Hey Trader,

Here’s a list of 5 steps you can implement to your strategy to boost your profit:

1) Write down your struggles and frustrations.

Yes, right now. Make a list of the parts of trading that are tough right now: What has caused the past few losses? Where is your method going wrong?

Once you make your list, share it. Because likely, I, and other folks here have stood where you stand and might be able to help.

And when all your trading struggles are written down, you can tackle them one at a time.

2) Ask questions.

I always say, there are no stupid questions. Only stupid people who don’t ask questions.

Of course, I know you aren’t stupid. You’re here, and that proves you want to learn and are willing to find out what you don’t already know about trading.

If you have a question, reach out – either to me, to the community, heck, even Google knows a thing or two. 

The more you recognize the things you aren’t sure about and ask for help, the faster you can learn.

3) Re-evaluate your risk management.

All traders can lessen their trading risk. 

Are you betting too big? Are you diving into trades you don’t fully understand?

Do you need to add mental stops or be more active with stop-loss orders?

Take a step back, and evaluate.

Assess your risk management strategy every few months to make sure your method is working well for you.

4) Utilize every loss as a win.

If you miss on a trade – it’s important to learn from it.

Every loss is the price you pay to learn not to make the same mistake again.

Sometimes traders get frustrated and try get-back trades… but that’s one way to let your emotions dictate your trades (rather than fundamentals) and can lead to further losses.

It’s better after each loss, to pinpoint where you went wrong and adjust your strategy.

If you find yourself making the same kinds of mistakes over and over, add that mistake to the list you made at the top and work to fix it. 

5) Make a plan and stick to it.

As you recognize your trading habits and make your list of ways to improve, write down the small adjustments you make, and then stick to your new plan.

It’s important that you track your trades and your progress — so keep a log if you aren’t already.

You may also want to keep a journal that tracks your trading habits –- how long you spent watching indicators each day, which you use, and any new methods you’ve put into place.

It’s important to document the changes you make so you can track what actually works best for you.

You can take these 5 actions in any order. If you’ve read this far, leave a comment to ask any questions you have OR answer: Which of these 5 will you do first?

6) BONUS: If you are just starting out, paper trade.

I will recommend this to every new trader until the end of my trading career.

If you set up a paper account with your broker, you can practice opening and closing trades without having to risk a dime.

This will allow you to get comfortable with the habit and become familiar with your trading platform.

You definitely don’t want to put your hard-earned cash on the line if you aren’t sure what to do. 

So sticking with a paper account can give you plenty of practice until you are ready for your first real trade.

Your only option,

Mark Sebastian