Count The Cost Before You Trade

And if you think about it, that applies to you and me, too.
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Before you even think about clicking that buy or sell button this week… have you counted the ‘cost’?
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Do you know where your stop is?
Do you know your size?
Do you know what happens if news hits the wires whilst you’re in a trade?
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The traders who get stung this week won’t necessarily be the ones who get the direction wrong…
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It’ll be the ones who didn’t have a plan, sized too big, saw a candle move and just… dived in like a punter. Didn’t count the cost…
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This market is punishing those types of traders, over and over…
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Remember this:
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​You don’t need to catch the whole move.
You don’t need to nail the top or the bottom.
You don’t get paid to be a hero.
Your bank manager doesn’t demand that deposits only come from the most volatile days…
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​You just need a chunk.
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Play the highest probability move, wait for your setup, and take your slice. That’s it.
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So this week, remember old old buddy Sun Tzu before you trade…
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Count the cost before you fight. And if the cost is too high… sit it out. That’s a valid trade too.