[Don’t tell anyone that you’re a trader yet]

You’re wondering:

“Why can’t I tell others that I’m a trader?”

Well, if you’re a consistently profitable trader, then go ahead. There’s no issue with it.

If you’re not, then it’s best to keep quiet about it.

That’s because when you tell your friend that you’re a trader, the first question you’ll get is…

“Have you made money from trading?”

Your answer is probably no.

And you won’t feel good about it as you’re reminded of your losses and how incompetent you are.

The next time you meet up with your friend again, guess what’s the first question he’ll ask you?

“Have you made money from trading?”

Again, your answer is no and you’ll feel horrible about it.

Now when you meet your friend the next time, guess what’s one question he’ll ask you?

You get my point.

So to avoid this “trauma”, don’t tell anyone about your trading endeavor—not even your family.

How To Draw Accurate Support and Resistance Levels

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If you want a fixed monthly income, don't be a trader.

How To Use Fibonacci Retracement (The Definitive Guide)

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[It never hurts to start small]

Let me ask you…

If you can afford to lose $10,000 without affecting your lifestyle, how much should you fund your trading account?

$10,000?

Wrong answer.

That’s because when you first start trading, your performance will be at its worst.

You’ll make trading mistakes, give in to your emotions, and do things that are detrimental to your account like averaging your losses, widening your stop loss, etc.

This means your $10,000 will not last long.

The solution?

Start with a small trading account.

This way, your mistakes won’t be costly and even if you lose it all, you have money to fund another account.

Because no matter what, you must pay tuition fees to the market.

The question is, do you want to pay more or less?

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/

No one can consistently predict the markets, call tops and bottoms.

So just follow price. Ride winners. Cut losers.

You'll be much further ahead than trying to outsmart the market.

I’ve Been Trading For 13 Year Here’s My Best Advice

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[Learn everything about trading, then pick what you need]

As a new trader, there are things you know that you don’t know.

And then, there are things you don’t know that you don’t know (which are even more).

So, don’t focus on one technique or strategy too early because it might not be a good fit.

Instead, explore your options out there.

Learn as much as you can about trading, anything you can get your hands on.

Things like day trading, swing trading, RSI, MACD, stochastic, moving average, counter-trend trading, trend following, etc.

Now here’s the thing:

Not every trading tool you learn will be useful to you.

But the key is to understand what it is, how it works, and the purpose of it.

For example:

The moving average is a trend following indicator (what it is).

It works by calculating the average price over a given period and is plotted as a line on the chart (how it works).

You can use moving average to trail your stop loss, identify the area of value, and filter for trending market conditions (the purpose of it).

Now…

Once you know the different tools out there, you can pick the right ones to fit your needs—and not blindly follow the herd.

The Fastest Way To Become A Profitable Trader

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Are You About To Quit Trading

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If you manage your risk, your profits will take care of itself.

If not, your parents will take care of you.

How To Draw Supply And Demand Zones (The Essential Guide)

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[Don’t quit your job, yet]

Let me share with you a quick story…

John (not his real name) just started trading the Forex market.

He funded a live account and made a $1,000 profit after a few trades.

So he thought to himself…

“If I can make $1,000 trading part-time, then I’ll make even more money trading full-time.”

So, John quit his job to trade full-time.

The first few days were good as he was making consistent profits from the markets.

Then the market changed and the losses crept in.

Eventually, he gave back all his profits and blew up his account—now he’s looking for a job.

The lesson?

Don’t quit your job, yet.

Just because you’ve made some money from the financial markets doesn’t mean you can do it full-time.

A safer approach is to trade part-time and develop the skills to become a profitable trader. Once you have acquired it, then you can consider the transition to full-time trading.

How To Grow A Small Trading Account

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In trading, you're not paid by the hour.

You’re paid by doing the correct things over again.

A Beginner’s Guide To Ichimoku Cloud Strategy

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[How to set proper profit targets (hint: it’s not about your risk-reward ratio)]

I laugh to myself whenever I hear traders comment:

“You must have a minimum of 1:2 risk-reward ratio if you want to be a profitable trader.”

Now let me ask you…

What’s so special about having a 1:2 risk-reward ratio?

Why not have a 1:10? Or even a 1:100?

So here’s the truth…

The market doesn’t care about your risk-reward ratio—it goes where it wants to go.

The only thing you can do is, observe what the market has done previously, and use it as a clue to where it might go in the future.

For example:

If the market previously collapsed at $100, then the next time it approaches $100, there’s a possibility of selling pressure coming in at that level.

As a swing trader, you don’t want to set your target at $105, $100, or $110 because the market might not get to that level due to selling pressure.

Instead, you want to exit your trade before opposing pressure steps in which is before $100 (around $99 or so).

This means if you’re in a long trade, you’ll want to exit your trade before:

–Swing high
–Resistance
–Downward trendline

(And it’s just the opposite for a short trade)

Do you want to read candlestick patterns like a professional trader?

Then download a FREE copy of The Monster Guide to Candlestick Patterns.

You'll discover how to "predict" market turning points and better time your entries & exits—even if you have no trading experience.

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

https://www.tradingwithrayner.com/candlestick-pdf-guide/

Many traders make the mistake of trying to find the best trading strategy.

In reality, it's about knowing yourself so you can find the best strategy to suit you.