Developing the right psychology for trading “trader’s mindset” is the most difficult thing to accomplish, and I find it interesting that most people always mention the math required. These days with computers and software, there are so many indicators and statistics that can be measured and analyzed, that no wonder most traders become paralyzed.
Open up any trading platform or do a search for trading statistics and you are instantly confronted with tons and tons of tools being touted as the next best thing or an absolute must for any trading strategy. This is surely overwhelming to the beginner, and can lead down a very deep rabbit hole for the “I need to know them all enthusiast”.
The good news is that our goal as traders is not to learn every indicator or statistic out there, but simply to be profitable. Become a specialist and use what is necessary very well and you will be greatly rewarded.
Any indicator, especially those which have stood up to the test of time, will serve you well once you have thoroughly tested them and understand their function and limitation in your specific application.
Reviewing your backtesting and trading results is what will give you confidence in your trading plan. If you find yourself stressed by 1 loss, then you really need to determine whether trading is for you. Statistics will show you what to expect from your results.
10 losses in a row? No problem, it happens once a year.
In a drawdown for 3 months? Not unusual at all.
We use several different stats to measure performance, such as win rate, risk/reward ratio, expectancy, profit factor etc. The important thing to note is many of them work together, and they should simply measure your trading results. Your trading plan should not be structured to fit any particular stat. The Red Team is applying math on and off the charts with the EWPT Strategy.
Team Red: EWPT Strategy
Team Red is swing trading the Forex markets. They are taking trades based on Elliott waves and major price patterns.
Ralph Nelson Elliott discovered the underlying social principles and developed the analytical tools showing how price unfolds in specific patterns called Elliott waves. These patterns reflect the Fibonacci sequence of numbers (1,1,2,3,5,8,13,21,34, etc) which can be seen in many natural processes of growth and decay, expansion and contraction, progress and regress.
Robert Prechter has advanced his work in not only the Elliott Wave theory, but its application outside the financial markets. It is truly the mathematics of sociology.
The EWPT strategy is a complete trading plan which focuses on taking trades in the 3, 5 and C waves, and uses Fibonacci extensively to analyze these cycles.
What all is included in the plan?
There are 5 major parts to the plan:
- Identify and analyze opportunities: This is done by analyzing price and trends.
- Entry: Signals are taken at specific places of the trend.
- Exits: These are predetermined and preset for when you are right or wrong. You will have losing trades with this strategy.
- Risk Management: This determines our overall risk and per trade risk.
- Money Management: This will guide you in growing your capital and keep you from blowing up your account.
As a member of Team Red, you will learn all the details of the strategy and begin your training. Only by successfully completing it will you be allowed into the trading room where traders are implementing the EWPT Strategy live.
Accountability is the key when working with other traders and through our review process you will develop the skills to be profitable.
Of course there is no guarantee that your results will be the same or results will continue like this as no one knows the future. However, if you don’t have the discipline to follow the plan, we promise that your results will be far worse than these.
Drawdowns can and will happen with any strategy, and the EWPT Strategy is no different.
We are currently running a spring discount for those who want to get started now. By registering for a Yearly Membership during the month of April you will be able to join a Crush Pro Team of your choice for free. That’s over 50% off to get started.
To join click (here)
Scroll down and click sign up now under the Yearly Membership.
OR you can register as a free member and be eligible for our spring drawing where someone will be selected to join a Crush Pro Team of your choice for free along with 3 months free membership.
You must register by April 13th to be eligible.
To register click (here)