Get your hands dirty and do the work because that's how you develop conviction in your trading strategy.
Then apply risk management so you don't blow up.
Finally, stop chasing the latest fads because it won't make you a better trader—doing the work will.
Then apply risk management so you don't blow up.
Finally, stop chasing the latest fads because it won't make you a better trader—doing the work will.
The Best Indicators for Swing Trading (Profit From Different Market & Timeframe)
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[Be prepared for a steep learning curve before profitability]
I’m sure you can agree:
Professionals like lawyers, doctors, pilots, etc. spend 5 years (or more) to master their craft.
That’s why in the early years of their career, they typically don’t “see the money” as they are in the learning stage.
But when they get good at it, BOOM, the money starts rolling in—but, it doesn’t happen overnight.
And it’s the same for a professional trader!
You’ll take years to build your foundation, make mistakes, find your edge, and if you survive long enough, you can’t help but get good at it.
So, don’t come into trading thinking you can quit your day job after taking an online course—it doesn’t work that way.
There’s a steep learning curve ahead and you must be prepared for it.
You’ve been warned.
I’m sure you can agree:
Professionals like lawyers, doctors, pilots, etc. spend 5 years (or more) to master their craft.
That’s why in the early years of their career, they typically don’t “see the money” as they are in the learning stage.
But when they get good at it, BOOM, the money starts rolling in—but, it doesn’t happen overnight.
And it’s the same for a professional trader!
You’ll take years to build your foundation, make mistakes, find your edge, and if you survive long enough, you can’t help but get good at it.
So, don’t come into trading thinking you can quit your day job after taking an online course—it doesn’t work that way.
There’s a steep learning curve ahead and you must be prepared for it.
You’ve been warned.
The Complete Guide to demo Trading
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How To Develop Consistency In Trading
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If you’re broke, don’t be a trader.
Instead, get a job so you can pay the bills.
Then, you can learn how to trade.
This puts you in a position of strength as you remove “the need to make money” syndrome.
Doing this will 10x your chance of success.
Instead, get a job so you can pay the bills.
Then, you can learn how to trade.
This puts you in a position of strength as you remove “the need to make money” syndrome.
Doing this will 10x your chance of success.
The Definitive Guide on How to Set a Stop Loss
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[You must trade with an edge (otherwise nothing else matters)]
You might be wondering:
“What is an edge?”
In layman’s terms, an edge is something you do repeatedly that yields a positive result.
For example:
The casino has an edge over the players because with more bets being played, the more the casino earns (in the long-run).
In mathematical terms, an edge is something that gives you a positive expectancy in the long run.
For example:
If every time you toss a coin and it comes up head, you win $2. And if it comes up tail, I lose $1.
In the long run, who will win?
You, of course!
By the way, if you want to learn a new trading system that has an edge in the markets, then check this out.
Now, this is important so I’ll repeat…
You must have an edge in the markets if you want to be a consistently profitable trader.
It doesn’t matter if you have the best trading psychology, risk management, favourable risk-to-reward ratio, etc.
Because without an edge, none of it matters.
Don’t believe me?
Then head down to your nearest casino.
You can bring along the best psychology, apply proper risk management, play games with favourable risk to reward, but in the long-run, you’ll still lose money.
Why?
Because the casino has a mathematical edge over you.
And it’s the same for trading!
IF you want to profit from the financial markets, then you must have an edge!
You might be wondering:
“What is an edge?”
In layman’s terms, an edge is something you do repeatedly that yields a positive result.
For example:
The casino has an edge over the players because with more bets being played, the more the casino earns (in the long-run).
In mathematical terms, an edge is something that gives you a positive expectancy in the long run.
For example:
If every time you toss a coin and it comes up head, you win $2. And if it comes up tail, I lose $1.
In the long run, who will win?
You, of course!
By the way, if you want to learn a new trading system that has an edge in the markets, then check this out.
Now, this is important so I’ll repeat…
You must have an edge in the markets if you want to be a consistently profitable trader.
It doesn’t matter if you have the best trading psychology, risk management, favourable risk-to-reward ratio, etc.
Because without an edge, none of it matters.
Don’t believe me?
Then head down to your nearest casino.
You can bring along the best psychology, apply proper risk management, play games with favourable risk to reward, but in the long-run, you’ll still lose money.
Why?
Because the casino has a mathematical edge over you.
And it’s the same for trading!
IF you want to profit from the financial markets, then you must have an edge!
The Essential Guide To RSI Indicator
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Quit trying to trade every level on your chart.
Instead, pick a spot to trade where you’ll lose small when wrong—and the market can reward you when right.
The result?
Less trading, less commissions, less mistakes, and a fatter bottom line.
Instead, pick a spot to trade where you’ll lose small when wrong—and the market can reward you when right.
The result?
Less trading, less commissions, less mistakes, and a fatter bottom line.
How To Read and Interpret The Moving Average
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[Follow your trading plan regardless of each trade’s outcome]
When I was a 7-year-old, my teacher would give me a “star sticker” whenever I put in the effort to do my homework, regardless of whether the answer is right or wrong.
In other words, she rewards effort, not the outcome.
If you think about it, this approach is highly suitable for trading.
You should reward yourself whenever you follow your trading plan regardless of whether the trade is a winning or a loser.
So here’s how the star system works…
—Every time you follow your plan, you get 1 star
—Every time you didn’t follow your plan, you get -2 stars
—The goal of the star system is to accumulate 100 stars
As you can see, the focus isn’t to make profits.
Rather, it’s to accumulate as many stars as possible by being consistent with your actions.
Remember, a consistent set of actions lead to a consistent set of results.
When I was a 7-year-old, my teacher would give me a “star sticker” whenever I put in the effort to do my homework, regardless of whether the answer is right or wrong.
In other words, she rewards effort, not the outcome.
If you think about it, this approach is highly suitable for trading.
You should reward yourself whenever you follow your trading plan regardless of whether the trade is a winning or a loser.
So here’s how the star system works…
—Every time you follow your plan, you get 1 star
—Every time you didn’t follow your plan, you get -2 stars
—The goal of the star system is to accumulate 100 stars
As you can see, the focus isn’t to make profits.
Rather, it’s to accumulate as many stars as possible by being consistent with your actions.
Remember, a consistent set of actions lead to a consistent set of results.
Discover Professional Price Action Trading Strategies To Profit In Bull And Bear Markets
Learn More 👉 https://priceactiontradingsecrets.com/
Learn More 👉 https://priceactiontradingsecrets.com/
Winning rate alone is meaningless.
You can have a 90% winning rate with an average gain of $100.
But if your average loss is $1,000, you still lose in the long run.
Solution? Look at both your winning rate and risk-to-reward ratio.
You can't look at one without the other.
You can have a 90% winning rate with an average gain of $100.
But if your average loss is $1,000, you still lose in the long run.
Solution? Look at both your winning rate and risk-to-reward ratio.
You can't look at one without the other.
100- Day Moving Average: Definition, Calculation & Strategies
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[Always be a student of the markets]
Here’s my learning curve as a trader:
I started with indicators, then price action trading.
And for a few years, I thought that’s all I needed because after all, the price is king and that’s all I needed to be a profitable trader.
But that hurts my growth because I tuned out everything else (and limited myself only to price action trading).
When I realized my folly, I quickly went back to being a student of the markets.
So I asked myself:
“What are other winning traders doing to profit from the markets?”
That’s when I got exposed to trend following, systems trading, mean reversion trading, etc.
By expanding my knowledge and incorporating different strategies, I was able to find more trading opportunities (most traders are blinded to).
So here's the deal...
You may (or may not) be a profitable trader but, it doesn’t mean your learning curve is over because you’re always a student of the market.
I encourage you to keep learning and exploring new strategies. Don't limit yourself to just one approach, because there's always more to discover.
Ultimately, the key is to remain open-minded and willing to try new things. It can be scary to step outside your comfort zone, but it's often the only way to achieve true growth and success.
Here’s my learning curve as a trader:
I started with indicators, then price action trading.
And for a few years, I thought that’s all I needed because after all, the price is king and that’s all I needed to be a profitable trader.
But that hurts my growth because I tuned out everything else (and limited myself only to price action trading).
When I realized my folly, I quickly went back to being a student of the markets.
So I asked myself:
“What are other winning traders doing to profit from the markets?”
That’s when I got exposed to trend following, systems trading, mean reversion trading, etc.
By expanding my knowledge and incorporating different strategies, I was able to find more trading opportunities (most traders are blinded to).
So here's the deal...
You may (or may not) be a profitable trader but, it doesn’t mean your learning curve is over because you’re always a student of the market.
I encourage you to keep learning and exploring new strategies. Don't limit yourself to just one approach, because there's always more to discover.
Ultimately, the key is to remain open-minded and willing to try new things. It can be scary to step outside your comfort zone, but it's often the only way to achieve true growth and success.
6 Trading Habits Which Keep You Poor (Without You Realizing It)
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How I Would Learn To Trade (If I Had To Start Over Again?
Watch Now 👉 https://youtu.be/yF6fCCz3IJU?si=byNFSc6u1byGaqgl
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Watch Now 👉 https://youtu.be/yF6fCCz3IJU?si=byNFSc6u1byGaqgl
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20-Day & 30- Day Moving Average: Definition, Calculation & Strategies
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