[How to trade like a casino]

Here’s the thing:

Every casino in the world has an edge over the players.

But, why are some casinos more profitable than others? And why do some casinos even go bankrupt?

On the surface, it seems like all you need is a statistical advantage over the players for you to mint money.

But, that’s only one small part of the equation.

You must also figure out how to…

- Attract new customers from competitors
- Retain existing customers
- Incentivize customers to spend more
- Keep your customers happy
- Etc.

Clearly, there are a lot of moving parts and one person can’t manage everything.

So, how does a casino do it?

The secret is this…

A casino has systems for everything they do.

For example:

#1: A casino has a system in place to incentivize their best customers to come back often by offering perks like free accommodations, transport, etc.

#2: All dealers follow a systematic way of playing Blackjack so the casino can consistently increase their revenue (and not leave it to the discretion of a dealer).

Now you might not be running a casino but, you’re managing your own trading business.

So, how do you manage it like a casino?

Well, you must have systems in place.

For example…

Risk management to ensure you don’t lose everything on a single trade.

Source of funds so you can pump in more money to your account and scale up your trading business.

Trading strategy so you have a fixed approach to enter & exit your trades — which improves your consistency.

Research & development so you can build new trading strategies and profit in different market conditions.

In other words, if you want a sustainable trading business that generates consistent profits, then you must have systems in place so your actions are consistent.

How Long Does It Take To Be A Profitable Trader?

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How To Grow A Small Trading Account

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One tip I can give to a fearful trader is to trade smaller.

Keep reducing risk to your comfort level, and slowly work your way up.

Rome wasn't built in a day and it's the same for your trading account.

Price Action Trading: 6 Things To Look For Before You Place A Trade

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[Why you lose money with trading indicators]

Many traders don’t know how this game is supposed to be played.

They believe the answer lies in the “right” combination of indicators that will make them rich.

So they buy the latest trading indicators to help them crack the code.

And after many failed attempts, they wonder why they lose money with trading indicators.

Do you want to know why?

Here’s the truth…

Indicators are a derivative of price. They simply indicate to you what has happened, not what will happen.

So, no matter how many different combinations you try, you’ll never be a profitable trader if you solely rely on trading indicators to make your decisions.

Trading indicators are meant to aid your decision-making process, not be the decision-maker.

9 things professional traders do that losers don't

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Don't focus on outcome goals like: “I want to make $20k a month.”

It’s not within your control and sets you up for failure.

Instead, focus on the things you can control like:

–Trading a system that has an edge in the markets
–Following the rules of your trading system.
–Proper risk management

Do these and the outcome will take care of itself.

MT4 Tips  and Tricks (A Definitive Guide)

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[Why you lose money with trading indicators]

Here’s the thing:

There are profitable traders out there who use indicators in their trading.

And you’re probably thinking:

“Since they are making money with these indicators, why don’t I just copy them?”

So, that’s what you do.

You follow the same indicators, settings, instructions, etc.

But, you still lose money with trading indicators.

Why?

Because what you see is only the surface, not the complete picture.

Here’s an example:

Let’s say Michael is a profitable trader who relies on trading indicators to time his entries and exits.

Now, the reason why Michael finds success with indicators is not that he found the “perfect” settings or whatsoever.

Rather, it’s because he knows how to switch gears and use different indicators for different market conditions.

So if you were to blindly follow what he does, then when the market changes, your trading indicators will stop working and that’s when the bleeding starts.

Do you want to read the price action of the markets like a professional trader?

Then download a FREE copy of The Ultimate Guide to Price Action Trading.

You’ll learn how to better time your entries, “predict” marketing turning points, identify explosive breakout trades about to happen, and much more…

Click the link below and grab your copy, it’s free!

https://www.tradingwithrayner.com/ultimate-guide-price-action-trading/

Advice to traders:

Manage your risk.

You must have an edge.

Don't hop from system to system.

You’re not going to get rich quick.

Consistent action = consistent results

The Essential Guide To Multi-Timeframe Analysis

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[How to use trading indicators like a pro]

A mistake almost all new traders make is to add many indicators onto their charts, regardless of whether the indicators have a purpose, or not.

But as you know, having more indicators doesn’t mean a thing. Instead, they only add “noise” to your trading and make things more confusing.

So, the rule is this:

Every trading indicator on your chart must have a purpose.

For example…

If you want to identify the trend, then you can consider the Moving Average.

If you want to time your entry, you can consider Stochastic or RSI.

If you want to trail your stop loss, you can consider Chandelier Exit or Moving Average.

So, if there’s an indicator on your chart and you can’t find a purpose for it, exterminate it.

How To Trade Forex With A Small Trading Account

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Range vs Trending Market

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No edge.

No discipline.

No accountability.

No risk management.

No surprise why most traders fail.

Secrets To Trading Success (What I’ve Learned From The Market Wizards)

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Wycoff Theory For Beginners (The Definitive Guide)

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[How to use trading indicators like a pro]

You don’t want to have multiple indicators from the same category because they are correlated and doesn’t provide any new information.

That’s like trying to get your wife pregnant in one month by “firing” incessantly. It doesn’t work.

And it’s the same for trading.

So, the rule of thumb is this:

Have only one indicator for each purpose.

I’ll explain…

If you want to trail your stop loss, you can use either the Moving Average or Chandelier Exit — but not both.

Or if you want to time your entry, you can use either the RSI indicator or Stochastic, but not two together because they have the same purpose.

Does it make sense?