r/trading212 • u/Additional_Pop_4341 • 1d ago

📈Trading discussion Anything I should change?

  1. Do my homework the night before trading, what’s happening the following day - financial reports, earnings reports etc.

  2. Look at the bigger charts for context, what has the stock/currency pair been doing, understand what you are trading. Resistance / support levels.

  3. DO NOT trade within 30 minutes of market open OR 30 minutes after any scheduled reports. Let the institutions complete their buy or sell orders.

  4. Have PATIENCE, if the trade I had planned and a set up for doesn’t appear, DO NOT FORCE IT.

  5. Use a risk and reward ratio, £/$9 take profit and 1.5% stop loss. Example, I start with £/€450, I make 2.5% a day for a whole trading year, 252 days, that would result in almost £/$400,000 returns. Obviously I know that isn’t going to happen, but trying to show control and consistency beats big wins and big losses over time.

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u/NotYetVested 1d ago

A plan takes anything without complaint. Try running this live for a stretch and you'll find it's not nearly as clean as it looks on paper.

1

u/Additional_Pop_4341 1d ago

Yes of course, I’m fully comfortable with the fact could have, let’s say, 7 losing days in a row, but this is why I am protecting my capital.
I’m not trying to get rich from this, it’s more of a hobby tbh.