Futures Trading Strategy - 5 Ways to Grow Your Profits
Today I’ve got 5 ways you can grow your profits and make more money in your trading - in a business-smart fashion.
1. Benchmark your current system to realize its full profit-potential.
2. Increase your system’s potential through proper optimization.
Make calculated and measured improvements to your current system through proper optimization. In order to do this, you have to have a way of analyzing the affect of ‘tweaks’ and changes you make, preferably without simply going live with real money.
Proper optimization can increase your profits and also reduce your losses, as well as improve your other metrics such as the winning percentage, profit-to-loss ratio, and average profit-per-trade.
3. Measure your progress for continuous improvement.
Track your metrics to improve your consistency and ensure that you’re always making progress toward your goals. Without tracking your numbers, identifying your opportunities for improvement can be very difficult, plus knowing your consistency is nearly impossible.
4. Prepare for changing market moods and climates.
5. Broaden your ability to capture profits.
Once you’ve acquired the ability to analyze a system, you can then look to develop strategies that allow you to capture profits in times when your current system has you sitting on the sidelines.
Being business-smart
Understand, I’m NOT suggesting that you just go trying different things to make more money ‘chasing profits’ on a trial-and-error basis.
What I am sharing with you here are ways to make more money in your trading, but to pursue them in a business-smart, calculated and measured fashion.
One of your most important ‘jobs’ as a trader is that of Trading System Analyst - so that you know in hard numbers what you’re working with at all times during your daily trading, and also so that you can properly prepare for tomorrow.
You have to know that your system is the best to be working with on any given day, and preferably with proof through analysis and metrics.
Cheers
Brian
P.S. If the above ways to grow your profits appeal to you and you need a way to analyze, measure and track as you go, then check out the Trading Performance Analyzer & Profit-Potential Calculator.
http://insideouttrading.com/tpa/
It was created specifically to help you grow your trading business in a wise and prudent manner - and to help you keep the emotions out of your trading.
It is also a terrific way to boost your confidence and solidify your discipline - through having solid and in-depth information about your system and your trading.
P.P.S. New version with updates just released! There have been updates to the Trading Performance Analyzer that make it even more powerful than before to help you trade more profitably. Check it out now!
http://insideouttrading.com/tpa/
Trading Psychology: The Most Important ‘Hat’ You Wear As A Trader
As an individual trader, you’re wearing all the hats in your trading business (7 of them at least) and this one is probably the most important of them all.
Get the right tool for the job, plus some training to go with it!
Cheers
Brian
Do you KNOW the Profit-Potential of Your Trading System?
 |
| Hi mememe,
Do you know the profit-potential of your trading system - to the dollar? If the desire for freedom is the real reason that you’re trading, then one of the first critical steps to realizing that freedom is to know the profit-potential for your trading business. If you want your trading business to provide financial freedom and security, you MUST know that it has the potential to do so. No system can generate unlimited profits with a finite trading account, so it follows that every system has a limit to how much it can produce. That limit is the upper-limit of what it can make, and thus it’s potential when traded well. Now if you don’t know what that limit is, what its potential is, then you’re simply ‘hoping’ that it is capable of generating the level of income that you seek. Hoping is no way to have real freedom. Hope is NOT what you want to base your business on. Hope and security just don’t go together in financial matters. Either you KNOW and can have confidence in the ability of your business to set you free, or you don’t and that lack of certainty will haunt you until you do know. So… CAN you put a dollar figure to the profit-potential of your trading system? Even if you follow your system and rules to the letter, is it capable of consistently generating the reliable income that you need to have the freedom you want? To make calculating the profit-potential of your system easy, go here: Trading System Profit-Potential Calculator Without knowing what the profit-potential of your trading business is, a level of certainty about what your trading is truly capable of, you’re going on hope. Trading on hope from vague expections is one of the primary contributors to a whole host of emotions interfering with good trading. Address many of the emotions by knowing your system’s profit-potential and other critical metrics! Trading System Profit-Potential Calculator I’m here to help you realize your freedom. Cheers Brian |
Trading Psychology: What It’s Like…
Rather than tell you myself, I thought I’d share this message that I received yesterday.
“Brian
I’d always wanted to see how consistent I was each month but before using the Trading Performance Analyzer I had no idea how one month compared to another. Now I can see my results from month to month.
I had a month that was lower than expected so I was able to go back through my trading journal and review my trades. I found some mistakes I had made and was able to correct them. Every month since then has been consistently where I want it.
With the TPA I’m able to see my results and it helps to keep me on track. I like being able to easily see my P/L ratio, winning trades % and the number of trades which has kept me from over trading. And being able to see my risk/reward ratio has really helped me improve in that area.
I was testing three systems but really had no idea how they were performing. The backtesting feature made this easy to see. Two systems did not perform well and had too much of a drawdown even when following my strict money management rules. The third showed good results and I’ve been very profitable with it for the past six months.
Using the TPA has given me the confidence to stick with my system. Now I can see all of my results and as long as I stick to my rules I now know I can stay consistently profitable.”
Matt Anderson
Cape Coral, FL
You can experience this too.
Get the Trading Performance Analyzer right now!
Cheers
Brian
P.S. Version 7.6 has just been released with new features. Still user-friendly and complete.
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