They may be able to refer you to someone they have worked with before.

When evaluating a forex trading mentor, look for someone who has a proven track record of successful trading, has a teaching style that aligns with your learning preferences, and is willing to invest time and effort in your development as a trader. It’s also important to ensure that you have a good rapport with your mentor and that they are someone you can trust and communicate with effectively.

Until next time, Happy Trading,

Love From Your Trading Mentor,

Trading Angel x

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WHAT IS SMART MONEY CONCEPTS TRADING?

And Why Is It So Popular?

By Your Trading Mentor,

Trading Angel

THE MENTOR TO YOUR MENTOR?

SMC or Smart Money Concepts Trading has been getting a lot of attention recently as a popular trading style. It’s based on the trading method of the Inner Circle Trader or ICT, the trader who calls himself the mentor to your mentor. Originally I was sceptical but to be honest I recently joined (the cult?) myself and am a huge fan. So although I call myself your trading mentor, as ICT has taught me a lot of my new favourite tricks and strategies and my newest and most favourite strategy is based on his concepts, I will allow him to call himself the mentor to your mentor! That being said the videos are very long and the full course is not for the faint hearted so I thought I would write a little blog post on Smart Money Concepts Trading and why it is so popular. 

If you’d like to get a little deeper into this and see some examples of me trading Smart Money Concepts style then there are plenty of videos up on Trading Angel’s YouTube channel 

https://www.youtube.com/@Trading_Angel

What is SMC?

Smart money trading is a concept that refers to the trading strategies used by financial institutions and large investors to make profits in the financial markets. These traders have access to more information and resources compared to individual retail traders, which gives them an edge in the markets. Smart money trading is all about following the moves made by the big players in the market and using that knowledge to make profitable trades.

The term “smart money” refers to the institutional investors, hedge funds, and other large investors who have deep pockets and extensive resources to research and analyse market trends. Smart money traders have a significant influence on the financial markets because they are responsible for a substantial portion of the trading activity. These traders use advanced technologies, such as algorithmic trading and machine learning, to gain an edge in the market.

One of the key concepts of smart money trading is to follow the trend. Smart money traders look for trends in the market and follow them. They believe that the trend is their friend and that it is easier to make money by following the trend rather than trying to predict it. Trend-following strategies are popular among smart money traders because they can be more reliable than other trading strategies.

Another key concept of smart money trading is to use technical analysis. Smart money traders use technical indicators to identify potential trading opportunities. Technical analysis involves using charts and other tools to analyse market trends and make trading decisions. Technical analysis can be used to identify potential support and resistance levels, which can be used to make trading decisions.

Smart money traders also pay close attention to market news and events. They monitor economic indicators, such as GDP, inflation, and employment data, to get a sense of the overall health of the economy. They also keep an eye on political and geopolitical events that could impact the financial markets. By staying informed about market news and events, smart money traders can make better-informed trading decisions.

In conclusion, smart money trading is all about following the moves made by the big players in the market, using technical analysis, and staying informed about market news and events. Smart money traders have an edge in the market because they have access to more information and resources compared to individual retail traders. While individual traders can learn from the strategies used by smart money traders, it is important to remember that these traders have a higher risk tolerance and more significant resources, which makes their trading strategies different from those used by individual traders.

Why is smart money concepts trading so popular?

In recent years, smart money trading has become increasingly popular among investors and traders. This is because smart money traders have a proven track record of generating consistent profits in the financial markets. In this blog post, we will explore the reasons why smart money concepts trading is so popular.

1. Access to sophisticated technology and resources

Smart money traders have access to advanced trading technologies and resources that individual retail traders do not. They use powerful computers and algorithms to analyze market trends and make trading decisions. They also have access to exclusive research and analysis from top financial institutions, which allows them to make informed trading decisions.

2. Ability to move the markets

Smart money traders have a significant impact on the financial markets. They are responsible for a large portion of the trading activity, and their buying and selling decisions can move the markets. Retail traders do not have this kind of influence on the markets, which makes it more difficult for them to generate consistent profits.

3. Focus on long-term profitability

Smart money traders have a long-term focus when it comes to trading. They are not interested in making short-term gains or taking unnecessary risks. Instead, they focus on generating consistent profits over the long-term. This approach to trading is more sustainable and less risky than the short-term focus of many individual traders.

4. Use of advanced trading strategies

Smart money traders use advanced trading strategies that are not commonly used by individual retail traders. They use technical analysis, trend-following strategies, and other sophisticated trading techniques to identify potential trading opportunities. These strategies have been proven to be effective in generating consistent profits in the financial markets.

5. Diversification of portfolio

Smart money traders are known for their diversified portfolios. They invest in a wide range of assets, such as stocks, bonds, commodities, and currencies. This diversification reduces their overall risk and helps them to generate consistent profits even in turbulent market conditions.

Smart money concepts trading is popular because it offers investors and traders a proven way to generate consistent profits in the financial markets. Smart money traders have access to advanced technology and resources, have the ability to move the markets, focus on long-term profitability, use advanced trading strategies, and have diversified portfolios. While individual traders can learn from the strategies used by smart money traders, it’s important to remember that these traders have a higher risk tolerance and more significant resources, which makes their trading strategies different from those used by individual traders.

Here is a trading plan for a smart money concepts day trading strategy:

1. Identify the Trend: The first step is to identify the trend of the market. Smart money traders believe that the trend is their friend, so it’s important to determine whether the market is in an uptrend, downtrend, or ranging. Use technical analysis tools like moving averages, trend lines, and support and resistance levels to identify the trend.

2. Identify the Key Levels: Once you have identified the trend, the next step is to identify the key levels. These are the levels where smart money traders are likely to enter or exit positions. Look for support and resistance levels, pivot points, and other key levels that are relevant to the trend.

3. Monitor Market News and Events: Smart money traders are always aware of the latest market news and events. Keep an eye on economic data releases, company earnings reports, and other events that could impact the market. This will help you to make informed trading decisions.

4. Use Technical Analysis: Use technical analysis to identify potential entry and exit points. Look for patterns, such as breakouts or pullbacks, that indicate a potential trend reversal or continuation. Use technical indicators, such as RSI, MACD, and Stochastics, to confirm your analysis.

5. Risk Management: Smart money traders always have a risk management plan in place. Set stop-loss orders to limit your losses if the trade goes against you. Use position sizing to ensure that each trade is a small percentage of your overall trading capital.

6. Monitor the Order Book: Smart money traders pay close attention to the order book. They look for large orders or clusters of orders that could indicate the presence of smart money traders. Keep an eye on the order book to identify potential entry and exit points.

7. Exit the Trade: Finally, exit the trade when the market conditions change or your trading plan dictates. Use technical analysis, market news, and your risk management plan to determine when to exit the trade.

A smart money concepts day trading strategy involves identifying the trend, key levels, and market news and events. Use technical analysis to identify potential entry and exit points, and have a risk management plan in place. Monitor the order book for potential entry and exit points, and exit the trade when the market conditions change or your trading plan dictates. By following these steps, you can increase your chances of success as a smart money trader.

FOR A BIT OF BALANCE…

While trading using smart money concepts can be effective, there are also some potential disadvantages to consider:

1. Limited Market Coverage: Smart money concepts typically focus on a limited number of stocks or assets that are heavily traded by institutional investors. This approach may limit your exposure to a broader range of investment opportunities.

2. Timing: Smart money concepts often involve tracking changes in institutional ownership or monitoring insider buying and selling. These activities can be time-consuming and may require constant monitoring to identify profitable opportunities.

3. Risk Management: Investing based on smart money concepts can pose risks if you do not have a solid risk management strategy. The actions of institutional investors or insiders can be unpredictable, and there is always the possibility of unexpected market events that can impact your investment.

4. Information Availability: Access to the same information as institutional investors or insiders can be challenging for retail investors. While there are many sources of information available, it can be difficult to determine which sources are reliable and which are not.

5. High Transaction Costs: Trading based on smart money concepts may involve frequent buying and selling of stocks, which can result in high transaction costs. These costs can eat into your profits and make it more difficult to generate returns that are competitive with institutional investors.

There are many more elements to trading smart money concepts which haven’t been included here but if you’d like to get a little deeper into this and see some examples of me trading Smart Money Concepts style then there are plenty of videos up on Trading Angel’s YouTube channel 

https://www.youtube.com/@Trading_Angel

Until next time, Happy Trading!

Love From, Your Trading Mentor 

Trading Angel x 

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WHAT ARE KEY LEVELS IN STOCK TRADING?

And How They Differ From Supply And Demand Zones

By Your Trading Mentor,

Trading Angel

WHAT ARE KEY LEVELS IN TRADING? 

Key levels are important price levels that traders use to identify potential areas of support and resistance in trading. These levels can help traders make more informed decisions about when to enter or exit a trade, and can also help them manage their risk.

Here are some of the key levels that traders commonly use in stock trading:

1. Support Levels

Support levels are price levels at which buyers are expected to enter the market and prevent the price from falling further. When the price approaches a support level, traders may look to buy the stock, as they believe that the price is likely to bounce back up from that level. If the price breaks through a support level, however, it may indicate that the stock is in a downtrend and that further declines are likely.

2. Resistance Levels

Resistance levels are price levels at which sellers are expected to enter the market and prevent the price from rising further. When the price approaches a resistance level, traders may look to sell the stock, as they believe that the price is likely to fall back down from that level. If the price breaks through a resistance level, however, it may indicate that the stock is in an uptrend and that further gains are likely.

3. Pivot Points

Pivot points are calculated based on the high, low, and close prices of the previous trading day, and provide potential support and resistance levels for the current day. Traders use pivot points to identify potential entry and exit points, as well as to set stop-loss orders and profit targets.

4. Fibonacci Levels

Fibonacci levels are based on the Fibonacci sequence of numbers, and are used to identify potential areas of support and resistance based on previous price movements. The key Fibonacci levels used in stock trading are 23.6%, 38.2%, 50%, 61.8%, and 100%. Traders may look for price reversals or breakouts at these levels.

5. Round Numbers

Round numbers, such as £50 or £100, are psychological price levels that can also act as areas of support and resistance. Traders may look for price reactions at these levels, as they are often seen as significant milestones for the stock.

By understanding these levels and how they can affect the price of a stock, traders can make more informed decisions about when to enter or exit a trade. However, it’s important to remember that no level is foolproof and that market conditions can change rapidly. Therefore, it’s important to always have a solid trading plan and to manage risk appropriately.

WHEN TO USE KEY LEVELS IN TRADING

As a trader, identifying key levels is an essential part of your trade setup. Key levels are price points on a chart where price has previously reacted in a significant way. These levels can act as support or resistance and can provide valuable information for making trading decisions. In this blog post, we will discuss when in your trade setup you should identify key levels.

The first step in identifying key levels is to analyse the market and identify the overall trend. This will help you determine whether you should be looking for long or short opportunities. Once you have identified the trend, you can begin to look for significant levels where price has previously reacted.

One common way to identify key levels is to draw support and resistance lines on your chart. Support levels are price points where buying pressure has previously entered the market and stopped the price from falling further. Resistance levels are price points where selling pressure has previously entered the market and stopped the price from rising further. These lines can be drawn by connecting the lows or highs of the price action.

Another way to identify key levels is to use technical indicators such as moving averages, Fibonacci retracements, and pivot points. These indicators can help you identify levels where price is likely to react based on mathematical calculations.

Once you have identified key levels on your chart, it is important to monitor them closely. Price may react differently at each level, and it is important to understand how the market is responding. If price breaks through a key level, it may indicate a shift in the market trend, and you may need to adjust your trading strategy accordingly.

identifying key levels is an important part of any trade setup, and it should be done during the analysis phase of your trading process. Key levels can provide valuable information about the market and can help you make more informed trading decisions. Whether you use support and resistance lines or technical indicators, it is important to monitor key levels closely and adjust your trading strategy accordingly.

HOW TO DRAW ON KEY LEVELS

Here are some effective ways to draw key levels on your trading chart.

1. Identify the key levels – The first step in drawing key levels on your chart is to identify them. Look for areas where price has previously reacted in a significant way, such as areas where price has bounced off a support level or failed to break through a resistance level. Once you have identified these areas, mark them on your chart.

2. Use a line chart – When drawing key levels, it is best to use a line chart rather than a candlestick chart. A line chart will eliminate the noise and help you see the overall trend more clearly, making it easier to identify key levels.

3. Connect the lows/highs – To draw a support or resistance level, connect the lows or highs of the price action. For a support level, connect the lows of the price action, and for a resistance level, connect the highs of the price action. This will help you identify the level more accurately.

4. Check for multiple touches – Once you have drawn the initial line, check for multiple touches on the line. If the line has been touched multiple times, it is likely a strong key level. Adjust the line slightly to fit the touches more accurately.

5. Use horizontal lines for clarity – To make the key levels more visible on your chart, use horizontal lines instead of diagonal lines. This will make the levels stand out more clearly and make them easier to identify.

6. Review and adjust regularly – Key levels can change over time as the market evolves. It is important to review and adjust your key levels regularly to ensure they are still accurate and relevant for your trading strategy.

Remember to review and adjust your key levels regularly to ensure they remain accurate and relevant for your trading strategy.

HOW KEY LEVELS AND SUPPLY AND DEMAND ZONES DIFFER

Key levels and supply and demand zones are two important concepts that traders use to identify potential areas of support and resistance in stock trading. While they may seem similar at first glance, there are some key differences between these two concepts that traders should understand.

Key Levels

Key levels are specific price points that traders use to identify potential areas of support and resistance. These levels may be based on technical analysis tools such as trend lines, moving averages, or Fibonacci retracements. Key levels can also be based on psychological levels, such as round numbers or all-time highs or lows.

The main advantage of trading with key levels is that they provide traders with clear levels to watch for potential price movements. Traders can use these levels to set entry and exit points, as well as to manage their risk by placing stop-loss orders.

However, key levels are not always reliable indicators of support and resistance. The market can be unpredictable and can easily break through a key level, leading to false breakouts or breakdowns.

Supply and Demand Zones

Supply and demand zones are areas on a price chart where the price is likely to encounter significant levels of buying or selling pressure. These zones are based on the idea that when there is more demand than supply, the price is likely to rise, and when there is more supply than demand, the price is likely to fall.

Supply and demand zones can be identified by looking for areas where the price has previously reversed direction. Traders may also use volume analysis to identify areas of high demand or supply.

The main advantage of trading with supply and demand zones is that they provide traders with a more nuanced understanding of market dynamics. By identifying areas of high demand or supply, traders can anticipate potential price movements and adjust their trading strategies accordingly.

However, supply and demand zones can be more difficult to identify than key levels. They may also be less reliable, as the market can break through a supply or demand zone if there is a significant change in market sentiment.

Key Levels vs. Supply and Demand Zones

In summary, key levels and supply and demand zones are both useful concepts for identifying potential areas of support and resistance in stock trading. Key levels provide clear price points for traders to watch, while supply and demand zones provide a more nuanced understanding of market dynamics.

The main difference between these two concepts is that key levels are based on technical analysis tools, while supply and demand zones are based on market sentiment and supply and demand dynamics. Traders should be comfortable with both concepts and use them in combination to maximise their trading strategies.

POPULAR DAY TRADING STRATEGY USING KEY LEVELS

Day trading is a popular trading style that involves buying and selling financial instruments within the same trading day. One popular day trading strategy is to use key levels to identify potential entry and exit points. In this essay, we will explore this strategy in more detail.

The strategy involves identifying key levels on a chart, which are price points where price has previously reacted in a significant way. These levels can act as support or resistance and can provide valuable information for making trading decisions. Traders can use a variety of tools to identify key levels, including support and resistance lines, moving averages, Fibonacci retracements, and pivot points.

Once the key levels have been identified, traders can use them to identify potential entry and exit points. For example, if a trader identifies a strong resistance level, they may look for short opportunities when price reaches that level. Conversely, if a trader identifies a strong support level, they may look for long opportunities when price reaches that level. Traders can use a variety of trading strategies to enter and exit positions, including breakouts, pullbacks, and trend following.

One of the advantages of this strategy is that it can be used in a variety of market conditions. Key levels can provide valuable information in both trending and ranging markets, and traders can adjust their trading strategy accordingly. For example, in a trending market, traders may look for breakouts of key levels to enter trades in the direction of the trend. In a ranging market, traders may look for reversals at key levels to enter trades in the opposite direction.

Another advantage of this strategy is that it can be used across a variety of financial instruments, including stocks, forex, and futures. Traders can use the same tools and techniques to identify key levels and make trading decisions across different markets.

However, there are also some potential drawbacks to this strategy. One potential issue is that key levels may not hold up in all market conditions. For example, a strong level of support may not hold up in a highly volatile market. Additionally, key levels may be more subjective and open to interpretation than other technical indicators, which could lead to different traders identifying different levels.

Using key levels to identify potential entry and exit points is a popular day trading strategy. Traders can use a variety of tools to identify key levels and can adjust their trading strategy to suit different market conditions. While there are some potential drawbacks to this strategy, it can be a valuable tool for traders looking to make informed trading decisions.

Until next time, Happy Trading!

Love From, Your Trading Mentor,

Trading Angel x 

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POPULAR FOREX TRADING INDICATORS

And Some Lesser Known, Advanced Indicators

By Your Trading Mentor,

Trading Angel

Forex trading is a challenging activity that requires traders to analyse market trends and make informed trading decisions. One of the tools that traders use to analyse the market is indicators. Indicators are mathematical calculations based on a currency pair’s price and/or volume. When I first started trading forex I was completely obsessed with indicators as I though there was sure to be one which was the holy grail and told me the exact moment to buy and sell! I realised pretty quickly this was ridiculous. These days I’m actually more of a price action girl myself whilst also being really keen on fundamental analysis and macro economics. Having said that, technical indicators still have their place and can be useful tools either to give you a binary set of rule for your trading plan or also to give you some key information which will help you to analyse how the market is moving and there for how it is likely to move in the future 

In this blog post, we will discuss the advantages of using indicators in forex trading, I will also compare technical indicators to price action trading. 

THE ADVANTAGES OF TECHNICAL INDICATORS 

1. Identify Trends

Indicators can help traders identify trends in the market. By analysing past price movements, traders can determine if a currency pair is trending up or down. Trend-following indicators, such as moving averages, can help traders identify the direction of the trend. This can help traders make informed trading decisions and enter/exit trades at the right time.

2. Confirmation of Price Movements

Indicators can confirm price movements in the market. For example, if a currency pair’s price is increasing, but the RSI indicator is showing that it is overbought, traders may consider selling the currency pair. This is because the RSI is indicating that the price is due for a correction. Indicators can help traders confirm whether the price is overbought or oversold and identify potential entry and exit points for trades.

3. Risk Management

Indicators can help traders manage their risk. By using indicators to set stop-loss orders and take-profit levels, traders can limit their losses and maximise their profits. For example, if a trader enters a long position, they may set a stop-loss order at a level below the entry price. This can help minimise losses if the trade goes against them.

4. Objective Analysis

Indicators can provide traders with objective analysis. Unlike emotions, indicators do not change based on a trader’s mood or bias. They provide traders with objective information that can help them make informed trading decisions. This can help traders avoid impulsive decisions based on emotions, which can lead to losses.

5. Scalping and Day Trading

Indicators can be particularly useful for scalping and day trading. These trading strategies involve making multiple trades within a short period. Indicators can help traders identify potential entry and exit points for trades, and confirm the strength of a trend. This can help traders make quick decisions and execute trades efficiently.

Indicators are useful tools for forex traders. They can help identify trends, confirm price movements, manage risk, provide objective analysis, and aid in scalping and day trading. However, it is essential to note that no indicator can guarantee trading success, and traders should use a combination of indicators and other analysis tools to make informed trading decisions.

COMPARING PRICE ACTION TO INDICATORS

Technical indicators and price action analysis are two of the most popular methods used to analyse the market. I will now compare the benefits of technical indicators in forex trading to price action analysis.

Technical Indicators

Technical indicators are mathematical calculations based on a currency pair’s price and/or volume. Traders use these indicators to identify trends, confirm price movements, manage risk, and provide objective analysis. Here are some benefits of using technical indicators:

1. Objective Analysis: Technical indicators provide traders with objective analysis. Unlike emotions, indicators do not change based on a trader’s mood or bias. They provide traders with objective information that can help them make informed trading decisions.

2. Confirmation of Price Movements: Indicators can help traders confirm price movements in the market. For example, if a currency pair’s price is increasing, but the RSI indicator is showing that it is overbought, traders may consider selling the currency pair. This is because the RSI is indicating that the price is due for a correction.

3. Risk Management: Indicators can help traders manage their risk. By using indicators to set stop-loss orders and take-profit levels, traders can limit their losses and maximise their profits.

Price Action Analysis

Price action analysis is a method of analysing the market by studying the movement of price itself, without relying on technical indicators. Here are some benefits of using price action analysis:

1. Simplicity: Price action analysis is a simple method of analysing the market. It involves studying candlestick charts and identifying patterns and trends in the price movement.

2. Flexibility: Price action analysis is a flexible method of analysing the market. Traders can use it on any currency pair and any timeframe.

3. Real-time Analysis: Price action analysis provides traders with real-time analysis of the market. Traders can quickly identify potential entry and exit points for trades based on the current price movement.

Comparison

Both technical indicators and price action analysis have their benefits in forex trading. Technical indicators provide objective analysis, confirmation of price movements, and risk management. Price action analysis, on the other hand, is a simple and flexible method of analysing the market that provides real-time analysis.

Ultimately, the choice between technical indicators and price action analysis depends on the trader’s trading style and preferences. Some traders prefer to use technical indicators to confirm price movements and manage risk, while others prefer to use price action analysis to identify patterns and trends in the price movement. It is important to note that no single method can guarantee trading success, and traders should use a combination of methods and analysis tools to make informed trading decisions.

FOREX TRADING INDICATORS

POPULAR TECHNICAL INDICATORS 

Forex trading indicators are tools used by traders to analyse market trends and make informed trading decisions. There are numerous indicators available, and each one serves a specific purpose. Here I will discuss some of the most popular forex trading indicators.

1. Moving averages

Moving averages are one of the most widely used indicators in forex trading. They are used to identify trends and determine the direction of the market. Moving averages come in different forms, such as simple moving averages and exponential moving averages. Traders often use them to identify support and resistance levels, and to determine entry and exit points for trades.

2. Relative strength index (RSI)

The RSI is a momentum indicator that measures the strength of a currency pair’s price action. It oscillates between 0 and 100, with readings above 70 indicating overbought conditions and readings below 30 indicating oversold conditions. Traders use the RSI to determine when to enter or exit a trade, and to confirm the strength of a trend.

3. Bollinger Bands

Bollinger Bands are a volatility indicator that consists of three lines. The middle line is a moving average, and the upper and lower lines are two standard deviations away from the moving average. Traders use Bollinger Bands to identify potential breakouts and trend reversals. When the price of a currency pair moves outside the upper or lower band, it is considered to be a potential trading opportunity.

4. Fibonacci retracements

Fibonacci retracements are a technical analysis tool used to identify levels of support and resistance. They are based on the Fibonacci sequence, which is a mathematical pattern found in nature. Traders use Fibonacci retracements to identify potential entry and exit points for trades, as well as to determine profit targets and stop-loss levels.

5. MACD

The MACD (Moving Average Convergence Divergence) is a trend-following momentum indicator that measures the difference between two moving averages. It consists of a MACD line and a signal line, which are used to identify potential entry and exit points for trades. Traders also use the MACD to confirm the strength of a trend and to identify potential trend reversals.

In conclusion, there are numerous forex trading indicators available, and each one serves a specific purpose. Moving averages, RSI, Bollinger Bands, Fibonacci retracements, and MACD are some of the most popular indicators used by traders. It is important to note that no single indicator can guarantee trading success, and traders should use a combination of indicators and other analysis tools to make informed trading decisions.

PERHAPS SOME LESSER KNOWN TECHNICAL INDICATORS 

While most traders use popular indicators like moving averages, MACD, and RSI, there are also several lesser-known advanced indicators that can provide valuable insights into market trends and price movements. In this blog post, we’ll explore some of these lesser-known advanced forex trading indicators.

1. Ichimoku Cloud

The Ichimoku Cloud is a technical analysis indicator that was developed by Japanese journalist Goichi Hosoda in the 1930s. It consists of five lines that provide a comprehensive view of price action, including momentum, trend direction, and support and resistance levels. The five lines are:

– Tenkan-sen: A 9-period moving average of the highest high and lowest low over the past 9 periods.

– Kijun-sen: A 26-period moving average of the highest high and lowest low over the past 26 periods.

– Senkou Span A: The average of Tenkan-sen and Kijun-sen, plotted 26 periods ahead.

– Senkou Span B: A 52-period moving average of the highest high and lowest low over the past 52 periods, plotted 26 periods ahead.

– Chikou Span: The closing price of the current candle, plotted 26 periods behind.

The area between Senkou Span A and Senkou Span B is known as the Ichimoku Cloud or Kumo. The thickness of the cloud indicates the strength of support and resistance levels.

2. Fibonacci retracements

Fibonacci retracements are based on the idea that markets tend to retrace a predictable portion of a move, after which they will continue to move in the original direction. This indicator uses horizontal lines to indicate areas of support or resistance at the key Fibonacci levels before the price continues in the original direction. The key levels are 23.6%, 38.2%, 50%, 61.8%, and 100%.

3. Elliot Wave Theory

Elliot Wave Theory is a complex technical analysis indicator that involves identifying patterns in market movements. It is based on the idea that markets move in waves, with each wave consisting of a series of smaller waves. The theory identifies five waves in the direction of the trend, followed by three corrective waves. Traders use Elliott Wave Theory to identify potential entry and exit points.

4. Volume Profile

Volume Profile is a tool that displays the volume traded at each price level over a specified period. This information can be used to identify areas of support and resistance, as well as potential entry and exit points. Volume Profile can also help traders identify areas of high liquidity, which can be useful when placing orders.

5. Relative Vigor Index (RVI)

The Relative Vigor Index is a momentum indicator that compares the closing price to the trading range over a specified period. It is designed to measure the strength of a trend and to identify potential trend reversals. The RVI is calculated by subtracting the closing price from the opening price and dividing the result by the trading range. The result is plotted on a scale from 0 to 100.

In conclusion, these lesser-known advanced forex trading indicators can provide valuable insights into market trends and price movements. However, traders should be cautious when using these indicators, as they can also generate false signals. It is important to thoroughly research each indicator and to test it before incorporating it into a trading strategy.

If you’re wondering what my favourite indicator is, at the moment I would say it is the Smart Money Concepts Indicator on TradingView. If you don’t already have a TradingView account it is my favourite place to do my technical analysis, you can sign up and trial the pro version for free for a month using this link. Just don’t forget to cancel before the month is up if you don’t want to go ahead with your subscription 

https://www.tradingview.com/?offer_id=10&aff_id=25988

Until next time, Happy Trading,

Love From Your Trading Mentor,

Trading Angel x

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THE REAL REASON WHY SOME TRADERS SINK AND SOME TRADERS SWIM 

Risk Management Is More Exciting Than It Sounds 

Day trading can be a lucrative and exciting way to make money in the markets, but it can also be risky. In order to be a successful day trader, it’s important to have a solid risk management plan in place. In this blog post, we’ll explore some ways to reduce risk when day trading. Risk Management may not be the sexiest topic in for trading but believe me, from years working as a trading mentor, it is the difference between those who sink and those who swim.

First of all lets looks at what risk management is and why its so important 

Forex trading is classified as high, risk, high reward investing. When new traders are first attracted to the idea of being a forex trader, often they are just focusing on the high reward element and forgetting that the unlimited potential to make money also comes with the possibility that you can lose absolutely everything. So before you begin you forex trading journey, it’s really important to consider the risk element and decide if this is in fact the right path for you. 

Below I’ve identified the reasons why it’s so important to manage your risk when trading forex. 

1. Protect Your Capital

Risk management is crucial in protecting your trading capital. It helps you to limit your losses and avoid wiping out your entire account. By setting stop-loss orders, you can limit your losses to a predetermined amount. This allows you to stay in the game even when trades go against you. Without risk management, you may be tempted to keep a losing trade open in the hope that the market will turn around. This is a dangerous approach that can lead to significant losses.

2. Manage Your Emotions

Forex trading can be an emotional rollercoaster. Fear, greed, and hope can cloud your judgment and lead to impulsive decisions. Risk management strategies such as setting stop-loss orders and taking profits can help you manage your emotions. By having a plan in place, you can avoid making decisions based on emotions and stick to your trading strategy.

3. Increase Consistency

Risk management can help you achieve consistency in your trading results. By setting consistent risk levels and following a disciplined approach to trading, you can avoid making impulsive decisions that can lead to losses. This helps you to stay focused on your long-term goals and avoid taking unnecessary risks.

4. Improve Risk-to-Reward Ratio

Risk management can also help you to improve your risk-to-reward ratio. This ratio compares the potential profit of a trade to the potential loss. By setting stop-loss orders and taking profits at predetermined levels, you can increase your potential profit while limiting your potential loss. This can lead to a better risk-to-reward ratio and ultimately, better trading results.

5. Enhance Trading Strategy

Risk management can also help you to enhance your trading strategy. By analysing your past trades and identifying your strengths and weaknesses, you can adjust your risk management strategy to better suit your trading style. This can help you to optimise your profits and minimise your losses.

RISK MANAGEMENT IS ESSENTIAL 

Risk management is an essential part of forex trading. It helps you to protect your trading capital, manage your emotions, increase consistency, improve your risk-to-reward ratio, and enhance your trading strategy. 

By implementing sound risk management practices, you can increase your chances of success in the forex market. Here are the key ways you can manage your risk when trading forex 

1. Set Stop Loss Orders

One of the most effective ways to reduce risk when day trading is to set stop loss orders. A stop loss order is an order to sell a security if it drops below a certain price. This can help limit losses and prevent you from holding onto a losing position for too long. Be sure to set your stop loss order at a level that makes sense for your trading strategy and risk tolerance.

2. Use Position Sizing

Another way to reduce risk when day trading is to use position sizing. Position sizing is the process of determining how many shares or contracts to trade based on the size of your trading account and the risk of the trade. By using position sizing, you can limit your exposure to any one trade and help prevent large losses.

3. Keep Your Trading Plan Simple

When it comes to day trading, simplicity is key. The more complex your trading plan is, the more room there is for error and the greater the risk of losses. Keep your trading plan simple and easy to follow. Focus on a few key indicators and trade setups that you understand well.

4. Don’t Overtrade

Overtrading can be a major risk when day trading. It’s important to stay disciplined and only take trades that meet your criteria. Avoid the temptation to take trades simply because you’re bored or want to make up for losses from earlier in the day. Overtrading can lead to increased risk and losses.

5. Manage Your Emotions

Day trading can be a high-pressure environment that can trigger a range of emotions. It’s important to manage your emotions and stay disciplined. Don’t let fear or greed cloud your judgment. Stick to your trading plan and stay focused on your goals.

6. Use Risk Management Tools

Finally, consider using risk management tools to help reduce risk when day trading. These can include tools like trailing stop orders, which allow you to lock in profits as a trade moves in your favour, or options strategies that can limit your risk on a trade. Be sure to research and understand these tools before using them in your trading.

Reducing risk when day trading requires discipline, planning, and a focus on risk management. By setting stop loss orders, using position sizing, keeping your trading plan simple, avoiding overtrading, managing your emotions, and using risk management tools, you can help protect yourself from losses and increase your chances of success in the markets.

Until next time, Happy Trading

Love from your Trading Mentor,

Trading Angel x 

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THE PRO’S AND CONS TO TRADING WITH A PROP FIRM 

AND HOW TO PICK THE RIGHT ONE FOR YOU

By Your Trading Mentor 

Trading Angel 

Those of you who have been following my trading journey for a while will know that I have recently started trading with a prop firm after years of resistance.  The reason for my initial resistance was the fact that I had heard about the strict rules and regulations which prop firms imposed such as minimum trading days and I felt like this was too restrictive for my style of trading at the time. I also had a small amount of money which I was happy and comfortable trading with and didn’t necessarily want to put any unnecessary stress on myself during my trading but worrying about trading someones else’s money. However recently (after several years of trading forex and working as a forex trading mentor) I decided for several reasons that having prop firm trading experience was the right move for me and my mentees. 

First of all, the traders who I mentor often come to me with the aspiration of trading with a prop firm and need coaching as to how to pass their funded trader program or how to hit the 10% target each month in order to withdraw their funds. So I felt that as my job as a trading mentor it was part of my duty to have first hand experience in this myself in order for me to appropriately coach my mentees in this form of trading. 

But also for myself and for my own personal trading journey I felt it was important tops myself out of my comfort zone and to gain that experience as well as to give myself the opportunity to scale up. 

So I have now taken on the challenge and signed up to the prop firm FTUK, I went with this prop firm because one of my mentees trades with them and thought they were pretty good and they also offer instant funding. However the right prop firm for you is a very personal choice so first of all I’m going to have a quick look at how to pick the right prop firm for you to trade with and then I will go into the pro’s and con’s of trading with a prop firm verses trading with your own money. 

If you’d like to sign up to FTUK you can use this link here:

http://ftuk.com/?ref=25988

Alternatively, Audacity Capital is also a popular prop firm, you can sign up to their programme here:

Funded Trader Program

WHAT IS A PROP FIRM?

A prop firm, short for proprietary trading firm, is an organisation that trades financial instruments with its own capital. Unlike traditional financial institutions, which trade on behalf of clients, prop firms use their own funds to speculate on various assets such as stocks, options, and futures.

Proprietary trading firms typically hire traders who have a proven track record of success in trading and provide them with access to the firm’s proprietary trading strategies, tools, and technology. Traders are given a share of the profits they generate, and the firm retains a portion of the profits as well.

One significant advantage of working for a prop firm is that traders can leverage the firm’s capital to magnify their profits. This increased buying power allows traders to take larger positions in the market, potentially leading to higher profits. Prop firms also provide traders with a supportive community of like-minded individuals who can share insights, strategies, and feedback.

However, prop firm trading is not without its risks. Traders must adhere to strict risk management protocols to avoid catastrophic losses that could harm the firm’s bottom line. Additionally, traders must be comfortable with the pressure of performing consistently to maintain their position within the firm.

In conclusion, prop trading firms offer traders an opportunity to trade with significant capital and access to advanced tools and strategies. However, traders must be prepared to manage risk and maintain consistent performance to succeed in this competitive and challenging field.

CHOOSING THE RIGHT PROP FIRM FOR YOU

Choosing the right prop trading firm is a critical step for traders looking to succeed in the industry. Here are some key factors to consider when picking a prop firm:

Firstly, consider the firm’s trading style and strategy. Some firms specialise in specific assets, such as stocks, options, or futures. Others may have a particular approach to trading, such as high-frequency trading or quantitative analysis. Look for a firm whose trading style aligns with your skills, experience, and preferences.

Secondly, assess the firm’s risk management protocols. Prop firms typically have strict risk management guidelines to protect their capital, which can limit a trader’s ability to take on large positions or engage in high-risk strategies. However, some firms may have more flexible risk management policies that allow traders to take on more risk. Make sure you understand the firm’s risk management procedures and ensure that they align with your risk tolerance.

Thirdly, evaluate the firm’s fees and commission structure. Prop firms typically take a share of the profits generated by traders as compensation. However, the percentage of profits taken by the firm can vary significantly between firms. Look for a firm with a fair and transparent fee structure that allows you to keep a significant portion of your profits.

Fourthly, consider the firm’s training and support resources. Prop firms typically provide traders with access to advanced trading tools, technology, and training programs. Look for a firm that offers comprehensive training and ongoing support to help you improve your trading skills and stay up-to-date with market developments.

Finally, evaluate the firm’s culture and community. Prop trading can be a high-pressure environment, and it’s important to find a firm with a supportive, collaborative culture. Look for a firm that values teamwork, encourages knowledge-sharing, and fosters a positive and inclusive community.

In conclusion, picking the right prop trading firm requires careful consideration of a range of factors, including the firm’s trading style and strategy, risk management protocols, fees and commission structure, training and support resources, and culture and community. By doing your research and evaluating these factors, you can find a prop firm that aligns with your trading goals, personality, and values, and increase your chances of success in the industry.

ADVANTAGES TO TRADING WITH A PROP FIRM

Trading with a prop firm, or proprietary trading firm, offers several advantages over trading independently.

Firstly, prop firms typically provide traders with access to significant capital, which can be used to take larger positions in the market and potentially generate higher profits. This increased buying power can also provide traders with greater flexibility in their trading strategies.

Secondly, prop firms offer traders access to advanced trading tools and technology. This includes sophisticated algorithms, real-time market data, and high-speed trading platforms. These resources can help traders make more informed trading decisions and execute trades more quickly and efficiently.

Thirdly, traders who work for prop firms are often part of a supportive community of like-minded individuals. This can provide traders with access to mentorship, feedback, and networking opportunities that can help them improve their trading skills and advance their careers.

Finally, working for a prop firm can be a lucrative career path for successful traders. Prop firms typically offer traders a share of the profits they generate, which can be significantly higher than what traders would earn on their own. Additionally, many prop firms offer performance-based bonuses and other incentives to reward their top traders.

In conclusion, trading with a prop firm offers several advantages over trading independently. Traders have access to significant capital, advanced trading tools and technology, a supportive community, and the potential for high earnings. However, traders should carefully evaluate any prop firm they are considering to ensure that it aligns with their goals, trading style, and risk tolerance.

DISADVANTAGES OF TRADING WITH A PROP FIRM

While prop trading firms offer many advantages over trading independently, there are also several disadvantages to consider.

Firstly, prop firms typically have strict risk management protocols in place to protect their capital. This means that traders may be limited in their ability to take on larger positions or engage in riskier trading strategies. While this can reduce the chances of significant losses, it can also limit the potential for high profits.

Secondly, prop firms often take a portion of the profits generated by traders. While this is a common practice in the industry, it can reduce the amount of money that traders ultimately earn. Additionally, some firms may have high fees or commissions that further reduce a trader’s profitability.

Thirdly, working for a prop firm can be a high-pressure environment. Traders are expected to perform consistently and meet profit targets to maintain their position within the firm. This can be stressful and may lead to burnout or a lack of work-life balance.

Finally, prop trading firms may have strict rules and regulations that limit a trader’s flexibility. For example, some firms may prohibit traders from trading certain assets or using particular strategies. This can limit a trader’s ability to pursue their preferred trading approach.

In conclusion, while prop trading firms offer many benefits, traders should consider the potential drawbacks before committing to this career path. Traders should carefully evaluate the fees, risk management protocols, and culture of any firm they are considering to ensure that it aligns with their goals and trading style.

HOW MY FIRST WEEK OF TRADING WITH A PROP FIRM WENT 

After all the time taken to make the decision to finally trade with a prop firm it was somewhat anti-climatical as the leverage was so much lower then I was used to and it meant the trade trades on the same lots sizes which I had previously been using were so small and worth hardly anything. What this made me realise is that once you sign up to prop firm it still takes a bit of time to get used the the new rules and regulations and also the different leverage. I spent a lot of time writing out a detailed trading plan for a new SMC trading strategy which I had been working on which focuses on the London and New York session open breakouts. The strategy works so well but in order to actually hit the 10% profit target which is required to [progress to the next stage of the prop firm challenge, I realise I’m going to have to put in a lot of time getting used to the appropriate lot sizes for the leverage and also so that I don’t go over the maximum draw down of 6%. So while I’m really excited about the time when I finally figure out the right lot sizes for the account and the leverage, I’m not quite there yet. The strategy work beautifully though its just a shame that every time I place a trade it only make me a few pounds. So this is a final note that I will add if you are thinking of trading with a prop firm, you will definitely want to have a really detailed trading plan which also looks at risk management and the Toal amount you are willing to risk per trade. At the moment my trading plan allow my to take on a maximum of 0.5% per trade.

If you’d like to see a full breakdown of how my first week of trading with a prop firm went as well as the details fo the trading strategy that I have been using then you can watch it here at Trading Angel’s YouTube channel. This video also shows you the exact amount which I made per trade 

Let me know if you have any experience on trading with a prop firm and feel free to share any prop firm tips and tricks. 

Until next time, Happy Trading

Love From Your Trading Mentor,

Trading Angel x 

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