October Pip Collectors Report

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Dear Traders

This has been such an interesting Trading month.

Firstly I want to congratulate Harold on achieving 5.72% on his prop account this month and scoring the winner of the month position, closely followed by Vijay at 5.17% and Faraz at 3.29%.

Considering that it was a tough trading month, we are very proud of all our graduates who have ended the month profitably and are collecting payments.

Here is an assignment I am including for everyone to progress in your trading plan.  Please set up your entry and exit criteria by answering the following questions:

  1. Do I trade with the Trend only? If yes is it daily, weekly or hourly etc.
  2. What is my definition of a trend?
  3. What time frames do I use?
  4. Is my analysis purely mechanical?
  5. How familiar am I now with my bar formations e.g., swing highs/ lows etc.?
  6. What supporting indicators do I use to support the bar formation signals? E.g. Fibs, Moving averages etc.
  7. What is my stop loss set up? E.g. below the daily chart support, Below lowest low of either bar of train tracks minus 5 pips
  8. Am I crystal clear about my entry / exit criteria?
  9. Do I have a weekly / monthly/ quarterly goal for my trading?
  10. On a scale of 1-10 am I in a state to trade today? 10 being 100% yes and 1 being shut off the pc and don’t trade at all…

 

Think of these questions and prepare yourself fully in order to achieve a successful November’s trading.

 

To your prosperity,

Saira

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