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Javid Shaik has been trading since 2002, specialising in the Forex market but with considerable experience trading stocks & shares, indices and commodities on a number of platforms. Born in London, Javid has always been an independent thinker which, coupled with a background in IT, has fuelled... More
My company:
Dynamic Trader
My blog:
The Dynamic Traders
  • High Probability Trading 0 comments
    Jul 8, 2010 4:02 AM

    Morning traders,

    Each time we open a position, we ensure we have a high probability trade.

    Regardless of the outcome, as long as the trade had a high probability attached to it prior to pulling the trigger then we can consider it a good trade.

    Let me elaborate on this point. Each trade we open has an obvious risk attached to it. What we attempt to achieve before triggering the trade is to stack the odds in our favour and so minimize the risk. If we have managed to accomplish this with our confluence of events then we are trading with an edge. From the moment the trade is open, we have to accept we no longer have control of the outcome. The only thing to do now is manage the trade according to our trading plan and trading strategy.

    As I say to all the traders who have been through our Forex Apprenticeship or mentoring, the less you do the more you earn. Most traders tamper with their trades and if they had just let the trades run then most times they actually would have found they earnt a reasonable profit.

    Our strategies used by the dynamic traders is to first find high probability set ups, enter the trade and then let the profits run.

    You can read more on our trading blog.

    Javid Shaik

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