📈 From Losses to Wins: Simple Tips to Reduce Trading Drawdowns 💡

[@ukspreadbetting]

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[@sakha5960]

I believe that a well-tested and optimized playbook with 200-500+ trades eliminates the need to focus on minor adjustments like entering a few ticks earlier or later. These tweaks have minimal impact on results, especially in fast-moving markets, and are more relevant for those without a proven strategy. Instead, focus on scaling in and out to manage drawdowns effectively.

[@AM2K2]

Mark has been in the game for over 20 years...how long have you been at it? I suspect you aren't even profitable.

[@atom_rr]

I used to go all-in on every single trade, since I have a day job and can't monitor multiple trades at the same time, but losses were bigger when the trade went against me, obviously. So I've just started days ago to scale in and out, that's a very good point you mentioned here. How do you manage your scaling in/out ?

[@sakha5960]

@@AM2K2 That’s why I respect and follow Mark - he’s been in the game for a long time. However, that doesn’t mean I can’t share my thoughts on what he says. I’ve been in the financial markets long enough to know that the only thing that truly matters is the data you get from your strategies. Over the years, analyzing data from different strategies, I’ve specifically found that scaling in and out can work much better for managing drawdowns effectively.

[@sakha5960]

@@atom_rr Hi, I can’t comment on how you should manage scaling in or out since I don’t know your strategy. However, here’s what I do: I use second confirmations to scale in and Fibonacci levels (61, 100, 161) to scale out.

[@Matt04108]

I have found that I can minimize drawdown significantly by using fast momentum trades on low timeframes (I trade off 15 second chart). It allows high risk reward trades. If momentum continues, you can get a big trade that pays off quickly, if the momentum fades and reverses, you take a small loss.

[@raywest3834]

This is silly. If you move your stop closer, you will get stopped out more often, even if you got the direction right.

[@gukri17]

I think the thought process was its better to miss a long position because market it didn't go that low, than enter far higher and risk more. If you get filled in lower, your RR is much higher. If you don't filled in, well, there will be a next opportunity. Always. Patience is king.

[@Haseeb-Abbasi]

Nice information

[@Plumbermark]

May sound all very sensible and nice, however I have found that when you make all these adjustments the market inexplicably moves in a way that somehow sabotages your new plan ...It's almost as though it's watching, the best way to trade is without stops but enter only when all the conditions are ripe and screaming at you trade trade trade ! I do not use stops because I'm confident in my trade, sometimes it goes 200 points against me but then turns and goes the correct way as predicted......Stops are there to be hit and feed the brokers....It's death by a thousand cuts.

[@boris9047]

If the price first goes 200 pips against you and then goes your way it's gambling, not prediction...

[@TheEarlVix]

Hi Mark, I've followed your channel for quite sometime now and just chiming in to say how much I enjoy your content. Regarding Pepperstone do you use or recommend them specifically for spread betting? From what I can make out spread betting has tax advantages for UK traders though happens to be illegal in the USA. I would like to know if Pepperstone support spread betting for Australian traders as possibly although not popular in Australia the tax treatment thereof is similar in Australia. Thanks for any pointers.

[@ukspreadbetting]

Pepperstone are a trusted partner. Spread betting is mainly for UK residents; it doesn't have tax advantages if you're based outside the UK. If you're an Australian the equivalent are CFDs which Pepperstone also offers. CFD gains are taxable but you can also offset losses so its not bad at all.

[@TheEarlVix]

@@ukspreadbetting Thank you. I will consult with the Australian Taxation Office too but suspect you are right. I guess if one really did have an edge at a licensed casino though then they'ld make you pay tax on your nett winnings. ie. Change the rules to suit.

[@AM2K2]

Cheers