V
Damilola
@victory
Last seen:
1 week ago
Channels of my spirit open up
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Price is making higher lows and pushing upward, with RSI around 50. Watching for a clean breakout and confirmation before going long.
Price made a strong upward move earlier.
It then pulled back from around 1.1379.
Current price is around 1.1357.
1.B — An order used to limit potential loss
2.A — A level where a trader exits to secure a planned profit
3.C — Risk-to-Reward
4.A — Prices are generally moving upward
4.B — Prices are generally moving downward
6.A — A tool that allows traders to control a larger position with less capital
7.A — An order to enter at the current available market price
8.A — When price takes out an area containing orders/liquidity before potentially reversing or continuing
9.A — An area where buying interest may help prevent price from falling further
10.A — An area where selling pressure may limit upward price movement
After 3 losses, I pause, review, reduce risk, and only resume when I’m confident I’m following my plan—not when I’m trying to recover losses.
1. What’s your #1 trade setup this week?
Answer: I’m watching for a breakout and retest setup. I want price to break a key level, retest it, and show confirmation before entering.
2. Biggest lesson from your last loss?
Answer: Don’t force a trade. If the setup isn’t there, stay out. A missed trade is better than a bad trade.
3. News that matters
Answer: I’m watching major economic data such as CPI or interest-rate decisions, because they can cause strong volatility and sudden price movements.
4. Risk check
Answer: I’m risking 1% per trade. I’m playing it safe and making sure one losing trade won’t significantly damage my account.
5. Psychology check-in
Answer: I’m focusing on following my plan and avoiding FOMO and revenge trading. If my setup isn’t there, I won’t enter.
6. Backtest challenge
Answer: I’ve been backtesting a break-and-retest strategy. The goal is to see how consistently it performs before risking real money.
7. Agree or disagree?
Answer: I agree. You don’t need many strategies. One strategy that you understand, have tested, and can execute consistently is better than constantly switching strategies.
8. Tool of the week
Answer: TradingView has helped me the most because I can analyze charts, mark key levels, identify structure, and backtest setups.
9. The hard question
Answer: I’m working on breaking the habit of overtrading. I want to take only quality setups instead of entering trades just because I’m watching the market.
10. Goals + Accountability
Answer: My goal this month is to follow my trading plan consistently and protect my capital. I’ll know I achieved it by tracking every trade and reviewing my results at the end of the month.
Given:
Risk = $30
Risk-to-reward = 1:2
A 1:2 ratio means your potential reward is 2 × your risk.
$30*2=$60
Answer: C. $60
1. Profit from 5 winning trades: 5*$40=$200
2. Loss from 3 losing trades:
3*$20=$60
3. Total result:
$200-$60=$140
Answer: B. +$140
Given:
Trading account = $1,000
Risk per trade = 2%
Convert 2% to a decimal: 2%=2/100=0.02
Now calculate: $1,000 * 0.02=$20
Answer: B. $20
So, you are risking $20 on each trade.
When to Sell
You reach your target: Sell to lock in profits once an investment hits your pre-determined price goal.
Fundamentals get worse: Offload the asset if the company's debt rises, revenue drops, or management fails.
Your goals change: Sell or rebalance your portfolio when your personal risk tolerance or life timeline shifts.
You need emergency cash: Liquidate holdings if you face an urgent financial need with no other backup funds.
When to Buy
Asset is undervalued: Look for low price-to-earnings ratios or strong fundamentals where the market price is below the true worth.
You have spare funds: Only invest money that you do not need for immediate emergencies or short-term expenses.
You have a long-term plan: Buying with a multi-year horizon helps you ride out short-term market drops.
Market is calm: Avoid buying during frantic market peaks when prices are artificially inflated
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