How to add probability to trading?

General
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how to add probability to trading?

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What do you mean?

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it is said that trading is a game of probability… higher the probability better our chances. basically i want to know how can a trader stack odds in his favour.

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Confluence of supporting factors.
Read articles like these. Technical analysis is nothing but confluence.
https://www.dailyfx.com/forex/education/trading_tips/daily_trading_lesson/2014/05/15/The-power-of-confluence.html

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Along with Pivot Level confluences ( I :hearts: Camarilla ), keep an eye on Previous Day, Week, Month OHLC.

Use Volume Profile to gauge price value… ( read Anna Coulling - A Complete Guide To Volume Price Analysis )

Use Fibonacci Fans to draw trendlines, ( read Michael Jardine - New Frontiers in Fibonacci Trading )

Follow strict Money Management rules - 1:2 / 1:3.

In one line I can say, higher your patience, higher would be the probability.

Oh ! And get good sleep … :grinning:

Cheers!

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Sir,
Can u elaborate what does “Follow strict Money Managament rules - 1:2 / 1:3.” mean?

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Even if I elaborate it, your understanding of this concept will be unique to yourself, thus my explanation will not change your perception. You yourself have to toil and engrave it in your blood, such that, it becomes a basic instinct for you. This concept is above any skill, it is the crux that an aspirant trader must pose as a habit.

There is no shortcut. ***DO NOT TRADE UNTIL YOU FIND THE MEANING OF THIS YOURSELF ***

This concept will solely determine your PnL in Trading or Investing ( probably most of the time in life also ).

If you are really serious, I can tell you what you need in order to understand it.

  1. Knowledge of Class VIII mathematics;
  2. Extensive Google search ( DEVOUR THE INTERNET );
  3. Read on Money Management [ (i) Bennett A. McDowell - A Trader′s Money Management System (ii) Bennett A. McDowell, Toni Turner - Survival Guide for Traders ];
  4. Read on Human Psychology or Behavior from “The Angle of Economics” ( Exotic Preferences: Behavioral Economics and Human Motivation by George Loewenstein ).

If you do these 4 things, you will understand it automatically, and, your own understanding will be thousand times better than someone else’s elaboration from a public forum.

Rest is all up to you!

All the very best!

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Thanks for your guidance.