what is going on YouTube my name is Sangev and today I'm going to be showcasing to you guys five ways to instantly increase profitability in forex and cryptocurrency day trading let's get right with it so coming in at number one is having a plan please stating what time you're gonna be trading let's say when market opens for New York London whatever it is or when market closes and for example setting how many times a day you're gonna be trading instead of just doing so much in over trading and possibly losing profits this is the best way to limit yourself especially if you're in the gains or if in the losses so you can protect your profits because at the end of the day protecting your profits is very very important you always want to protect profits so that comes in with number two number two is having a entry and exit strategy so essentially what I mean by that is if you're winning psychologically we always want more like this greed that plays a huge effect with us when we're trading so if you're able to have a set plan that once you hit a daily certain percent off you're gonna stop trading for that day if for example you in a losing position you're gonna be cutting losses right there right at that spot and no more looking back a holding position for too long instead of playing and hoping for the best at the end of the day analysis is way better than prayers the third point is today is having a trading journal write down your entries and your exits essentially everything from your strategy that you want to imply and you want to record keep because in the long term you'll be able to see what's making you profit and what's making you lose and you'll be able to eliminate what's making you lose therefore making you profitable in the long term you need to have at least a hundred real-time trades in this journal for you to outlaw a strategy keep that in mind so when you first begin there is no such thing as a perfect strategy you need to find what works for you and go for it from that and the fourth thing actually ties in with having a trading journal and this is having a proper risk management strategy I know it sounds crazy but people who don't actually record their trading journals or trades at all come back to me and they're like hey I never knew this but my risk management was a completely off from what I originally thought it was I know this sounds crazy but it's just how some people are you need to actually have it in pen and paper or online like I do so you can see everything that works for you for me I have a 1 to 1 or a 1 to 2 ratio so I risk 10 pips to gain 10 tips I was 5 pips again 10 pips etc you guys understand the plan but that's it for risk management and essentially making sure that these are always in level when you're trading and the fifth tip for today is having discipline and patience I know you may think this is crazy but trading is all about discipline patience you guys need to stay 100% intact with the original training plan and keep going at it or else your entire trading strategy will just fall into place and your Trading Journal would be completely useless we don't stick to your plan you were going to lose money this is the biggest way in the easiest way for you to go and get swiped in the market and blow accounts it's as simple as that it's all I'm going to be leaving it to one tip I highly recommend and this will be the extra bonus for today but if you have a losing position don't revenge trade what I do in order to stop myself is analyze how I lost why I lost and I would take a one-hour break from the computer screen and go for a walk apply this to yourself and you essentially see if this plan and what I do works for you because when I mentioned to other people it has so test it out next time you have a position that doesn't go in the right way and let's see the difference it makes in your trading life