Mamie Conrad answered the question Can you provide information about your most successful trade, including the strategies you employed to achieve it? Which asset?

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Mamie Conrad

From $6k to $1.2m in 8 years of swing trading (former Day Trader)

Thoughts

Risk management should be your top priority, no more than 2% risk of your account.

Trading is simply all about probability and risk management. Don't risk $2 to make $1

The only way to find an edge is through experiments. You won't be able to replicate the same exact strategy of other traders. Find your own edge.

Technical Analysis does work. It's simply a reflection of overall market and human emotion. Technical Analysis + Good Fundamental Catalyst = High Probability.

The biggest problem you'll face is your own emotion

Day Trading is way stressful than Swing Trading. But knowing how to Day Trade then move to Swing Trading helps a lot.

Last updated: 10/25/2023 07:18

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kingul9op

I have been in the foreign exchange market for 5 years. The most profitable time so far was US$800 in a single transaction. There is no special trading strategy. Just keep up with important current events. Such as economic data, government policies, international situations, etc. The impact of these factors on the foreign exchange market is obvious. Traders can make more accurate buying and selling decisions by promptly understanding and following up on major situations, combined with technical analysis, and adjust strategies in a timely manner.

Then there is the strict implementation of stop loss and take profit rules, because this can effectively avoid blind trading and emotional decision-making, thereby reducing the probability of loss. At the same time, during the process of stop loss and take profit, you should pay attention to the stability of the strategy and record various details for future reference.

Last updated: 10/25/2023 09:23