The 12 Dangers of Trading DoubtDoubt is danger.
It’s a big enemy for trading.
And it’s something that is innate, which is hard to escape from.
It leads to you to miss opportunities, destroys confidence, clouds judgement and keeps you stuck in a rut.
When you are infected with doubt, this can infiltrate even the most experienced traders.
This article delves into the various dangers of trading doubt and how to overcome its destructive effects.
Missed Opportunities
When doubt creeps in, traders often find themselves hesitating or second-guessing their decisions.
Once you feel hesitation, you’ll miss great opportunities.
Winners will be left on the table.
All because you doubt it’ll go your way and that the markets are conducive.
If you want to stop the doubt you need to act swift and make decisions within three second.
1, 2, 3 – ACT!
Loss in Confidence
Without confidence, you’re going to doubt.
You’re going to question your skills, strategies, and abilities.
As confidence dwindles, you’re going to feel strong fear, panic and worry.
This will lead to irrational decisions driven by emotions rather than logic, rationality and sound analysis.
Change Your System
Even if you have a winning system.
Doubt could cause you to abandon it.
You might already be thinking of finding another.
Looking for better parameters.
Adding extra elements and variables.
This constant tinkering will prevent you from fully realizing the potential of their proven trading strategy and approach.
This is a time game. Not a week, not a month. Noth even three years.
Your trading success will come from being consistent, persistent and consistently applying a well-defined strategy over time.
Search for “Better”
You might even doubt trading all together.
You might have lost a bit of money and now you have this desire to make it back.
So you’ll look into gambling, sports betting, Amway or any other scheme instead.
But you’ll most likely be disappointed. Because everything worth doing well for reward, consists of elements of risk and time.
Don’t Take the Trade
Your finger could be between three stone walls.
Or your finger could be 1 mm from the button.
If you have doubt with your trades, this will paralyse you to enter a trade.
This hesitation will lead you to:
Miss trades
Miss profits
Interfere with the system
Lose confidence
Exacerbate panic and fear
This will only set a precedent for you to do it again.
It’s a bad habit that can destroy you as a trader.
Don’t Follow Criteria
Doubt can lead to a disregard your essential rules.
You might:
Get in at different levels
Move your stop loss further away
Close prematurely for tiny profits or
Take a trade that does NOT match the criteria.
If you question the trading validity of your criteria, this will turn you into an undisciplined and unsuccessful trader.
Overtrading
Once doubt sets in – so will mania.
And to break away from doubt, you take on a dangerous path.
In an attempt to overcome doubt, you might start overtrading or revenge trading.
This is where you’ll enter too many trades in quick succession, without following any criteria.
Emotional Roller Coaster
Doubt is not just feeling lazy.
It actually comes with feelings of frustration, anxiety, and self-doubt dominating their thought process.
This emotional turmoil can cloud judgment and lead to reactive rather than rational decision-making.
Analysis Paralysis
When doubt takes hold, this is where you might go all out with indicators, parameters and price action elements.
This will lead you to excessive analysis.
You’ll continuously seek more information before making a decision.
This analysis paralysis can cause a couple of issues.
It can overcomplicate trading
It makes back and forward testing almost impossible
The variables can cause conflict with each other.
Your charts will look like Christmas trees
This can lead you to miss trading opportunities and an inability to take action.
Inconsistent Results
Consistency is key in trading success.
Doubt-driven decisions can lead you to inconsistent results.
You’ll have your journal with how the trades were SUPPOSED to go.
Versus how you made them go.
And this will make it challenging to gauge the effectiveness of a trading strategy over the long term.
Psychological Toll
Doubt is a constant battle.
If you have this, it will infect your mind it will take a toll on your mental well-being.
It can lead to stress, burnout, and even health issues if you don’t fix them.
Loss Aversion
Doubt can cause a psychological bias known as loss aversion.
This is where traders become will focus to avoid losses rather than maximise their gains.
This mindset can hinder traders from taking necessary risks to achieve substantial profits.
Focus on cutting small losses and banking small profits and you’ll have a recipe for disaster.
It’s time to build your confidence
This will come from working on a trading journal, risking less and building a track record.
Over time, the doubt will creep away and the certainty will override.
Let’s some up the elements of doubt for a trader…
Missed Opportunities
Loss in Confidence
Change Your System
Search for “Better”
Don’t Take the Trade
Don’t Follow Criteria
Overtrading
Emotional Roller Coaster
Analysis Paralysis
Inconsistent Results
Psychological Toll
Loss Aversion
Tradinglessons
The only constant with trading the markets is...The only thing constant about financial markets is that they change.
And since 2007 or so, with the higher availability of trading different instruments and markets world-wide.
And not to mention, the ability to go long (buy) and go short (sell).
Yes, these everyday possibilities were difficult to find and trade back then.
Now I’m speaking my age in the markets. But it’s important to know, the algorithms are changing the game every single year.
As long as you’re a trader you need to be able to learn, grow, adapt and evolve with every changing markets.
Let’s go into details about WHY the markets are changing…
Since around 2007, the landscape has undergone significant transformations, driven by several key factors that shape the dynamic nature of these markets.
1. Globalisation and Technological Advancements
Traders now are able to gain access to enhanced connectivity, facilitating participation in markets worldwide.
They also have amazing trading and charting platforms like TradingView.
This increased speed of information dissemination and transactions has a profound impact on market dynamics. And this helps contribute to the perpetual state of change.
2. Diversification of Instruments and Markets
The availability of diverse financial instruments, ranging from stocks and bonds to commodities and cryptocurrencies, has expanded trading possibilities.
Each year we seem to have more assets, markets, instruments, structured products and choices.
It's building into a trading universe in a way.
And each market possesses unique characteristics influenced by distinct factors.
This diversity introduces complexity to trading strategies. And this requires traders to navigate a broad spectrum of instruments with different behaviors.
As long as there are new and improved assets, the markets will always change.
3. Long and Short Positions
Unlike in the past, where shorting certain markets proved challenging, the ability to go long (buy) and short (sell) has become more prevalent.
This flexibility allows traders to capitalize on both upward and downward market movements.
With the ability to go long and short a variety of markets, this is changing the financial landscape of the markets.
Price action no longer moves in a Zig Zag 45 degree motion.
There are more dips and rallies without strong trends, like in the past.
All because of the intrciacies of long and short positions also adds intricacy to risk management strategies. talking about algorithms.
4. Rise of Algorithmic Trading
Algorithmic trading has emerged as a game-changer in financial markets.
This involves using computer programs to execute trades based on predefined criteria.
The influence of algorithmic trading is profound, contributing to increased liquidity, faster execution, and the development of innovative trading strategies.
As algorithms evolve each year, they continually reshape the dynamics of the trading landscape.
5. Market Participants and Strategies
The composition of market participants has evolved, with institutional investors, hedge funds, high-frequency traders, and retail traders all playing pivotal roles.
All of a sudden we've seen a spike in the new trend of trading with Smart Money Concepts and Inner Circle Trading, in the last two years.
These changes in the behavior and strategies of these participants can swiftly impact market trends and volatility.
The influx of retail traders, facilitated by online platforms, further adds new dynamics to the markets.
So once again, the only constant for traders is the change that is taking place in the financial landscape and market universe.
Traders who evolve, adapt, acknowledge and respond effectively to the perpetual state of change are better positioned for success in this dynamic and challenging environment.
9 Elements to Master Algo-TradingThere are two types of trading.
Discretionary where you buy and sell based on variable factors.
Mechanical where you buy and sell on fixed factors.
If you want a strong edge with the markets, then you’ll need to consider the latter.
And hence we have algorithmic, or algo trading.
Algo trading, or algorithmic trading, is the use of computer programs to automate the process of trading financial assets.
These programs, or algorithms, execute trades based on predefined rules and criteria.
Now when you dissect algo trading to its core, you’ll realise there are important elements you’ll need to consider to master it.
Element #1. Database Management & Analysis
Algo trading simply begins with a whole bunch of comprehensive and organised data management.
You’ll use the financial markets to generate vast amounts of data, including historical price movements, trading volumes, and momentum indicators.
Basically, you’ll need this database to create a strong back tested analysis.
That way you’ll be able to get the accurate data to tell you how it’s performed, the expectations and the best and worst case scenarios.
Element #2: Statistical Analysis
Once you have the database of tested information.
You’ll be able to work on your statistical analysis to see the inner workings of the system in action.
Win & loss rate
Best & average winners and losers
Drawdown averages
Average trade
Expectancy formula
Biggest and smallest winner & loser
Average week, month, quarter and year
Basically, all the stats you need that forms the bedrock of successful algo trading strategies.
When you have this data you’ll be able to spot trends, correlations, and anomalies within financial data.
Element #3. Pattern Recognition Skills
Pattern recognition is a core competency in algo trading. We aren’t fully there yet with AI, Machine Learning and Deep Learning. But we’re getting there.
With trading expertise combined with algorithmic precision – this will allow computers to find recurring chart patterns, candlestick formations, and technical indicators.
These patterns often help give trends, reversals, potential market movements, and opportunities to enter or exit a trade.
E lement #4. Machine Learning
Machine learning, a subset of artificial intelligence.
By using historical data, machine learning algorithms can adapt and improve trading strategies over time.
So whether you have a moving average, chart patterns, Smart Money Concepts, Fibonacci or any other trading system.
With Machine Learning, it will input more data and will be able to change, add, remove and optimise elements in your strategy to make it MORE successful.
In just no time at all, these algorithms will learn from past successes and failures, fine-tuning trading parameters and strategies to optimise your trading performance.
E lement #5. Trading EA Strategies
Expert Advisors (EAs) are your everyday trading robots.
These are algorithmic programs that are developed for trading platforms like MetaTrader and soon TradingView.
These EAs help you to execute trades based on your pre-defined rules and criteria.
You’ll then be able to design and backtest these strategies to make sure they are viable and profitable in REAL market conditions.
And when it’s time to take trades, EAs do it for you.
They will be able to automate the execution process – with no emotions or hesitance.
This will allow you to capitalise on opportunities 24/7 without any human intervention.
And you no what that means. It’s going to do the job!
Element #6. Problem-Solving Skills
You are going to hit a bunch of obstacles in the way.
There are major challenges when it comes to algo-trading.
And you’ll need to have strong problem-solving skills to overcome them and succeed.
Just like programmers deal with bugs, glitches and problems with code.
You’ll also find problems with paramaters, markets, rules, criteria and risk management calculations.
If you have strong problem-solving skills you’ll be able to quickly identify and sort out the issues, diagnose causes, and find and implement solutions to maintain consistent performance.
Element #7. Attention to Detail
You need to have an eye for algo-trading.
When the smallest discrepancies or inaccuracy can have major consequences for your portfolios performance.
You’ll need to consistently review your strategies, parameters, and data inputs.
That way it’ll help to make sure your system is accurate, reliable and trustworthy.
Element #8. Risk Management
It’s not just about creating a solid trading strategy and system.
You’ll need to have effective risk management too.
With Algo trading, you’ll need to employ a couple of money management techniques like:
Position sizing
Stop-loss orders and criteria
Portfolio diversification
When to close based on over time
When to adjust your positions
When to risk a certain percentage based on different market environments
This will help you to protect, preserve and prosper with your portfolios.
Element #9. Market adaptability
Markets are dynamic.
Markets trend.
Markets move sideways.
Markets jump in irrational circumstances.
As an algo trader, you’ll need to find a way to adapt your system into the programme to identify these market environments.
E.g. When the main market is above the 200MA only look for longs
When the main market is below the 200MA only look for shorts.
When the market is within a box range – Don’t look for any trades.
As you can see, there are many elements to being a successful algo-trader.
It also takes a ton of innovation.
But have this article with you, for when technology and developments improve – You’ll have certain ideas and steps to take to improve your algo trading.
Let’s sum up the important elements to algo-trading…
Element #1. Database Management & Analysis
Element #2: Statistical Analysis
Element #3. Pattern Recognition Skills
Element #4. Machine Learning
Element #5. Trading EA Strategies
Element #6. Problem-Solving Skills
Element #7. Attention to Detail
Element #8. Risk Management
Element #9. Market adaptability
Do you use Algo-Trading with the markets?
Q&A MARGIN CALL - Everything you need to know Today's Q&A I want to answer the most common questions I get about Margin Calls.
Let's begin.
Q. What is the Margin Call?
A margin call is a situation where a trader does not have enough funds in their account to keep a trading position open.
Your broker will either phone you or you'll receive an automated message with a margin call warning.
Q. What can you do when you hit a Margin Call?
If you are ever in this situation, you will be instructed to do two things.
Deposit more funds into your portfolio to keep your trading positions opened.
Close your current open position/s that are running at a loss, before your trading platform closes them out for you.
Tip: When setting up a trading account with a broker find out what their minimum margin requirements are.
Q&A: Can you show an example with a Margin Call?
Let’s look at an example with a Margin Call
Here are the specifics:
Equity portfolio: R10,000
Initial margin deposit: R5,500
You buy a CFD trade which says you need to have at least 30% of the margin (initial deposit) in your account, to keep the trade opened.
This means, you need R1,650 (30%) in your account to keep your trade opened.
The next day comes and the market crashes below your stop loss.
Your new account balance is now R1,500…
Unfortunately, you’ll hit a Margin Call as your portfolio only has 27% of the initial margin of your trade.
= Equity ÷ initial margin deposit
= R1,500 / R5,500
= 27%
27% is less than 30% of what you need to maintain an open trade.
The broker now has the right to close the trade and to send you a notification about what happened.
You will receive a margin call to instruct you to deposit more money into your account or to close your trading positions.
Q&A: What if I can't pay back the money when I hit a Margin Call?
Essentially, you will be owing the broker as they will not be carrying the risk.
If you cannot pay it or refuse to clear the negative balance, you will not be allowed to trade with the broker and/or trading platform again until you pay what you owe.
Depending on the size of the debt, if you refuse to pay it then some brokers may have the legal right to pursue the outstanding debt through legal means.
This means they could file a lawsuit.
They could even take the matter to court, where a judgement may be issued where the trader will be required to repay the debt.
What Q&A would you like to see next?
If you enjoyed it or found this useful let me know so I can do more for TradingView...
Trade well...
Stop Multi-Tasking and Start Mono-Tasking! – 8 Trading ReasonsYou’re risking your own money when trading.
You realise that?
And in this fast-paced world, it takes a split second to break a fortune.
It takes a split second to miss an opportunity.
It takes a split second to lose focus.
And it’s all down to one trait that is actually detrimental to your trading.
Multi-tasking.
Here’s why.
Reason #1: Missed Opportunities
When you try to juggle too many charts, markets and tasks at the same time – it’s risky.
And if you distract yourself at the same time with social media, your cute cat, the news and hype…
It makes it a whole lot worse.
You might miss the best and highest probability trades – that you need to grow your account.
If you want to really dig into finding the best opportunities you need laser focus and tunnel vision.
So stop multi-tasking and instead stick to mono tasking.
Reason #2: Delays in Priorities
If you multi-task, it can lead to a delay in focusing on high-priority tasks.
Any delay, can result in:
Catching the trade too late
Skipping the trade completely
Forgetting what you need to execute
Taking an unnecessary loss
You need to stop diverting your attention away from urgent market developments.
Instead, make it a priority to focus on finishing that one task.
And make sure you do it with your undivided attention.
Reason #3: Elevated Stress Levels
As traders, we’re not only working on our method and money management – but also our mindset.
Financial trading and risking money is already stressful alone.
So, multi-tasking can only exacerbate this stress.
And when you get stress you don’t need me to remind you what happens:
You see red
Your judgement becomes cloudy
You make impulsive decisions
You make wrong decisions
Your emotions override your logicality and rationality.
You can get stress all because you’re doing too many things at once.
Keep to one thing and compartmentalise the others. This will do wonders for your stress levels.
Reason #4: Drop in Productivity
You’d think if you do more, it’ll enhance productivity.
Because you’ll get stuff done right?
Um no.
With complex instruments analyses and risk management principles, trading needs deep analysis, strategic planning, and quick execution.
With multi-tasking, you’ll most likely shift between tasks rapidly.
This will not only disrupt the flow of concentration you need for one task at a time.
It could also reduce the efficiency and suboptimal outcomes for every task you take on.
Reason #5: More Mistakes
To err is human.
And if you multi-task and take on too many things, this will increase the likelihood of errors in trading.
You might enter the wrong amount.
Get in at the wrong prices.
Get your volume wrong.
But more likely, you’ll misinterpret good market signals.
Each mistake has the potential to reduce your profits and damage your reputation.
Reason #6: Reduced Learning Opportunities
Successful trading is an ongoing learning process.
When you multi-task, it hinders you from fully engaging with market trends, historical data, and educational resources.
When you’re learning one thing – stick to one thing.
Or it’s going to go in the one ear – out the other.
Be passionate and fully immerse yourself in the one thing you’re learning at a time.
You’ll find you’ll get a better and deeper understanding which is critical for your learning journey.
Reason #7: Loss of Concentration
Multitasking fragments attention.
This makes it super difficult to maintain the level of concentration you need when trading.
When you jump from one thing to another.
This rapid task-switching, diminishes the brain’s capacity to keep focus.
And this could lower your analytical attention.
Reason #8: Overwhelm and Burnout
We’ve spoken about how multi-tasking increases stress and cortisol levels.
But if you fail to work on it, you’re going to eventually go kaput.
This is a forever game.
The last thing you want to do is burnout in the journey.
The last thing you want to do is develop a mental fatigue.
The last thing you want to do is fail because you quit.
Final words.
Stop multi-tasking and start mono-tasking.
Your singular focus will show you amazing, productive, optimal and efficient results.
Not just with trading, but every task you set your heart and mind to.
Let’s sum up the 8 reasons why Multi-Tasking is an absolute NO when trading.
Reason #1: Missed Opportunities
Reason #2: Delays in Priorities
Reason #3: Elevated Stress Levels
Reason #4: Drop in Productivity
Reason #5: More Mistakes
Reason #6: Reduced Learning Opportunities
Reason #7: Loss of Concentration
Reason #8: Overwhelm and Burnout
How to Stop Trading Pocrastination – 8 WaysIf you find it hard to press the trigger, you may be suffering with…
Trading procrastination.
This is definitely a major hurdle with trading well.
The good news is that, this is a temporary problem that you can fix today.
With the right strategies and mindset, you can overcome this challenge.
I have a few ways you can stop procrastinating.
#1: Choose Your Trading Days
One of the first steps is to get your schedule right.
If you’re trading stocks, indices, forex, commodities or crypto – choose the days you want to trade each one.
First you’ll need to analyse the markets and your watchlist.
Write down the trades that are most likely going to line up.
And then, you’ll be able to condition your mind to prepare for trading on designated days.
This will take away the analyses paralyses and overwhelming effect of looking at too many markets at once.
#2: Set Smaller Tasks
When you have gone through your watchlists on your charting platform.
Plot all the potential entries and exits and write down notes on what you will be trading.
This will help you remind you what you’ll need to take action with.
#3: Track Results on a Specific Day
You don’t have to review and track your performance everyday.
Trading is a medium to long term approach.
So, maybe choose a Friday or Saturday to go through your track record and see how you performed or are performing.
It will also tell you which trades are working in your favour or whether you’re in a drawdown or not.
A regular check-up with your performance, can serve as a powerful deterrent to procrastination.
#4: Remove Distractions
You need to create a calm and serene environment when you trade.
Clear your desk, close your tabs, switch off your TV.
Create laser focus and it’ll help you be more inclined to act on what needs to be done.
If you lower the interruptions, your productivity and alertness will also pick up.
#5: Self-Talk
Trading is a mindset game.
Sometimes, you need to have a few conversations with yourself.
And there needs to be positive reinforcement and self-talk to overcome procrastination.
Say things like:
~ This is a high probability trade lined up according to my strategy – I need to just take the trade.
~ I only have 2% of my portfolio to lose – so I am prepared.
~ The trading portfolio is not going to grow by itself – I need to act.
Train your mind to recognize negative thoughts and replace them with affirmations that boost your confidence and belief in your trading abilities.
Build a strong self-belief system with strong action points and it will help you tackle challenging trading situations head-on.
#6: Reward Yourself
If a trade lined up and you get in – reward yourself.
If you took your take profit according to your strategy – reward yourself.
If you stuck with your guns and took the loss according to your system – reward yourself.
If you need to adjust a trade according to your rules – reward yourself.
Go for a walk, grab a drink, make a meal, smoke a cigar or whatever you enjoy.
You need to celebrate the small things to help with your trading accomplishments.
Set up a reward system to recognize your efforts and achievements.
This will motivate you to stay on track and keep going.
#7: Visualize Success
If you have your trading plan and strategy in place, you have the game-plan.
Close your eyes and envision when the days are good and when your portfolio heads up to all time highs.
Visualizing successful trading outcomes can be a powerful motivator.
Embrace the feeling of achievement and success, as this mental rehearsal which can positively impact your actual trading performance.
#8: Learn from Mistakes
When you learn something new from trading.
Jot it down with strong lessons to apply in the future.
Also, analyse your past mistakes and use them as stepping stones toward improvement.
Adopt a growth mindset to help empower you to make proactive decisions and drive your trading progress forward.
FINAL WORDS:
You can conquer procrastination, one step at a time.
Take action.
Stay consistent.
Attain and measure attainable goals.
Never give up.
Let’s sum up the actions you can take to stop procrastinating.
#1: Choose Your Trading Days
#2: Set Smaller Tasks
#3: Track Results on a Specific Day
#4: Remove Distractions
#5: Self-Talk
#6: Reward Yourself
#7: Visualize Success
#8: Learn from Mistakes
If this resonated with you let me know :)
Why you Are a Mass Procrastinator – 7 ReasonsAre you stuck in a trading rut?
Have you thought to yourself.
You have all the knowledge, tools, skills, strategies etc…
And yet you don’t believe you’re getting the trading results you expected?
I think it’s because of the ‘Procrastination Gremlin”.
It’s a common issue. For three years during my trading career I was a mass procrastinator.
I never took trades when they lined up.
I never deposited more money to grow my account.
I never tracked and reviewed my trades on a weekly basis.
It became a disease as well as a comfort zone.
But what you might realise is when you LEAVE that comfort zone of procrastination, you might find it was never comfortable to begin with.
It slowed down your growth and progress as a trader.
So if you can relate to some of the things I’ve mentioned already, this article is for you.
Let’s explore if you’re a mass procrastinator.
You Doubt Trades
One of the most common forms of procrastination is when you doubt taking trades.
You hesitate and find every excuse to not trade for the day.
The problem is this.
Doubt slows down your decision-making process, and causes missed opportunities.
If you have a winning and proven system and you have money you can afford to trade with great money management principles.
Just Take The Trade!
Skip Trades
Ahhh, I’ll skip this trade and take the next.
Skipping trades is another form of procrastination.
What are you waiting for?
The “perfect” trading setup, the right “timing”, the right gut (gat) feel?
Stop skipping.
Remember, in trading, there’s no perfect moment. You are bound to take trades with losses. So if you’ve incorporated them into your trading, why are you skipping the trades?
Worst case scenario, you take a small loss.
Best case scenario, you ban a whopper of a winner.
Listen… Consistency and resilience are what brings success.
Stop skipping trades when they line up. J.T.T.T
Skip Days
I get this.
Monday is a storm of a day after the weekend.
Friday is a calm day to prepare for the weekend.
That’s what I’ve gathered over the years.
But it doesn’t mean I skip trades. If they line up (Monday or Friday or any other day, just take it).
Successful trading requires regular market analysis and being persistent with your trading.
Stick to a routine, check the markets and try not to skip days.
Forget Tracking
If you also forget to track your trades, this is another sign of procrastination.
Tracking helps you analyse your performance, learn from your mistakes, and make informed decisions.
Every time you take a trade, plot it in your journal.
At the end of the week, go through the journal to see how your trades are looking.
Go through the open trades, to see how they’re performing.
Also maybe see if you need to make any adjustments.
Don’t neglect this crucial task.
Forget Setups
You might have written your trading setups for the week.
And then you don’t take them.
You’re procrastinating your success.
Be more accountable and responsible with the trades that are lining up.
Write it on sticky notes.
Put them on your fridge.
Set alerts on your trading and charting platform.
Set reminders on your phone!
Do whatever you need to to NOT forget the setups that are nearly ripe for the picking.
Neglect Self-Education and adaptation
As I’ve said often.
Trading is an adapting and ever-evolving game.
You need to:
~ Keep learning and revising
~ Be up to date with new markets
~ Adapt your strategies
~ Add or remove from your watchlists
~ Update yourself as a trader
Procrastinating on Diversification
If you’re only trading one type of asset, you might be in trouble.
You’re delaying portfolio diversification.
There are so many new stocks to apply.
There are new algorithms with indices, commodities, Forex and Crypto.
If they work with your system, diversify and hedge.
Don’t be a dinosaur and stick to what was instead of what there is!
Start researching other asset classes today.
Final words:
You’re your own worst enemy with trading.
Not any trader, analyst, company… You.
You need to stop procrastinating and start doing.
Only then you’ll see improvement, development and even mindset growth.
Let’s sum up potential reasons why you might be a mass procrastinator.
You Doubt Trades
Skip Trades
Skip Days
Forget Tracking
Forget Setups
Neglect Self-Education and adaptation
Procrastinating on Diversification
How AI will revolutionise the trading world – 14 WaysThe era of AI has unleashed in almost every aspect of our lives.
And I believe that there will soon be a seismic shift in financial trading with AI.
I feel it’s my duty to share some of the ways, we will incorporate, adapt and integrate AI into trading.
To explain in simple terms…
AI is a concept to teach machines, robots and computers how to perform human actions. And trading is just another element that AI will apply to.
Let’s start…
#1: AI Trading Bots
We’ve had EA (Expert Advisors), chat bots and machine learning when it comes to trading.
As AI adapts more into the financial world, they will be able to signal, alert and even optimise our trading strategies, risk management and financial profile.
#2: AI will alert more markets into our watch lists
Not all markets work with our trading strategies.
Right now we have to manually search for different markets to back, forward and real test.
Once AI adapts to our trading strategy, it will be able to pinpoint the most efficient and effective markets to include into our trading arsenal.
#3: Real-time risk management
AI’s rapid data processing will be able to identify our risk profile.
In the near future, it will be able to identify not only trading setups, but also the volume we’ll need to buy or sell to enter or exit a trade.
It will alert us when trades are ready to go and will ask us whether we want to go ahead and action the high probability trades (according to our risk management.
#4: Algorithmic automatic trading
Once we lay out the parameters of what we want our AI trading bots to do, they will be your employee.
They’ll be able to take action while you’re away such as:
Layout the chart setups
Plug in the trading levels (entry, stop loss and take profits)
Execute trades on our behalf
They will work for us, which will limit our time staring at screens.
#5: Sentiment Analysis: Read the market’s mood
This tool will help us identify who’s dominant in the markets.
Are the bulls or bears stronger.
It will then give us a gauge meter to tell us whether demand or supply is higher.
And this will help us make calculated decisions, based on our own trading analyses.
#6. Freeing humans from the grind
When AI takes over our trading, it will do all of the mundane tasks for us.
It’ll focus on:
What markets work best with the system
Which markets to remove from the watch list and
whether we are in favourable or unfavourable terrorist according to our system
This will free traders from spending hours behind a screen on the daily.
#7: Automation: Back and forward testing
When AI learns a system with the right parameters and criteria, it will be able to backtest for us.
It’ll be able to go through hundreds of trades in the past and will provide a full review of the stats and measures.
It’ll tell us the:
trades
of winners and losers
Win and loss rate
Average winner and loser per trades
Costs, risks and losses
Accumulation of profit and losses and more…
#8. Pre-emptive fraud detectors
AI doesn’t just detect fraud—it sniffs out all the unregulated and fraudulent type companies, brokers, market makers.
It also analyses the markets micro and macro analyses to see which companies are doing well, cooking the books and / or are red flags to buy or sell.
Its predictive capabilities will be able to save millions of traders from falling into financial trading traps and scams.
#9: Customizable AI trading assistants
Also, I bet we will see companies create their own trading assistants.
Similar to Siri, Alexa and Google.
You will have your own finance-savvy cousin ready to act on your trading needs.
Whether you want to trade, find setups, talk about tested systems, create new strategies, learn real time info about markets and instruments.
You’ll have your own AI trading assistant just call away.
#10: The rise of quantitative trading
Quant trading will soar to new heights.
AI will be able to crunch numbers and optimise strategies with high speed and precision.
This will make sense of complex financial models at lightning speed.
#11: Real-Time chart pattern identification
Eventually, AI will adapt machine and deep learning into charts.
We will finally see the day where market patterns, trends are identified on any time frame.
As they learn the bends, turns, vectors and consistency with the charts through predictive analysis from historical market data…
AI will adapt and learn to plot more accurate, recurring chart patterns and use them to predict future price movements on any market.
And AI will be able to scan hundreds of charts simultaneously and highlight significant patterns as they emerge. This will present high, medium and low probability setups for our trading.
#12: Past chart patterns predictive analyses
Not only will it identify real-time chart patterns.
It will also spot historical price patterns and insights that took place in the past.
This will help us to back test the systems and how they worked on particular markets.
AI will be able to identify the chart patterns that have proven to be most successful for that particular trader.
#13: Personalized and customised trading strategies
What if you have a new chart pattern you’d like to adapt into your analysis?
Well I’m sure AI will have the ability to learn, recognise and incorporate your chart patterns into the system.
This way you can personalise what chart patterns, candlestick patterns or strategies you would like customised to your style.
This means that each trader can have a unique set of chart patterns to look for, tailored to their trading style and risk tolerance.
This personalized approach can potentially enhance your trading performance and your profitability.
#14: Integration with other data sources
This will most likely be open-ended.
It’ll work via the network where AI will improve chart pattern recognition in financial trading by integrating with other data sources.
Imagine AI learns from millions of traders, millions of strategies, systems and new inputs.
I can only imagine that traditional manual chart pattern systems will be a thing of the past.
With the new set of systems, formation, price and volume data – we will see integration of brand new forms of analyses and strategies.
And this will bring a new era of financial trading.
Final Words and summary!
It’s all exciting and frightening at the same time.
Because with AI integration, we will see yet another shift in the algorithms and it’ll bring a new future for trading.
Only those who learn to adapt and evolve – will make it…
Let’s sum up all the AI elements that will we mentioned here.
#1: AI Trading Bots
#2: AI will alert more markets into our watch lists
#3: Real-time risk management
#4: Algorithmic automatic trading
#5: Sentiment Analysis: Read the market’s mood
#6. Freeing humans from the grind
#7: Automation: Back and forward testing
#8. Pre-emptive fraud detectors
#9: Customizable AI trading assistants
#10: The rise of quantitative trading
#11: Real-Time chart pattern identification
#12: Past chart patterns predictive analyses
#13: Personalized and customised trading strategies
#14: Integration with other data sources
12 Most Common Trading Myths - BUSTEDAs long as people lose money with trading (and that is like 98%) of the lot.
They will preach the bad word.
And this will lead to rumour which will create false beliefs - I.E Myths...
Well I've been trading for two decades and I'm going to put these myths to bed.
Let's go!
Myth 1: It’s a Get-Rich-Quick Scheme
Trading has long been shrouded in the myth of transforming anyone into an overnight millionaire.
But it’s an illusion. It’s what drives newbies and amateurs into the trading world.
And then a few months later, when they realise what it actually takes to grow an account.
They move to the next “best” thing.
Trading is a forever life-style that requires ongoing discipline and patience through strategic planning, knowledge and presteen execution.
And not to mention, it also involves periods of losses.
There are no shortcuts to wealth in trading, it’s a journey, not a sprint!
Myth 2: It’s Just High-Stakes Gambling
Trading is a form of gambling.
But strategic gambling.
It’s not like pulling the slots machine and having a chance of being right or wrong.
Or flipping a coin.
No, trading has an element of risk and reward control.
And it is based on nothing more than probabilities and comprehensive understanding of market trends, money management and analytical skills.
Unlike gambling, which is based largely on luck.
You have an element of control with the outcome. That’s through trading journals, back and forward testing and making stringent decisions.
Myth 3: More Risk, More Reward
Yes! If you risk more you’ll gain more.
But when you risk more, you can also LOSE way more.
With trading derivatives and leverage, you’re exposed to more than what you put in.
Sometimes 10 times, sometimes 50 and other times 500.
So, this alone should tell you how dangerous trading is.
When your portfolio goes to 0 – due to high risk – That’s it.
And many traders full port their accounts. And majority become the 98% losing stat of trading.
Stick to low risk, low return.
Keep consistent and the return will start adding up and you’ll reap the rewards in time.
Myth 4: Only the Rich Can Trade
The myth that trading is a club exclusive to the wealthy is just that, a myth.
Decades a go, you would have needed thousands to start trading and investing.
But no longer is that the case.
Some brokerages don’t even have a minimum with trading. You can start off with a demo or practice account.
As long as the competition and innovation picks up, trading will be cheaper, faster and more accessible.
Myth 5: Trading is Only About Buy low – sell high
Although this seems like a logical strategy.
It’s not the only way to profit.
Trading techniques like short selling allow traders to profit from falling markets.
Not only can you buy low and sell high.
You can also sell high and buy low.
Myth 6: More Trades Equal More Profit
Trading isn’t a game of ping pong.
You don’t just play as many times as you can in a day, to profit.
First, Overtrading can lead to rushed decisions, increased transaction costs, and significant stress. Patience often plays a crucial role in a trader’s success.
And second, it all depends on the market environments.
If the market is not trending, you can go long or short and still lose every bet.
Rember you still have to let the market move up or down a bit to make up for the trading costs!
And so you’re already at a disadvantage when you take a trade.
Sometimes the best move is to sit on your hands.
Neutral is also a position and a powerful position during certain periods.
Myth 7: Successful Trading Means Winning Every Trade
Even the most successful traders get knocked down by losses.
It’s the nature of the trading game.
What matters is the net outcome over a period of time.
Your job is to make sure the losses are small and the gains are bigger.
That way, even with a 50% win rate you’ll win and the profits will outweigh the losses in the long run.
Myth 8: Complicated Strategies Yield Better Results
You’ve heard of analysis paralysis right?
When you literally plant so many indicators on your chart it looks like a Jackson Pollocks Christmas Tree painting.
Complication does not equate to success.
You’ll learn that:
Too many indicators will conflict with each other.
You’ll struggle to back test a system.
You’ll struggle to find high probability trades.
You’re making it more complex than it needs to be.
And most important… You need to learn to KISS (Keep It Simple Stupid).
Often, the best trading strategies are the simplest.
What’s essential is understanding your strategy thoroughly and executing it consistently.
Myth 9: You Need to Monitor the Market 24/7
Thanks to stop-loss orders and other automated tools, you do not need to be glued to your screens all day.
The most important attention you’ll need to apply is trading layout, setup and execution.
Once you’re done and the trading levels are in place.
Go live, do something else.
Don’t be a nerd.
Enjoy life.
Trading requires attention, indeed, but a healthy balance is crucial to maintain clear-headed decisions.
Myth 10: Markets Are Always Rational
Markets, unfortunately, aren’t always rational.
Just like you learn in school. There is ideal and real ways of the world.
Sometimes, the market is one clusterfreak of confusion.
Correlations don’t work according to the book.
Trends don’t match up the micro and macro analyses of companies.
Good news doesn’t mean strong uptrends.
Markets are run by many, many, many other factors.
They can be swayed by demand, supply, algorithms, Smart Money, greed, panic, emotion, rumor, and corruption and manipulation.
This will lead to price distortions.
There is a famous quote attributed to Great Depression-era economist John Maynard Keynes –
“Markets can remain irrational longer than you can remain solvent”.
Myth 11: Brokers Want You to Lose Money
Yes there are a ton of brokers who make money when you lose.
But reputable, credible and top regulated brokers – do NOT want you to lose.
They make their money from brokerages, spread and from trading volumes.
They want you to succeed and grow. Because if you blow your account, they lose a client.
Hence, when brokers approach me I always tell them the importance of education, guidance and helping them SUCCEED.
Myth 12: Once a Successful Trader, Always a Successful Trader
Market conditions, strategies, and personal circumstances change.
If you want to be a successful trader and remain one it requires constant learning, adaptation, and diligent risk management.
This includes me!
Despite how long I’ve been in the markets, I treat each day independently. I follow my system, risk management rules. I look for future opportunities and prospects to improve my trading, platform, journals and even testing.
This is forever an alive game that requires action. We are always learning, growing, improving and adapting.
Like they say, past success doesn’t guarantee future profits.
Let’s sum up the 12 common Trading Myths:
Myth 1: It’s a Get-Rich-Quick Scheme
Myth 2: It’s Just High-Stakes Gambling
Myth 3: More Risk, More Reward
Myth 4: Only the Rich Can Trade
Myth 5: Trading is Only About Buy low – sell high
Myth 6: More Trades Equal More Profit
Myth 7: Successful Trading Means Winning Every Trade
Myth 8: Complicated Strategies Yield Better Results
Myth 9: You Need to Monitor the Market 24/7
Myth 10: Markets Are Always Rational
Myth 11: Brokers Want You to Lose Money
Myth 12: Once a Successful Trader, Always a Successful Trader
Can you think of anymore?
5 Ways to Improve your Trading - WORTH THE READYou’re going to need a cup of coffee or two for this one.
It is my longest trading article I’ve ever written.
I’ve written it because I care about you and I want you to succeed.
So, please take the time to read this and save it for the future.
Or if you don't have the time then at least go to the bottom to see the highlights of the article...
Enjoy and trade well!
Part 1 – EXPERTISE
Choose your markets wisely.
There are so many different markets to choose from, that you need to upper your knowledge.
Whether it’s understanding market, assets, securities and instruments – you need to have basic knowledge.
Here are some to consider…
#1: New ETFs (Exchange Traded Funds)
Exchange-traded funds (ETFs) are a popular way to invest in a diverse range of assets.
If you want to improve your expertise in ETF trading, stay informed about new trends and opportunities in the market.
Keep up to date with the latest developments in the ETF industry, such as new ETFs being introduced, and be aware of market trends and movements that may affect your trades.
#2: New AI Tech Companies and Technology
Artificial intelligence (AI) technology is revolutionizing many industries, including finance.
To stay ahead of the game in financial trading, be sure to keep up to date with new AI tech companies and technologies.
See what Google, Open AI (ChatGPT, Dallee), Apple and Meta are doing.
Even some crypto AI companies.
Familiarize yourself with the latest innovations in the field, and consider investing in companies that are developing or utilizing AI technology.
#3: Electric Vehicles
Electric vehicles are an emerging trend in the automotive industry.
Even in Greece and Europe, we are seeing more Teslas on the road and electric garage stations.
And they are expected to have a significant impact on the global economy, environment and with the automotive sectors.
Stay up to date with the latest news and developments in the electric vehicle market, and be aware of how it may affect your trading strategies.
#4: Space Tourism
Space tourism is a new and exciting industry that is attracting significant interest from investors.
Keep an eye on the latest developments in the space tourism market, including new companies (SpaceX, Virgin Galactic and even Amazon technologies.
#5: Metaverse
The metaverse is a virtual world that is becoming increasingly popular, and it is expected to have a significant impact on the way we live and work.
They are here to stay, improve and evolve. From virtual reality, augmented reality and a mixture of both.
Get yourself a Quest headset (or wait for the Quest 3) and see the new opportunities in the space. Don’t get left behind.There are many other areas of expertise of industries that you should be aware of.
Just do a bit more research and incorporate them into your trading and investing lives.
Part 2 – TIME
Time is all we have.
It’s also something you can’t get back but it’s something you can utilise and take advantage of.
With trading, you need to use your time wisely,
In this part we will talk about how you can improve on this aspect.
#1: Be Punctual
One of the most important aspects of successful financial trading is being punctual.
Be sure to arrive at your trading desk or platform on time.
Be ready to take action when the markets open.
Be prepared for when trading opportunities align and when they are ready to execute.
Don’t miss these opportunities, because it just takes ONE big one to take your portfolio out of your drawdown and in the green.
#2: Don’t Miss a Day
Missing a day of trading could lead to missed opportunities and lost profits.
Be sure to stick to your trading schedule and avoid missing any trading days.
And if you miss a day, make up for it the next day. Spend extra time on analyses, execution and even during your evaluations and tracking of your portfolio.
#3: Set a Reminder
To help you stay on track with your trading schedule, set a reminder on your phone or computer.
Even better. Set an alarm for when you know you need to trade.
Time slips by so quickly and we can get distracted in the day.
How many times have you forgotten to have lunch, drink water and miss your favourite TV show?
Use your timer and set reminders with trading. This will help you to stay focused and ensure that you don’t miss any important trading opportunities.
#4: Sticky Notes
Sticky notes can be a helpful tool for staying organized and focused when trading.
Use sticky notes to remind yourself of important dates, deadlines, trading setups, ideas and trading strategies.
Also use sticky notes to maybe have a plan on what you need to do as a trader that day.
They help and are great to bring to your notice with the actions you got to take.
Part 3 – ACTION
Without action, it stays a dream.
Without action, it stays an idea.
Without action, it stays a what if…
You need to DO instead of SAY.
You need to ACT.
That’s what this is all about with improving another area with your trading.
#1: Place Your Trading Levels
Don’t just look at what is lining up.
Write them down on sticky notes.
Have them all drawn up on your charting platform.
And make sure EVERY detail, trading level and reason is somewhere you can see.
Then you have no other choice but to set your trading levels carefully.
Or if you need to adjust them as necessary to reflect changing market conditions and lock in gains where you can.
#2: Prepare Your Trading Setups
You need to prepare your trading setups carefully.
This will help you to stay organized and focused when trading.
Set up your trading platform, charts, and other tools before you start trading to ensure that you are ready to take action when the markets open and eventually hit your desired levels to action.
#3: JUST TAKE THE TRADE
High probability setup – tick.
Trading levels in place – tick
Risk analyses and volume analyses all according to plan – tick
As I like to say JTTT – Just Take the Trade!
Taking action is the most important part of successful financial trading.
Don’t be afraid to take a trade when the opportunity arises, but be sure to do so with caution and careful consideration of the risks involved.
Part 4 – VISION AND GOALS
We all have our desired goals and vision in place.
Or else why would we do it? Right?
With trading, we have a game plan.
And when we have a solid plan with a proven track record, we can almost see into the future of the outcome.
But you need to write them down.
You need to have realistic targets and goals.
You need to incorporate the downside and drawdowns as well.
And you need to remember, to achieve these – you have to take additional steps such as…
#1: Deposit more money
One way to improve your financial trading results is by depositing more money into your trading account
However, this does not mean that you should invest all your savings.
It is essential to balance your investments and diversify your portfolio to minimize risk.
Maybe you want to deposit 5% per month. Or maybe you want to just deposit one fixed lump sum, to start growing your account.
Be sure to evaluate your financial situation and set realistic investment goals that align with your financial capabilities.
#2:Be responsible
Being responsible is crucial in financial trading.
You need to be disciplined in your trading activities and avoid making impulsive decisions.
Stick to your strategy and stay true to your long-term goals.
You should also ensure that you have a clear understanding of the risks involved in financial trading.
#3: Eye on the sexy prize
Short-term gains can be tempting – I get it.
We are seeing the future before we are dealing with the present.
And this is dangerous in the short term.
It might feel slow, unprogressively and not as amazing as you thought after a year.
But with compounding, eventually you will feel the success, triumph and true potential of trading power.
But it is essential to focus on long-term growth and wealth potential.
Be prepared to hold onto your investments for an extended period, even if there are temporary fluctuations in the market.
#4: Focus on growth and wealth potential
It is crucial to have a clear understanding of your long-term goals and make informed decisions based on them.
If you want to grow your wealth, you need to be patient and take calculated risks.
Diversify your portfolio and invest in assets that have long-term growth potential can help you achieve your financial goals.
Part 5 – ATTITUDE
Now it’s up to you.
You have to face the elements of trading.
The winners.
The losers.
The drawdowns.
The insane winning streaks.
The slowdowns.
The sideways going nowhere.
This all can mess with your emotions. Hence they say don’t ride the emotional rollercoaster.
So let’s fix your attitude shall we?
#1: Biggest mental enemy is – YOU
Your mindset plays a significant role in your trading success.
The biggest mental enemy in financial trading is you.
It is easy to get caught up in emotions such as fear and greed.
This can lead you to taking impulsive and revengeful trades.
This can lead to you giving up during the bad or slow times.
To overcome this, you need to have a clear understanding of your emotions and how they can affect your trading decisions.
#2: Stop celebrating winners
Avoid celebrating them excessively.
Great you won some money! But what about the next trade? What about next month. What about next year.
You are only as good as your last trade. And when you banked a winner, you need to focus on the next trade and let by-gones be by-gones.
Celebrating your wins can lead to overconfidence, which can be detrimental to your trading success.
Keep level headed at all times. Especially during successful trades.
#3: Stop crying over losers
Similarly, you should not dwell on your losses.
Losses are part of the learning process.
They can help you identify areas of improvement in your trading strategy.
Instead of crying over losses, focus on learning from them and making informed decisions based on your trading plan.
Also, go back to your track record. Go look at the biggest drawdowns you had and how you overcame them when the market went into a better environment.
That will stop you crying over losing a bit of money.
Besides, losing money is not a loss. It’s simply a cost of trading.
Think of it like that and you will never feel another loser again.
#4: Be long term oriented
Financial trading is a long-term game.
To be successful, you need to have a long-term mindset and a strategy that aligns with your long-term goals.
I’ve told you many times. It’s not about the one trade but the hundreds of trades later.
Just keep to your discipline, follow the plan and strategy and you’ll see it pay off in the long run.
#4: Stop thinking of instant successes
Financial trading is not a get-rich-quick scheme.
You cannot expect instant success or overnight riches.
Instead, you need to be long-term oriented and take a strategic approach to your investments.
It would help if you were patient and persistent, even when faced with setbacks or losses.
5 Areas to Improve!
We’ve come to the end of the 5 part – Areas you need to improve with trading.
What a pleasure it’s been.
I’ll sup up everything below so you can have a quick reminder what you need to work on.
EXPERTISE
#1: New ETFs (Exchange Traded Funds)
#2: New AI Tech Companies and Technology
#3: Electric Vehicles
#4: Space Tourism
#5: Metaverse
TIME
#1: Be Punctual
#2: Don’t Miss a Day
#3: Set a Reminder
#4: Sticky Notes
ACTION
#1: Place Your Trading Levels
#2: Prepare Your Trading Setups
#3: JUST TAKE THE TRADE
VISION AND GOALS
#1: Deposit more money
#2: Be responsible
#3: Eye on the sexy prize
#4: Focus on growth and wealth potential
ATTITUDE
#1: Biggest mental enemy is – YOU
#2: Stop celebrating winners
#3: Stop crying over losers
#4: Be long term oriented
#5: Stop thinking of instant successes
If you found this helpful let me know in the comments.
Remember to stay disciplined, be patient, and keep your eyes on the long-term prize.
J.T.T.T
Top 10 AI Stocks to Trade and add to Trading View WatchlistAI is definitely one of the key words for the century.
And yes, I believe these are great companies to add to our watchlist to trade. ANd Trading View has all of the companies to analyse their movements. .
We could even see AI companies being some of the safe-haven stocks to invest in 2024…
Here are my top 10 companies that are incorporating AI into their businesses and ones I'm trading lately.
1. Microsoft (MSFT):
Develops, licenses, and supports software, services, devices, and solutions.
2. Advanced Micro Devices (AMD):
Designs and sells computer processors and related technologies.
3. NVIDIA (NVDA):
It designs graphics processing units (GPUs) for gaming and professional markets.
4. Palo Alto Networks (PANW):
Offers cybersecurity solutions and firewall technology.
5. Customer Relationship Management (CRM):
This is a strategy that companies use to manage interactions with customers and potential customers.
6. Meta Platforms - formerly Facebook – (META):
Operates social media and virtual reality platforms (e.g., Facebook, Instagram, WhatsApp, Oculus)
Note: Oculus 3 Headset is coming out next year and it’s going to include and introduce Augmented Reality to the world.
7. Palantir Technologies (PLTR):
Develops data analysis software and provides data integration and analytics platforms.
8. Adobe Inc. (ADBE):
Creates software products for content creation, multimedia, and marketing.
9. Apple Inc. (AAPL):
Designs and markets consumer electronics, computer software, Virtual Reality and online services.
10. Micron Technology (MU):
Micron Tech. inc. designs, develops, manufactures, and sells memory and storage products worldwide
I have an entire watchlist just saying AI STOCKS...
There isn't an Index yet, so I'm watching them and trading accordingly.
3 Risk Actions to take in a Sideways Market
“Do you have any risk or money management rules you take, during a Sideways Market or Twilight phase? I want to be more cautious with my trading.”
These actions, no doubt, will help us protect and preserve our trading accounts.
Action #1: Drop your risk even more
If you’re feeling uneasy with the markets, as many have – drop your risk.
You can even drop your risk to a range of 0.5% to 1% per trade, as opposed to the usual 2%.
This will keep you in the game, so you don’t miss out on any moves.
Action #2: Hegde your portfolios
I consistently employ hedging strategies, both Longs and Shorts.
For example, you can go long stocks and short gold as a hedge.
Or you can go long Bitcoin and short Ethereum as a hedge.
As long as your losses are smaller than your winners, then your winners will outweigh.
And this will help keep your portfolio in check.
Action #3: Diversify
The JSE ALSI 40 isn’t the be all and end all of trading.
You need to learn to diversify into other markets.
I’m talking about Forex like EUR/USD, Indices, and even intraday trades.
How to Adapt to the Ever-Evolving Financial Markets – 4 WaysThe only constant with the financial markets is…
Change
The market is constantly changing in a way that it’s bringing:
New demand
New supply
New volume
and fresh changes in the complex algorithms.
If you want to thrive you need to learn to learn to adapt, evolve and grow with the markets.
I want to cover four elements to today’s topic.
The Inevitability of Market Change
Change is not only constant but inevitable in financial markets.
There will always be new elements streaming into the markets from:
Global and political events
Micro and macro aspects
Economic indicators
Regulatory shifts, and
Investor sentiment
These elements are perpetually at work, shaping and reshaping the market.
These catalysts can shift the trajectory of entire sectors, leading to volatile market movements.
Influx of New Volume on Market Dynamics
Every day, the market sees a deluge of new volume.
There are new traders and investors constantly joining the financial markets world.
And we are seeing an inflow of capital from retail traders, institutional investors, and high-frequency trading firms.
The big institutions like Smart Money (banks, hedge funds, brokers etc…) are causing the big volatile moves in the market.
The smaller guys – dumb money and retail traders – are also helping with liquidity in the markets.
Every transaction is causing a shift in the market. No matter how small it’s the “Butterfly Effect of the financial market”.
The Role of Algorithms in Market Evolution
In the era of digital transformation, algorithms have become a pivotal part of the financial markets.
Algorithmic trading or ‘algo-trading’ employs complex mathematical models to execute trades at lightning speed and frequency.
I’m talking about Copy Trader, Robinhood, AI trading bots, EA Expert Advisors and pre-determined automatic mechanical trading methods.
This practice is now an integral part of the trading landscape.
And they will continue to have an influence in price action, and market patterns.
Haven’t you noticed?
In the 50s through to the early 2000’s. The markets trended on a more consistent basis.
Any monkey could choose a list of good stocks and hold them until they were up 200% – 1000%.
But nowadays with derivatives, algorithms, shorts and automatic execution – markets have never been more volatile and more difficult to ride the trends.
Always Adapt to Thrive in Changing Markets
It’s our job to learn to be more flexible and to adapt to these market conditions.
As markets evolve, so must we evolve with them.
We need to always:
Apply new markets to our watchlists
Look for better trading instruments
Change the trading strategy to make it more conducive with the environments
Always look for the next best broker, trading and charting platform
Look for ways to reduce costs and maximise profits.
I’ll end off with this.
The market is constantly changing, adapting and evolving.
We need to embrace the change and not see it as a threat.
Have this mentality and you’ll always have the opportunities to improve, anticipate and grow as a trader.
What is a REIT and how do they work?A. Let’s start with the basics:
REITs stands for 'Real Estate Investment Trusts'.
These are essentially property companies that are listed on the stock market which you'll find pretty much most of them on TradingView.
So how do they work?
Step 1: An individual decides to invest in a REIT company.
Step 2: The money is then collected into a large pool (like all trusts).
Step 3: The pooled money is then invested into the property that the company either owns, operates or finances.
Step 4: Over time the company starts to make revenue and profit.
Step 5: The profits are then accounted and collected.
Step 6: The profits are then distributed in parts to the initial investors who
helped finance the company through a REIT.
Sounds great in theory…
But in reality, there is always a catch…
And that catch is timing.
The Big five SA Reits have lost over R100bn in value since 2018.
The BIG five REITs are:
1. Growthpoint
2. Redefine
3. Resilient
4. Vukile and
5. Hyprop.
Of course, this could be seen as an opportunity but there are several other factors we need to consider before deciding the best time to trade this type of asset.
A trick will be to overlay the five companies on a chart. See how they move and operate in conjunction to each other.
And then we can decide which are buys or sells.
Apples with apples.
Why It Pays to be a Patient Trader – 10 PointsPatience, passion and persistence.
The three Ps of what it takes to make it as a trader.
We like to say 5% is action and 95% is waiting.
And that’s why I’ve written a complete guide to being a patient trader.
Let’s start…
No Impulsive Decisions
Impulsive decisions are the bane of any trader.
The market is known to be volatile, jumpy, fickle and are prone to make sudden swings.
These swings can cause panic, fear and can lead to really poor trading choices.
If you have the patience to wait for your setup, the right market environment and for your trade to play out – you’ll stop the impulsive and emotional decisions.
Wait for the right and conducive market conditions
Many trading systems are designed to work optimally under certain market conditions.
For trend, momentum, and breakout traders – we need to let the market move and continue to move in the directions.
Patient traders will need to continue taking their trades, when the system lines up.
And only when the environment is right, will they make money.
That’s why you need to learn to risk little with the losses.
And when the winners kick in, they’ll make up for the dips and will help your portfolio flourish eventually.
Spot only the high and medium probability trades
Don’t be a rash trader.
When you jump with every opportunity you can.
There are low, medium and high probability setups.
Wait for only the high and medium probability trades.
Skip the low probability trades that align or risk very little (0.5%).
Only trade those that align with your system’s strength and exhibit strong, favourable signals.
This will help boost your win rate and drop the chances of loss.
Hold onto winners
To grow your portfolio, you need to let your winners run.
Let the great trades, run their course.
Many traders, especially beginners, often exit winning trades too soon due to fear of a reversal.
They also exit quickly as they don’t want to take the trade to turn into a loss.
And as a result, they bank a measly gain.
A patient trader understands that great profits are made when you ride the big trends.
This will require you to resist the urge to close a winning position prematurely.
Wait it out
A trader must sometimes wait:
Wait for a setup to come to fruition.
Wait for the trade to play out.
Wait for unfavourable trading periods to end.
Emotional stability
While you’re being patient.
Cut out the emotions.
That feeling of ants in your pants. Rather learn to maintain emotional stability, and avoid the emotional highs and lows.
Your trading should not feel like an emotional rollercoaster. Just do your job and treat it as a job.
Not as the lottery. Not as a gamble. Not as a be all and end all situation.
Don’t let anything cloud your judgement that can lead you to trading bad.
Master your trading strategy
Just because you have a trading strategy and gameplan.
Does not mean, you know how it works over the long haul.
A patient trader takes time to master their trading strategy.
Back, forward and real test the strategy carefully.
Trade them on different markets. See how they work taking into account the costs (brokerages, daily interest charges and even spreads).
Know how the game-plan works in all different situations and environments until you are consistent and have a proven and tested methodical execution.
Avoid overtrading
Patience helps traders avoid overtrading.
This is a common pitfall where too many positions are taken.
You have to stop revenge trading (to make up for losses).
You have to stop over trading (to try make more gains in a day).
Stick to high probability trades, a careful selection of markets and the best times to trade.
Learn from mistakes
The main time you’ll actually learn, adapt and grow as a trader – is through your mistakes.
When you make a mistake, do not sweep it under the rug.
Take the time to write them down, screenshot them and jot down a memo to yourself about these mistakes.
When you learn from them, it will prevent you from making them again and you’ll even be able to refine your strategy to avoid them.
Develop discipline into integration
Patience cultivates discipline.
That is trading well every single day or week.
Once you adapt into a routine and you have the discipline to act accordingly.
Then you will enter into a lifestyle integration.
You won’t think twice. You won’t need anything to motivate you to trade.
You will just trade well like you brush your teeth, sleep or eat everyday.
Once you have integration, there’ll be no need for motivation.
Summary
Patience in trading is a trader’s virtue.
It is an essential strategy for you, if you wish to attain long-term success in the financial markets.
Here are the key points we mentioned in this complete patience guide.
No Impulsive Decisions
Wait for the right and conducive market conditions
Spot only the high and medium probability trades
Hold onto winners
Wait it out
Emotional stability
Master your trading strategy
Avoid overtrading
Learn from mistakes
Develop discipline into integration
Become a Trading Machine – 11 Ways!If you want to trade well and consistently.
You have to be more mechanically orientated.
I’ll be literally quick and brief.
Saying “literally” was unnecessary and made it longer.
Sorry.
Here are the pointers:
1. Stay committed
2. Cultivate patience
3. Avoid herd mentality
4. Be long-term oriented
5. Stop crying over losers
6. Review your performance
7. Stop celebrating winners
8. Adapt to market conditions
9. Keep your emotions in check
10. Don’t think of quick success
11. Adapt and advance with technology
Are there any ways you take to be a trading machine?
Let me know!
PUT TO BED: Trading VS GamblingIt’s a big debate that runs the financial market.
Is trading gambling?
Well I’m going to try put it to bed in just a few sentences.
There are two types of gambling.
Gambling by chance and total randomness like slot machines, lotteries, Bingo, Wheel of Fortune and flipping coins.
And strategic gambling which allows you elements of control of coming out with a probabilistic chance of winning.
I believe trading is a form of strategic gambling.
Let’s talk about the similarities between certain strategic gambling games and see how we can learn from them with trading.
Game #1: Trading and Poker: Skill, Strategy, and a Bit of Luck
In poker, each player gets a unique hand of cards.
To win, players must devise a strategy based on their understanding of the game, their observation of their opponents, and their willingness to take risks.
Players can choose to play, bet or fold.
The same principles apply to trading.
Traders have their ‘hand’ in the form of markets to choose to trade.
To yield profit, they must understand market trends, observe competitors’ behaviours, and manage risks.
In poker, one needs to know when to fold and when to bet aggressively.
In trading we have stop losses to get us out of the trade.
We have take profits to bank our wins.
We have volume choices of how much to buy or sell.
And we have the choice to stay out completely.
Poker also teaches the importance of emotional control and patience, which are crucial in trading, where emotional decisions can lead to significant losses.
Game #2: Trading and Roulette: Understanding Probabilities
Roulette is largely a game of chance where players bet on numbers, colours, or sets of numbers.
You choose whether you want to bet on red, black, even, odd, specific numbers and so on…
Although the outcomes are random, players can use probability to guide their decisions.
In trading, while certain market movements can’t be predicted with absolute certainty, we rely heavily on technical, fundamental, statistical analysis and probabilities to make trading decisions.
Trading, much like roulette, is where you need to diversify your positions and bets.
But instead of placing chips on certain numbers, we place deposits (margins) in the hopes of a probable outcome.
Game #3: Trading and Blackjack: Playing Against the Market (House)
Blackjack involves strategic decisions, where players decide to ‘hit’ or ‘stand’ based on their current hand and the dealer’s visible card.
The main goal is to try and get the cards we’re dealt to hit 21, be close to 21 or be closer to 21 than our opponent’s hand.
Bet too high past 21 and you burn.
In trading, technical analysis serves a similar purpose by predicting future market movements based on past data.
Bet too high with trading and you stand to lose a lot more.
And if you can’t count with Black Jack, then you have a much bigger disadvantage to the game.
If you don’t have strong and stringent money management principles, then good luck trying to maintain, preserve and protect your portfolio.
Game #4: Trading and Horse Racing: Know your horse!
Horse racing involves choosing the right horse based on its:
Form
Characteristics
Conditions of the race
Weather on the day
and other factors.
This is like trading. You need to understand each market you trade.
It has its own personality, form, movements, and style.
You also need to know which market is conducive for your trading portfolio.
And you need to choose the right stock or asset to trade based on its performance history, current market conditions, and other factors.
In horse racing, experienced bettors also diversify their bets across multiple races and horses to spread risk.
With trading we diversify our portfolios over different accounts, markets, sectors, instruments and types.
Game #5: Trading and Sports Betting: Predictive Analysis and Risk
Sports betting also works similar to trading.
You need to know how to analyse a team’s or player’s form, weather conditions, home and away records, and more to predict an outcome.
Whether it’s football, rugby or cricket – you need to know your team players, strategy and likelihood of who is to win what game.
Traders also conduct similar analyses, studying companies’ financial health, market trends, and technical indicators to predict market movements.
And as always, there are both risks that need to be calculated and managed for high probability successful outcomes.
So next time when someone tells you trading is just gambling. You tell them, they are right but it’s strategic gambling rather than gambling by chance.
The Mind of an Ego Trader – 10 ActionsWe always hear of the two most dangerous states of trading.
Fear and greed.
But I think there is one more state, that really drives a trader to financial collapse.
EGO.
Ego is thinking you’re always right where you ignore risk and caution.
It’s the voice in your head that tells you to make risky choices because you believe you know better.
To overcome being an ego trader, we need to go inside the mind of one.
Let’s start…
Ego traders overtrade
One of the most common pitfalls of ego trading is overtrading.
This is the act of buying and selling markets way more than you should.
They believe that the more they trade, the more profits they will make.
Solution:
Adopt a well-defined trading strategy and stick to it. You need to know how and where to enter your trades with strict risk management.
Remember, quality should always be prioritized over quantity.
Ego traders like to revenge Trade
Ego traders refuse to be wrong.
They’ll take a trade in one direction, bank a loss.
And then immediately get in again, but in the opposite direction – to make up for losses.
Their goal is not to trade well but to recoup any losses ASAP.
This behaviour is often driven by the ego’s inability to accept a loss. And this will drive them crazy until they blow a big portion of their account.
Solution:
Acceptance is key.
Every trader is going to take losses.
You need to take the loss (see it as the cost of trading), and come back the next day.
Take a step back, analyse the situation objectively, and stick to your trading plan.
Ego traders ignore risk management
Egotistical traders think like this.
“I want to grow rich quickly and refuse to only bank 3% to 4% of my portfolio per trade”.
They instead risk 5%, 10% and sometimes go full port.
They have this invincibility complex, that the more money they risk the more likely they’ll build their account quickly.
But this is reckless and your portfolio won’t last long. This will often lead to disproportionate losses.
Solution:
I sound like a parrot by now.
Always adhere to your risk management rules.
Determine your risk tolerance, set risk-reward ratios for your trades, and never risk more than you’re willing to lose on a single trade. You know this!
Dismiss Market Analysis
Ego traders are emotional.
They mainly trust their feelings, their jiminy cricket voices and their instincts over solid and proven market analysis.
This will obviously lead to discretionary trading decisions, which will eventually lead them with no strategy, no discipline, no rules, and no portfolio.
Solution:
Become a trading machine.
Think like a robot and always base your decisions on thorough market analysis.
This includes both technical analysis (price trends, indicators, etc.) and fundamental analysis (economic, financial, and other qualitative and quantitative factors).
Ego traders blame everything
Ego traders often blame the market, their broker, their children, the media, or unexpected news for their losses.
You need to grow up and take on the mature approach. Every financial decision and action you make, is solely your responsibility.
Solution:
Take responsibility for your actions.
Understand that the market is unpredictable and losses are a part of trading.
Don’t trade if you’re feeling distracted,
Don’t trade if you’re feeling you’ll blame something or someone.
Learn from your mistakes and learn to humble yourself before the market does.
Ego trader are trend top and bottom pickers
These are the guys that literally try to ‘predict’ bottoms or tops.
They go against the current trend, and instead guess that the price will turn from here.
They give you every reason why the market will turn.
They know privy info that no one else does (even though all info is in the public domain).
They know strategies and indicators that make these predictions (even though all indicators are based on past data).
They see and feel out of their asses about change in trends.
And when they’re wrong (which most times they are), they find every reason, news event and indicator to guess when the market will turn.
This usually results in entering at a bad price and subsequently facing a huge loss.
Solution:
Leave the tops and bottoms.
Seriously, ignore the first 10% of the bottom. Leave 10% of the top.
Claim the 80% market move when the trend has confirmed and is showing strong momentum.
Enjoy going with the trend not against it.
Ego traders over leverage
It confounds me that traders want more leverage.
They show off about 20 times, 50 times up to 500 times.
You know what that means right?
You can lose 20, 50 or 500 times the money you put in.
Leverage is a double-edged sword.
You desire the big wins and only think of the big wins.
When then you are wrong (and you will be), you end up losing a colossal amount.
Solution:
Use leverage responsibly.
Lower the leverage, the better you can manage your risk and reward management.
Ego traders disregard stop losses
Stop losses are designed to limit a trader’s loss on a position.
However, there are two types of ego traders.
The ones that trade naked (without a stop loss) and the trade goes heavily against them where they lose their hat.
Then there are the ones that put in their stop loss. But then they move their stop loss FURTHER away where they can risk more.
Once this happens, they marry into their trade.
And they’ll keep moving the stop loss away again and again and again and then BOOK.
Gone.
Solution:
First rule – Always set a stop loss.
Second rule – NEVER move your stop loss where you can risk more.
Super important.
Ego traders dismiss discipline
They have major commitment issues.
They choose their days and times.
They trade now and then when they feel like it.
And this dismisses the discipline of taking every trade, one needs to take to build a consistent portfolio.
Solution:
See trading as a business. See trading as a job.
See your trading strategy as your boss.
Work accordingly like your life and livelihood depends on it.
Discipline is key in trading.
Maintain your discipline and eventually it’ll turn into integration.
Then you’re sorted.
Ego traders fail to adapt
The market is constantly changing.
There are always new markets.
There are always new platforms.
There are always new brokers.
There are always new innovations and features.
And yet ego traders, stay put.
You need to learn to adapt to market changes.
You need to constantly update yourself as a trader, your strategy, your watchlist and stay with the times.
With discipline, a clear plan, and a bit of humility, traders can better navigate the markets and improve their chances of success.
Let’s sum up the Mind of an Ego trader so you know how to overcome it.
Ego traders overtrade
Ego traders like to revenge Trade
Ego traders ignore risk management
Dismiss Market Analysis
Ego traders blame everything
Ego trader are trend top and bottom pickers
Ego traders over leverage
Ego traders disregard stop losses
Ego traders dismiss discipline
Ego traders fail to adapt
20 Trading Checklist in 2024In just two months, we are coming to the end of 2023.
If it's been a year of learning to trade and getting to grips with everything.
Then I have a 20 Trading Checklist for you to kickstart 2024.
Print it, save it and repeat this whenever you need a Jimney Cricket by your trading side.
You go this!
Love what you do
Trust the process
Never miss a trade
Don't fall for scams
Ask trading questions
Don't allow distractions
RE-evaluate your watchlist
YOU CAN ONLY GET BETTER
Celebrate taking each trade
Never extend your stop loss
Stop overthinking everything
Save 15 minutes a day to trade
Boost your trading knowledge
Screenshot every trading setup
Find the best time that suits you
Only follow your trading signals
Journal and jot down every trade
Follow your own trading time-line
Accept when market trends change
Deposit money to trade every month
Let me know if this helps.
T
When You Should NOT Trade! 11 Reasons to Take a Step BackYou have two choices each day you open your trading platform.
To trade or not to trade.
There are circumstances that will rise where you won’t trade for that day. Then there are times where you should NOT trade at all. And then there are situations where you need to avoid trading.
You know when to trade. Now here are a couple of 11 reasons to take a step back with trading.
After a bunch of knocks
After you take a couple of losses, it might feel natural to want to jump right back in.
You don’t want to lose.
You want to recoup your losses.
You want to ride the prominent trend.
You have to learn to resist this temptation. Whether you buy or sell, if the market is in a bad state or environment – you’re likely to lose your positions.
So take a step back and come back tomorrow.
The peril of revenge and impulse trading tendencies
I’ve told you many times.
Any occurrence where you are NOT following your proven strategy is deadly.
Revenge and impulse trading (to try and make up for any losses) is a dangerous path.
Not only for the day.
But it scars and sets a precedent for you to do it in the future.
In the medium term, it’s a surefire way to harm your portfolio.
Learn to recognize and control these tendencies.
Rather take a step back and come back, the next day, with a more rational and logical approach.
The absence of clear setups
If you don’t have any high probability trades that have lined up, forget trying to take a trade.
This is like sailing with a destination in mind without a compass.
Trades will come. The markets will always be there for you tomorrow.
So wait them out…
Emotional instability
Emotions when trading are a dangerous trait to have.
Anxiety, excitement, ego, fear, greed or distress can cloud your judgment.
If you’re emotionally unstable, you need to take a step back and learn to control your emotions.
Drop your risk, ‘till you no longer feel a loser or winner.
Continue backtesting until you regain your confidence.
Refrain from trading until you learn to balance your emotions.
Can’t afford it – forget it!
If the funds you’re using for trading are essential for your survival or well-being, this is a red flag.
You are going to be highly dependent and emotionally attached to your funds.
I say it over and over…
Do not trade with money you can’t afford to lose.
It creates an unhealthy pressure that can influence your trading decisions.
Don’t know it – Don’t trade it.
If you lack a solid understanding of markets, methods or money management – you’re not ready to trade.
You need to understand the above along with the market dynamics, the costs and process of instruments and how your trading and charting platform works.
Education is key here. Learn, learn, learn.
When you have less questions and more answers, then it might be a better time to take the trade.
Low probability setups
When the market is moving nowhere slowly.
Or the markets are moving wildly with high volatility – this might be a time to not trade.
The risk and uncertainty of the market is high.
And this will result in only low probability trade setups lining up.
If you really want to trade them, because you have nothing better to do – fine.
But at least risk LESS.
Risk between 0.5% to 1% of your portfolio instead of the full 2%.
When exhausted, ill or mentally unstable
Physical well-being also plays an important role.
Your mental state affects your trading performance.
If you’re not in the right mindset, consider taking a break.
Avoid trading if you’re not feeling well, exhausted, angry, or you’re feeling unstable.
Get your mind right, recover and see the markets with healthier and happier eyes.
That made sense to me :/
No clear setup
Sometimes, you might analyse the markets.
And you’ll see nothing.
Then, you’ll re-analyse and look EXTRA carefully.
You’ll look and look and look until, somehow a trade presents itself.
I’m telling you now, this is a dangerous time to take the trade.
A trade should stick out like a sore thumb (according to your strategy).
If it doesn’t, then you’re trying to see something that most likely is NOT There.
Trade based on sound, proven and strong analyses, not via imagination and hope.
During major economic announcements
This point is more related and significant to Forex traders.
If you see a high impact economic announcement, report, meeting etc…
It might be a good idea to take a step back, and skip trading for the day.
I’m talking about NFP, Unemployment, GDP, FOMC, Interest and Inflation rates etc…
Without a trading plan
A well-crafted trading plan is your roadmap.
It’s your game-plan to make a probability prediction on a potential outcome.
You need to eat, breath, shower and sleep with your trading strategy.
If you don’t have one, don’t trade until you develop a plan and are ready to stick to it.
Right so, now you now when to take a step back and NOT trade.
I’ll sum them up here for you…
After a bunch of knocks
The peril of revenge and impulse trading tendencies
The absence of clear setups
Emotional instability
Can’t afford it – forget it!
Don’t know it – Don’t trade it.
Low probability setups
When exhausted, ill or mentally unstable
No clear setup
During major economic announcements
Without a trading plan
Learning from Mistakes: The Path to Trading Mastery 📈📚🛠
Mistakes are an inevitable part of a trader's journey. What sets successful traders apart is their ability to not only acknowledge these mistakes but also to study and learn from them. In this comprehensive guide, we'll explore the art of dissecting your trading mistakes, understanding their origins, and using them as stepping stones towards trading mastery. Join us on this enlightening journey, enriched with real-world examples and practical insights.
Mastering the Study of Trading Mistakes
Embracing Imperfection 🙌
To become a successful trader, one must first accept that mistakes are an integral part of the process. Mistakes provide invaluable lessons and opportunities for growth.
Overleveraging
Ignoring Stop Loss
The Art of Mistake Analysis
1. Identify the Mistake: The first step is recognizing what went wrong. Was it a poor entry, impulsive decision, or neglect of risk management?
2. Examine the Context: Understand the market conditions, news, or emotions that led to the mistake.
3. Quantify the Impact: Assess the financial and emotional impact of the mistake. How did it affect your trading account and mental state?
4. Learn and Adapt: Use the mistake as a source of knowledge. Develop strategies or rules to avoid making the same error in the future.
Mistakes in trading are not failures but stepping stones to success. By studying your errors with a critical and open mindset, you can extract invaluable lessons that propel you toward trading mastery. The path to becoming a consistently profitable trader is paved with self-reflection, adaptation, and the unwavering commitment to learn from your past missteps. Embrace your mistakes as opportunities for growth and make them a part of your journey to trading excellence. 📈📚🛠
Please, like this post and subscribe to our tradingview page!👍
The World is your Trading Oyster! Trade it!The world is your trading oyster
Any market with a ton of volume, is going to move in one of three ways.
Up, down or sideways.
Stocks, indices, Forex, commodities or crypto currencies,
They all move the same, they all act the same.
We need to remember to diversify different markets into our trading.
When some are in bad market envrionments, others will be in good trading conditions to help balance and hedge the portfolios...
Be open to the markets available and do your research to see which will comply and will be compatible with your strategies.
Bla Bla Bla Excuses to NOT trade Bla Bla BlaWhat is your biggest trading excuse?
1. Not enough money - Then paper trade!
2. Not enough time - 15 Minutes is enough
3. Not enough education - Learn it's FREE
4. Not the right time - It IS the right time
5. Not the best market environment -
Let's get into them...
#1: I don’t have enough money to trade
Open an account and start demo-trading then! TradingView gives you everything you need.
Start back testing and kick off your trading on the right note.
#2: I don’t have any time to trade
Seriously?
Do you have time to watch Netflix?
Do you have time to walk your dog for 15 minutes?
Do you have time to read a book?
If so…
You have time to analyse for 5 minutes, 2 minutes to place a trade signals and then leave it up for the market.
15 minutes a day or at worse, 15 minutes a week – that’s all you need.
#3: I don’t know how to trade
What do you think TradingView tutorials are here for?
#4: I’m waiting for the right time
This is the biggest excuse for people to take action in life.
Not just with trading.
With a new hobby, with opening a business, with learning to cook…
You’re not waiting for the right time, because the only time is NOW.
You’re just afraid of failing and too scared to start.
Prove me wrong…
#5: The world and the markets are in a bad state
Hello!
With trading, we don’t care whether the markets move up or down.
If it goes up we profit.
If it goes down we profit…
That’s the whole point of trading.
Or else I would just do the passive income (which I don’t believe exists) approach and just buy and hold forever in hope.
#6: I don’t know what to trade
Why choose?
A chart is a chart.
Any market with a ton of volume, is going to move in one of three ways.
Up, down or sideways.
Stocks, indices, forex, commodities or crypto currencies.
They all move the same, they all act the same.
So, diversify your trading and trade all high volume traded markets.
#7: Trading is complicated
Everything seems complicated in the beginning.
But as you repeat the process on a daily basis, it gets easier…
This isn’t programming, you don’t need to know maths or science.
All you need to know is where to type in your prices.
Market
Buy Or Sell
Volume (CFDs)
Entry (Where to get in)
Stop loss (Where to place your risk level)
Take profit (Where to place your reward level)
Trade (Enter)
The rest, we show you via videos or in the Premium membership step by step processes EACH TIME.
Say less, do more…
If this motivation helped give the kick you need, let me know by replying back.
What is your excuse?