You can thank me later 🫡
Step 1. Create a demo account with 1 month's equivalent to your current monthly income. You make $5,000 a month? Great, set your demo account at 5,000.
Step 2. Use price action to find repeatable patterns in the market for your trades. The market moves in cyclical patterns. Learn to identify these.
Step 3. Using technical analysis, find your entry point, your stop-loss, and your take profit. Do NOT change your strategy during this phase.
Step 4. Risk only 1% of your capital on any given trade. Your account was $5,000? Perfect, you're risking $50. Nothing more, nothing less.
Step 5. Repeat this process 50 times to see if your strategy works. Remember, do NOT change your strategy during this period. You want to be as mechanical as possible. If you're not profitable, go back to Step 2 and refine your strategy.