Improve Your Trading Odds - Aim Lower

One of the simplest ways to improve your odds as a trader is to get less greedy. Leave more potential money on the table and satisfy yourself with a smaller profit after each trade. After a bad run of trades in ranging market conditions, I've switched to a take-profit strategy that aims for just 33% of the previous day's trading range. It's far more likely to make money off of a whipsaw than my previous approach, and in combination with my signal flipper I have high hopes it'll improve my profitability and trading consistency over time. I can't exaggerate how much a run of bad trades can affect your confidence - but fortunately adjusting your goals and strategies, and seeing them work, can really help bring it back!