To succeed for SPY/SPX in 5 steps

Michael Esther
06-21

Trading is not a get rich scheme. Here’s what you need to do to succeed for $S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$ in 5 steps:

1. Pick a set-up you like and test it so you are confident it works for the next 100 trades.

2. Figure out what position size you need to take and where the stop losses should be to control risk. It should maximize your confidence level when you enter at the right time.

3. Review your trades often to fix small mistakes and to gain confidence once you enter a trade.

4. Surround yourself with strong traders and have mentors to help you fix your trading system and bad habits.

5. Work on emotional control by writing down what you feel so you can fix your bad behaviour.

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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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