Using the Prep Method to Trade.
http://www.financial-spread-betting.com/course/technical-analysis.html PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! The Prep Method is a way of assessing your trade before you get into it.
P - Profit target; work back from there.
R - Risk; where's the risk (including any hidden risks). This is the biggest component of the deal. Where you going to place your stop? You don't really want a 1:1 proposition.
E - Exit; where will you exit if your trade goes the wrong way.
P - Patience and understanding each outcome. Having on your mind the different scenarios that could happen will help you sit on your hands.
Related Videos
Have a Trading Plan When Starting Out! 🤛
https://www.youtube.com/watch?v=GT_FrSCccEwQuick Beginner's Guide to Creating a Trading Plan 👍
https://www.youtube.com/watch?v=asaM473vw3wNew Year, New Trader, Your New Beginning! 🌈
https://www.youtube.com/watch?v=Qs206c9iThoPREP Method: Profit Target, Risk, Exit and Patience 👍
https://www.youtube.com/watch?v=iGEB-TSRcvM5 Reasons Why Trading Plans Fail! 😐
https://www.youtube.com/watch?v=vsFSjrQHX_sHow to Develop a Trading Plan - Goals: Part 1 👍
https://www.youtube.com/watch?v=76Qtm0RKMc4Creating your Trading Business Plan: Part 2 👍
https://www.youtube.com/watch?v=MdPIpecZmcYTrading Plan: The What (Markets), When (Times) and How (Strategy): Part 3 👌
https://www.youtube.com/watch?v=pFydBajqCzsTrading Plan & Checklist: Limiting Risk - Per Trade Risk, Daily Risk and Limit Risk: Part 4 👌
https://www.youtube.com/watch?v=UmproIZYXeM### Developing Patience and Knowing when to Trade ###
Part 1 - Tips on How to Develop Patience and Trading Discipline:
https://www.youtube.com/watch?v=biBvOdzOp1EPart 2 - What is your Winning Edge (Advantage) when Trading?
https://www.youtube.com/watch?v=WlI1GnzSi48Part 3 - Trade when the Market isn't Random: Understanding Crowd Psychology
https://www.youtube.com/watch?v=mFhcxsKF6AAPart 4 - Profiting From Panic Selling: Buy Fear, Sell Greed
https://www.youtube.com/watch?v=9ff-fnvGGOsPart 5 - Trading with an Edge: How To Trade And be a Winner
https://www.youtube.com/watch?v=oogb4zE8k1kPart 6 - Developing Patience and Knowing When to Trade
https://www.youtube.com/watch?v=gTAQRSFru4UAbout the Site 🌐
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