Our culture is obsessed with the rich, famous, and successful people, yet what is left behind is both the hard work and sacrifices of those who «made it»
And millions of those who failed miserably en route to fame and became nothing.
There are multiple theories on and philosophical systems, that reflect on success, but ill bring out the key points:🔑
➡️ ...
Happy Friday Traders!
In this video we go over the value of struggle in trading and how I failed over and over again only to succeed because I looked at my mistakes as golden opportunities to learn and improve so I can earn as a trader!
We hope this video helps you on your journey to profitable trading!
Sunzi begins by establishing the importance of strategy. Although the word bing has been translated as "war" in most works in the west, once you approach the original Chinese manuscripts and the sense of Sunzi's work, you immediately come to understand that he was not talking about warefare, instead, Sunzi wants us to appreciate how important it is to develop...
In my earlier article, " Proving Your Trading System with Backtesting ", I demonstrated how, in the Futures market, you could backtest your trading system, see what works and what doesn't, change your variables, and rinse & repeat until you have a winning trading formula.
You GET this winning formula by torture-testing (ahem, *back*testing) your system under...
A simple way to identify trend structures within the intra day charts. Stick by these structures and mould your strategies around this and you will succeed!
In my earlier article, " Proving Your Trading System with Backtesting ", I outlined the HOWs and WHYs of backtesting. Does your trading system work under all conditions? Under what conditions might it *not* work? Can you remove those instances from your plan? Under what conditions might you *improve* your win rate? In another article, " The Unexamined Trader ",...
We have all heard anecdotal evidence.
Every one throws random numbers around "be in the 80%", "be in the 91%", 99%, 90%, 75%, all sorts of numbers, usually the failure rate is pretty high and success is low. Day trading, or longer term. Real estate same story. And for long term investing you will hear "90% don't beat the market".
I am looking at speculating here...
🌆Good night, guys!👍🏻 Each of us wants to be a successful trader! 👌🏻
🧷Just as a good technique doesn’t make a profit with the wrong tactics , the right tactics wouldn’t succeed if the overall strategy is wrong . 🧷
🏹With the help of tactics , battles are won, and strategy makes it possible to win a war. 🏹
🔗The strategy determines the opportunity: it...
Here is my personal list
1- Adversity
This is the biggest one. 1 & 2 are the biggest one.
You know what we call those that have low adversity?
Starts with an L. Ends with osers.
You should not flinch when you get unlucky, when things are working against you.
You should love this! Makes it harder! Great! You should welcome difficulties.
Every year millions of...
Trading before News
News is a fact of Forex trading and while their are several ways to trade the Actual release and it's aftermath, today I want to focus on trading before the News. Understand that the decision to enter the market before News is a conscious one and you don't have to do it. Prime examples are days where interest rates, for a currency you...
Trade Review and Documenting
Most successful traders review and document their trades, unfortunately, alot of new traders do not. "what's done is done, can't change it...." while that is true, you can, and imho must , learn from them.
Each afternoon, whether I take a trade or not, I review the market and my potential set-ups, executions, and trade completions....
Measuring Success and Goals
As a Professional trader, you have 1 goal...Make money!!
That said, traders like to measure their success differently. Some use pips, some use wins v. losses, personally I use daily return. Understand my focus is on generating income and my mantra is "keep stacking positive days"
Imho, using pips to measure success can be misleading,...
CASINO MINDSET
Casinos consistently generate billions in revenue per year in what many individuals believe is luck.
Casinos don’t exists because of luck, they understand that over a series of events, the odds are in their favour.
As a financial trader you must become the Casino and understand that you will hit drawdown and period of losses, however if your...
What's up guys, I am here to share a truth about life and trading (mostly life - it's more helpful)
I was wrong for the first time ever on Tradingview (50% of the time to be fair). Yet, I am still massively up? How can that be? Because I reduce risk and am conscientious of my trades. Being wrong has opened me up to criticism and I more than welcome it. I love...
