Show notes
Tracy-Lynn Ball is a profitable, full-time day and swing trader who has dedicated herself to being a life-long learner. She has developed a love for trading and teaching others how to trade. Tracy-Lynn uses her gift of effective communication to co-host two podcasts and has found success as a Master Mentor at Real Life Trading. Recently, she was a guest speaker on a private island for millionaire traders! In this episode of How To Trade It, Tracy-Lynn discusses the intentionality behind her back trading efforts. You don’t want to miss it!Subscribe to How To Trade ItYou’ll want to hear this episode if you are interested in…[05:28] How to keep going when you want to quit[09:05] Appropriate expectations[11:56] Understanding the “R”[17:10] Back trading ins and outs[24:57] Price patterns[27:20] Identifying support and resistance levelsKeep going!When an unexpected medical issue imposed a forced sedentary lifestyle on Tracy-Lynn, she made the best of the situation by turning her efforts to trading. When things were really difficult, it was the absence of something else to go to that kept her moving forward. Her “this-must-work” attitude served her well and has allowed her great success now. Understanding “R” R stands for risk unit. It is the difference between your entry and your stop. Essentially, your “R” is the maximum amount that you are willing to risk on a trade or the amount you would lose if your stop gets triggered. Tracy-Lynn typically has an R that is 0.5% of her account. She encourages students to never risk more than 2% of their account. Tracy-Lynn readjusts this number every three to six months, depending on performance, and she doubles it, every time she doubles her portfolio.Back trading recapThe whole purpose of back trading is to get numbers that will a Grab your copy of the Complete Trading System This book teaches you how to build a trading system from the ground up and how to become profitable in the markets. Talking Trading - Expert trading tactics so you can excel in the sharemarket.This is how traders and investors excel.Listen on: Apple Podcasts SpotifySupport the Show.Connect with Casey: Website: https://caseystubbs.com YouTube: https://www.youtube.com/TradingStrategyGuides YouTube: https://www.youtube.com/caseystubbs Facebook: https://www.facebook.com/TradingStrategy LinkedIn: https://www.linkedin.com/in/caseystubbs Twitter: https://twitter.com/caseystubbs TradingStrategyGuides.com: https://www.tradingstrategyguides.com/ Global Prop Trader: https://globalproptrader.com/ Email: [email protected]