Skillsfirst Level 3 Certificate in Introduction to Financial Trading (RQF) - UNIT 1: Principles of financial trading
Skillsfirst Level 3 Certificate in Introduction to Financial Trading (RQF) - UNIT 2: Principles of Financial Planning and Cash Flow in Financial Trading
Skillsfirst Level 3 Certificate in Introduction to Financial Trading (RQF) - UNIT 3: Understanding financial trading techniques

PROFIT & LOSS

P&L surprisingly is very underestimated by many traders, yet it will be one of the keys to your ultimate success if used properly, remember P&L is your livelihood when you are in the market.

If you approach trading with discipline instead of losing your head it would never happen.

Practise…

Sitting out of the market after a couple of bad trades and do some evaluation, before entering into any more trades. Sit back think about your trades and answer some simple questions.

  • Was I unlucky to lose on that trade?
  • Is my concentration on the trading?
  • Did I stick to my plan, or did I trade just for the sake of it?

If you can honestly say that you had a loser because you were unlucky then re-focus yourself on the market and trade again, if you find that you faced another loser then walk away from the screen and re-evaluate the events that caused loses. Remember you have simple solutions to help:

  • Cut your size
  • Take a break
  • Paper trade

All easier said than done but can save YOU money and get you focused.

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