How To Trade The Right Way In 2023

Welcome To The WOTT Blog!

In this section you'll discover what it is (if you haven't seen it already on my videos) how to trade correctly in 2023.

This involves everything from Technical / Fundamental / Psychology aspects and having a full plan. There are some aspects of Trading which do and probably never will change. These correlate to risk management and Price Action rules, which have always be at the core of any Traders outlook on any Markets. Mainly in this blog, we will focus on the aspects of Trading which can't be ignored (if you want it to be long term):

• Price Action Rules
• Risk Management / Capital / Drawdown Rules
• Market Sentiment Tracking Rules

Get these parts right and you will find your accuracy increase enormously regardless of what you are Trading. This is because they work together to form a reliable basis for trading assumptions based on previous market moves; after all that is just what Trading is all about. Look to the past to infer future moves, it's the only thing that is naturally occurring cyclically and can be used repeatedly.

Price Action; This is going to be at the forefront of any successful Traders Vocabulary / toolkit. That's because without it you are looking at price points blindly. Key price points that offer market value and better deals are often shown clearly on charts in various different ways, it's just to the untrained eye they are not clear at all and often newbie Traders literally just can't see them. It takes time, but once mastered it's very much clear!

Risk Management; This means at any time knowing how large your trade size will be in either USD / Preferred currency or most often trade lots. You simply cannot trade too large for any different Trading situation. Trading is only long term when it does not involve 'one off' trades that get you a large gain. Mostly, it's going to be made of many trades to fit the natural variance of the markets and the fact that they can swing. Within this, at WOTT Academy, we focus on hedging methods and other ways to mitigate loss, including DCA and lowering size when the market presents higher risk.

Market Sentiment Tracking Rules; This relates to the way market news affects the overall mood of markets and how fast they move at any time. You need to be inline with this if you intend to control risk accurately in times of both slow and fast moving markets. This is normally dependant on how prolific the news is, e.g. sharp move from increased risk sentiment in a fast unexpected change in the overall market mood or market outlook.

So all in all, you need to be able to identify areas where buyers and sellers are moving into the market. Along with this you'll need to stay completely in control of your account equity and manage your drawdown as it grows and lowers so you can keep an edge. Including sentiment tracking rules within this allows you to stay inline again risk wise and direction wise pre move and post move.

You can get all of this inside WOTT Trading Academy, so get on board today!

Will S

WOTT Trading Academy