Can you keep your discipline for 2 weeks of trading? This is the PlayMaker Challenge
The best trading strategy in the world will not make you any money, if you don’t have the discipline to manage your capital, and your market risk.
When you work on a professional trading floor, you have a boss – someone who you must be accountable to at the end of every trading day.
As an individual trader, accountability can be replaced with complacency or even denial. Every trade is a learning opportunity, and if we don’t measure our discipline, we can’t improve quickly.
PlayMaker works on two simple principles:
1) Money Manage Every Day
2) Risk Manage Every Trade
Breaking it down, here is how it works in practice. At the start of every trading day, you commit to your daily guidelines:
- Maximum Daily Loss Limit
- Maximum number of open trades
Longest losing Streak before quitting for the day. PlayMaker tracks your limits in REAL-TIME alerting you when you are at risk of exceeding your own rules.
At the start of every trade you commit to your trade guidelines.You setup your Take Profit (optional) and most importantly your maximum allowed Stop Loss. Again in real-time PlayMaker shows you how well you are keeping to your risk management guidelines.
At any point in the day – track your overall discipline score. We want our traders to focus on their discipline rating, and not just on their P&L.
You lose discipline points for breaking a limit. You lose MORE discipline points for continuing to trade after a limit is broken.
PlayMaker gives clear warnings, and clear STOP TRADING alerts. If you are still tempted, it shows you the impact to your P&L. Knowing your habits is important, but there is nothing like putting a price on your habits to help focus the mind to improve.
PlayMaker shows where you are profitable – it holds up a mirror to your trading, and lets you reflect in REAL TIME on your mental state.
The PlayMaker Challenge – Can you keep your discipline for 2 weeks of trading.
This is a trading competition with a difference. Every day your days P&L can be adjusted DOWN by as much as 50% based on your discipline.
We want the highest P&L to win, but ONLY if its disciplined behaviour – where each competitor minimizes their risk of blowing up their account.
New Trading Competition starts 29 October
Sign for the PlayMaker Challenge Now
The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice. If such information is acted upon by you then this should be solely at your discretion and Valutrades will not be held accountable in any way.