Breakout Wizard

1. Give up emotional engagement with every tick of the price movement of your trade.  2. Give up your own opinions. 3. Stop watching price 2-3 times a day. 4. Stop being emotional after every losing trades. 5. Stop making expectation of profit in every trade. 6. Stop entering trades based on hope and fear. 7. Stop trying to predict the future price movement and start trading the present moment price. 8. Stop trading until you find good Risk-Reward set up for your trading. 9. Stop confusing yourself with so many methods and start choosing one that fits your personality. 10. Stop breaking your trading rules. Discipline is an edge in trading. 11. Stop expecting getting rich quickly, start building wealth through compounding annual returns. 

Let's say, you bought a stock and your initial risk on the trade is just 1R.  So the R represent the dollar or rupee amount that you risk on each trade.  After you enter the trade, if the stock moves 3R from your entry price.  You should always book 70-80% profits at your target level. And let the remaining profits run with Trailing stop loss. Because you don't know when price might reverse and take back your open profits. There are many strategy used by Professional trader for trailing stop loss: MA based trailing stop loss, Previous pivot high & low, ATR Trailing Stop Loss, Percentage trailing stop loss. Never let your trading profits turn into a loss. However, strict adherence to this rule is vital for three reasons. The first reason is that it will boost your confidence and the second reason is that the account will grow consistently. And the third reason is that your remaining profits will grow bigger with Trailing stop loss. So R multiple represent the dollar o...