Becoming an aggressive trader requires careful strategy and strong self-control. Nick Shawn, a trader who has successfully navigated the markets, discovered his best trading style through experimentation and perseverance. He relies on Price Action and Divergence analysis to make decisions and has achieved significant success. Here are some lessons to be learned from Nick Shawn's experience:
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1. Focus on Multi Time Frame Technical Analysis
- • Nick prefers to focus on technical analysis, especially Price Action and Divergence.
- • He uses the H4 and D1 time frames for trend confirmation, focusing on daily levels that often serve as market references.
2. Understanding Risk and Reward
- • Nick uses a Risk/Reward ratio of 1:3, where he aims for profits of 100-300 pips per trade.
- • He separates trading accounts based on the strategies used, allowing for better risk management.
3. Disciplined Risk Management
- • Despite being an aggressive trader, Nick prioritizes good risk management.
- • He emphasizes the importance of keeping emotions in check by simplifying trading strategies and adhering to established risk management rules.
4. Choice of Trading Instruments
- • Nick trades major currency pairs and also the gold pair (XAU/USD), with an average of trading gold only once a week.
- • By leveraging high volatility, trading XAU/USD provides enticing profit potential.
5. Consistency and Discipline
- • Despite the high-risk nature of his trading strategy, Nick remains consistent and disciplined in executing his trading plan.
- • He doesn't overly concern himself with the Winning Ratio but rather focuses on risk management and overall profitability.
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With a measured approach, proper technical analysis usage, and good risk management, Nick Shawn has proven that being an aggressive trader is not impossible. His success offers valuable lessons about the importance of patience, discipline, and perseverance in the forex trading world.
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