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Psychology

Your Ultimate Trader Personality Test! Would You Pass It?Here is a test that you can start with to know if you are psychologically ready to become a forex trader. 1- Do you get angry when you lose a game? Do you seek revenge? If yes, then chances are you will get even more emotional when you lose a trade especially that your money is at stake. Moreover, you will blame the news, president trump, your strategy, or even your friend who called you while you are monitoring the trade that lost. If you’re going to be a successful trader, you will have to learn to love taking a loss. Of course, you are not going to be happy to have a losing trade, but you will understand that losses are part of the process and you should be happy to be out of the market when the trade no longer represents a profitable opportunity. Revenge trading comes from one thing and one thing only, blaming the market for your loss. But let’s think about this realistically. Who is responsible when you have a loss? Of course, the correct answer is you. The market didn’t cause you to have a loss. Then when you seek revenge for the loss you received, you are actually trying to get revenge against yourself. The best fighter is never angry. ~ Lao Tzu 2- Do you think you are always right? Ego always wants to be right. In the markets, we as traders are not seeking to be right or wrong; we are seeking to make money. Your ego is your biggest enemy when it comes to trading. Because when you get too confident in your trading, you will not follow the rules as per your trading plan when believing that you are too good and that most of your trades will end up winning no matter what. If you let ego control your decisions in the markets, you will end up in a pool of losses with nothing learned but psychological and emotional pain. If you know a trader with an ego through the roof, he is not a trader, you may call him analyst, or instructor, or even a scammer, but not a trader. Know what you know and know what you don’t. And no matter how good you think you are, remember to stay humble, for if you don’t, the market will do it for you. 3- Do you fasten your seatbelt every time you drive? If you don’t fasten your seatbelt, means that you think that you are too good to make an accident. Hopefully, you will not make any accidents, but we both know that one accident can ruin your life especially if you weren’t wearing a seatbelt. We would rather call ourselves Risk-Managers not only Traders. As the only thing we have control on is our risk. The market can go anywhere. Professional traders think Risk, not Reward. No matter how good is your trading strategy, if you don’t manage your risk well and find ways to put the odds in your favor, you will not make it in trading. Trading without a stop loss is like driving without your wearing a seatbelt. One trade can blow your account. 4- Are you a follower? As a trader, you should never copy or follow blindly other trader’s analysis on social media or trading networks. You chose forex to be your own boss, why do you insist on being a follower? Moreover, do not doubt your strategy, entry, just because your fellow traders offline/online disagree with your position direction. The odds of being right aren’t with the crowd. The only way to make money, in forex or trading in general, is to trade by yourself and to be in full control of your account by following a well-defined trading plan that you implement objectively like a robot. You’re the one in charge of your trading. You alone are responsible for your success or failure as a trader. It is not the market… nor another trader… nor the trading system… nor the government or its news releases that are responsible. Develop your own trading style that suits your personality, time, and expectations and follow it with full focus. “If you don’t design your own life plan, chances are you’ll fall into someone else’s plan. And guess what they have planned for you? Not much.” ~ Jim Rohn 5- Can you wait for the green traffic light? To achieve success in forex trading, the first step would be to develop a good trading strategy with well-defined set of rules and to follow it objectively. Having the discipline to follow up your trading plan/rules is the surest way to build your trading career and make consistent profits over the long term. Self-discipline is NOT a trait that you are born with. Anyone can practice self-discipline, but it isn’t as easy as it sounds. “Just like Rome wasn’t built in a day” Nobody becomes successful overnight. It takes time, strategy, discipline, and consistent trading until your efforts pay off. The market pays you to be disciplined. Be disciplined every day, in every trade, and the marker will reward you. If you decide to trade without any rules, I promise you will not be successful. Freedom is good, but you need to have what I call “structured freedom.” 6- Are you usually committed to diet/gym? Are you into long-term relationships? The successful trader stays focused and sticks to his system/methodology. Just like you get married. You chose to spend the rest of your life with your partner, knowing that you may find someone better, smarter, more beautiful… but you are done searching. (Unless you want to cheat on your partner) Stop searching, for new methodologies. If your strategy is profitable. Then focus on it, master it, and repeat. You have got a money machine. Do not change methodologies week after week. Have you ever been in a marathon or planning to? Consistency and Determination is the key. Choosing to learn from your own mistakes rather than giving up is what determines a winning mindset. Just like trading, you pace yourself to win the long-distance trading race. Successful trading is supposed to be boring. 7- Do you finish your popcorn before the movie starts? For example, if you are not usually patient as a human, chances are, you will not be patient while trading. As a trader, 90% of your time is waiting. That’s why you need to be patient. First, you have to wait for the setup to form, and once you are in a trade, wait for your trade to hit stop loss or take profit. “The stock market is a device for transferring money from the impatient to the patient.” ~ Warren Buffett In brief, everyone can be a forex trader, but not anyone. Successful traders are made not born. To be a successful trader, you need to work on developing yourself as a trader in many aspects like risk management, problem-solving, flexibility and trading psychology. To be able to work on your trading psychology, first, you need to start from the core and work on your human psychology. Thank you for reading the entire article. You are awesome! ~Rich
COINBASE:BTCUSDEducation
by TheSignalyst
48
Book Review: Trading in the Zone by Mark DouglasSome say that trading is 10% mechanical and 90% psychological. One of my mentors once said "The simpler we make trading, the more profitable it seems to be." and it was a profound statement to me at the time... It was one of those "I heard the exact thing I needed to hear at the exact time" moments and it changed the way I traded. It is in our nature to over-complicate things because we have been conditioned to think that profitable ventures must be complex ventures from a very early age. How many times have we heard "You can't do that... only rich people get to _____." "You'll never be able to get _____ without a college education and years of hard work (working for *someone else*!)." And of course, "If trading were so easy, everybody would be doing it." We are surrounded by negative ninnies nullifying our natural need to succeed. Well, I believe trading indeed is easy, but becoming a trader... now that indeed is the hard part. In an earlier article I talk about Backtesting and its importance in determining if your trading system works, answering the question "Can this system generate a *reliable* income week after week?" Once you determine that, the question is "Can I work the system?" And that question, my fellow traders, is all about psychology. (And the point of the book at hand: Trading in the Zone.) This article rounds out what I believe will be my two most important book reviews. In my previous review of Price Action Breakdown I highlighted the processes of technical analysis as presented by the author. Using Supply and Demand we can find the movement of money in the markets and reliably place trade after trade right behind the big institutions who move those markets. There are many ways to trade using a Supply and Demand methodology. I myself came up with my own method which I call Sabre which I formulated from my years of experience standing on the shoulders of giants, following rules, managing risk, and "sharpening the saw" as the late great Steven Covey would say. However, no matter how good a system is, if not followed properly, (and in some cases if not followed to the *letter*) even the best 'systems' will produce mediocre or even negative results. For instance, there are plenty of great weight loss and weight management 'systems' out there (Keto, Paleo, Atkins, Whole 30, ...) but if one does not have a good psychology, they won't "work the system" even though they know that "the system works." It isn't until a person's *psychology* is right (i.e. that the PAIN of being overweight/unfit is greater than the perceived pain of following a system) that they will follow a prescribed system of weight management or fitness. Mark Douglas opens his book on this very topic, saying that "The consistent winners think differently from everyone else." It's not smarts, or market analysis, or a super-duper indicator that separates the successful from the unsuccessful, but one's State Of Mind , and primarily a state of mind that thinks in probabilities . Trading, says Douglas, is very similar to a casino. The only difference is that we need to think like the person behind the table dealing the cards, not the rube playing the cards. Once you get behind the table, then you can play with the Law of Large Numbers by your side: you don't care how many hands you lose... you just know that overall in the course of 100 deals / shuffles / spins that you will come out ahead if you have an edge - a system that allows you to play where the odds are stacked in your favor. For instance, if you have a trading system that is only right 30% of the time, but your winners consistently generate a minimum of 5R of profit, are you going to be upset that seven out of every ten of your trades are losers? You shouldn't be, because for every 7R in losses (7 losses x 1R) you will generate at least 15R in winnings (5 wins x 3R). Your main goal then would to find as many trades as possible to get into each and every day! (If you are not familiar with the method of trading in "R", or 'aaRrrrrr' as we pirates call it, you can review my " Trade like a Pirate " article...) The essential ingredient in developing this successful probabilistic mindset is to indeed, have a successful trading system, an edge that overall in the game of large numbers will allow you you rake in more winnings than are drawn out by your losses. And as my favorite quote from Douglas says, "Once you learn to identify patterns and read the market, you find there are *limitless* opportunities to make money." Our primary job as traders, then, is to manage risk , that our edge only allows us to take trades that meet the demands of our system, and we take every trade that meeds those qualifications. It is a rare thing, however, to find a "trader in training" willing to think that way... the beginning trader wants to find out how to be right all the time. They want to experience certainty in an environment which is random, which will lead to ultimate disappointment. Think of trading like flipping a coin, (a random event): If you can get someone to play with you where for every time the coin comes up heads they have to pay you $300 and for every time it comes up tails you have to pay them $100, would you play? Of course! Because you know that at the end of the day the money is going to consistently flow in your direction, that overall for every 2 flips you have the expectation of making $200, if 50% of the time it comes up heads (making $300) and 50% of the time it comes up tails (losing $100). If you had a magical money machine that would play with you, with these kind of odds, would you simply flip that coin 5 times and call it a day? If I could make a friendly assumption, I would say that you would sit there in front of that machine flipping that quarter hour after hour until that machine ran out of money! We traders, however, aren't playing a person. We are playing the market . And the market has (for all practical purposes) unlimited piles of money. And if we have an "edge" that pays us 3R for every time we have to pay the market 1R what would you do? You will take every...single...trade... that comes your way that meets your criteria. An amateur at a poker table might walk away because he lost all of his winnings. The market won't run out of money and will play along with you as long as you desire – at least until you reach your goals. Douglas summarizes his point saying that we will be a consistently profitable trader if we can "learn how to redefine your trading activities in such a way that you truly accept the risk, and you’re no longer afraid." And that "the consistency you seek is in your mind , not in the markets." If we want to be "In the Zone" and make ourselves available to this infinite opportunity flow, we need to develop a carefree state of mind that doesn't have any expectation about any individual trade except that "something will happen." Our goal is not to win or not to not lose, but to "get in the water" - to put on every trade that represents our edge and wait for that "something" to happen. And if your trade happens to be a loser, then get excited because that means you are that much closer to a win. With this carefree, probabilistic mindset, "losing" trades will never again produce a negative emotion. In fact, "If every loss puts you that much closer to a win, you will be looking forward to the next occurrence of your edge, ready and waiting to jump in without the slightest reservation or hesitation." Trading, according to Douglass, is ultimately a "pattern recognition numbers game." As long as we insist on "having to know" what will happen with any particular trade we will experience stress and have unfulfilled expectations. When we begin thinking (and acting) in probabilities and a series of trades, we will begin to develop an "unshakable belief in our consistency as a trader." I've recently heard it said that "Trading is one of the most amazing, rewarding, and enriching professions there is. But I wouldn't wish it on anybody!" For the most part, trading is highly psychological. As Yoda said, "You must unlearn what you have learned." What makes one a successful doctor, engineer, lawyer, Fill-in-the-blank.... those skills will contribute *nothing* to being a better trader. Finally, just like one trip to the gym won't make you healthy and fit, a single read of this book won't give you a strong mental edge to complement the technical edge of your trading system. I make it a habit to read/listen to this book at least once per quarter alongside Price Action Breakdown . Take notes. Apply. Rinse. Repeat. That's my one bit of advice for you: Don't just read this book once... read it regularly ... Like with the Napoleon Hill's book Think and Grow Rich ... If you ask anyone if they've ever read it and they said yes, ask them "How many times? Because you obviously aren't rich yet!" Even Napoleon Hill stressed that you should read his book over and over if you are going to exercise your "thinking meat" and make it stronger and stronger day by day. (By the way... you should read that book as well... but that's a review for another day.) Trade well! -Anthony
Education
by ocaptain
25
an educational representation of "pulling the trigger"This is an example of trading ltf of a htf level. We can try and fail more than once, but the idea is keeping loses minimal when we're wrong, keeping our position on the right side, defining clear rules for pulling the trigger and let it flow on the right time. 1) the level is broken, first try. short from 24775. and the stop is 1hr close above the level. a few bars later, invalidated. stay aside. 2) a mini HH. not enough for a long, but watch for the reaction when we come back to our level. 3) broke once again and closed below the former dip. so we can change our bias and trigger the second try with 4, short from a retest of our level. 4) pull the trigger, and our stop is the latest swing high.
by priceactionTR1
1
Single Color Candles VS. Multi Color Candles - PsychologyJust wanted to pay your attention to a phenomenon called: Visual Perception in Psychology. Your brain is always looking for patterns, it craves patterns! So why use camouflage on your charts? When you are using multi-color candles/bars, you are decreasing your ability to detect patterns, it is just science. Your brain looking for patterns, one of the qualities of a pattern is similar colors. Similar colors, signal to your brain "same object", different colors signal to your brain "different object". That is why animals use camouflage to hide from predators, and also, why it is used in the military to "blur" tanks and soldiers. Which one of the texts on the left chart is easier for you to read? The one with the same color? or the one with the alternating colors? Imagine you need to read a book, that each letter is in a different color! When you look at the drawn channel, your brain instantly sees a channel. But when you are looking at the Blue-Red drawing channel, you first see the Blue parallel line, and then the Red lines, and then your brain make effort to combine them to create the object "channel". It is a fact worth remembering for the next time you want your brain to instantly see: head and shoulders, channels, trendlines, triangles... What is your experience? which is better?
BITSTAMP:BTCUSD
by ZoharCho
7
NZDJPY - long- Pure chart readingSome recent large volume has come in showing the interest from the buyers. A sharp move up compresses time for any sellers in this area which I believe will make them more probable to exit if they get the chance on a retrace into their entry areas. Trapped sellers are probably to become buyers. Recent buyers are probably to buy again. Identify large volume areas where there are multiple instances of probable outcomes to help predict a reaction. Pure chart reading. Price should have a harder time moving down rather than moving up as there is no trouble ahead for this trade idea. No indicators just pure chart reading of the participants behind the price structure and their more likely behaviours.
Long
by sparklin
ShawnZ SELL signal 4 hour chart@Chartmojo shares the ShawnZ Bollinger Band Indicator with us many times a day, ShawnZ didn't invent Bollinger Bands, but they really seem to work... When Price crosses the standard deviation plot lines and then comes back they carry weight. Notice the 4 hour SELL signal, and last week was a "complex counter trend, corrective wave in Elliot". Wave 2 is a simple ABC and wave 4 is complex, 5 waves, but still an ABC, This is not a 4th wave, but it may well turn out to be the B wave of a large ABC down.... most of the people in the chat room love to try and predict the future, but the actual fact is nobody can predict with certainty what will happen in any given moment... The measurable, complex 5 waves, don't always perfectly match Elliot's rules in cases like this, it is 50% possible they turn into a pattern to go up to new all time highs again... I will be honest with everyone, I am not the greatest trader of all time, not by a long shot, sometimes I make idiotic noob mistakes in execution, but for some reason God gave me a gift of interpreting charts, a visual intelligence, combined with intuition, which makes my predictions come true way more than most. The proof is when you look back at my 75+ "My Ideas" there is one notable exception when I went long too early in September, but you know what after enough time that prediction came true and we went up in 3 or 4 days as much as we went down in 2 weeks... Is it bragging or arrogance when we talk about our gifts? I don't think so, especially if we also share our weaknesses.... I don't take credit for often being right, God get's all the credit for making me, just like He made all of you with your gifts and weaknesses. I am going to leave neutral on this Idea, because as a Trader I am always ready for both cases, up or down, and can flip in an instant if needed... I am looking for a short, but if they decide to rally up to new ATHs again they won't do it without me. The Trend is your FRIEND. Good Luck, Kauai Dave One day I want to open a room, again... I had a room called Kauai Dave's Daytraders, later KD's Trendtraders with over 5000 people in it, 3500 joined the day I opened it on TCNet let me know if you would join. I would focus on helping people with their trades, and sharing my opinions realtime for 60 minutes or 90 minutes at the CASH Open... You have all seen me trade real time in the room, and being the person I am I really get off on helping traders who appreciate my help, those who want to argue with me get put on ignore.
CME_MINI:MNQ1!
by dryanhawley
GBPAUD - PSYCHOLOGY: The Importance of being ADAPTIVEPART I. You name it, adaptive, reactive, flexible are all synonyms for the same thing. The IMPORTANCE of trading psychology is pivotal to a traders' success. For example, in this chart, you can see I am looking for longs and shorts. The KEY thing is I don't have a bias. Having a bias can cloud a traders' vision. When the price arrives at one of my level's I simply look for a setup on the lower TF. Even if neither of these options gives me my ideal set up ok... MOVE ON. I will reset. The next trade is always around the corner. Chart work.
Education
by LokaForex
The Death of Buy and Hold. Stop Investing and Start TradingEver since the invention of the Mutual Fund, then IRAs, or even going back to the ownership of individual stocks, the “common man” has been taught to “Buy and Hold” when it comes to their investments. Even today, investors are taught to put their hard earned dollars in a “lock box” and told to "let it grow"... We are told things like “Let time be on your side”… “Don’t worry about that downturn, the economy always recovers”... “Start when you are young” and most disastrously, “Buy strong companies in an uptrend, those who have demonstrated consistent growth...” This article may be a revelation. This article may make some people angry about the past decisions they have made. And some might also also say “That guy doesn’t know what he’s talking about.” To explain this I’m going to have us look at three things: a Paradigm, a Parable, and a Pair of Powers. =============== The Paradigm of the Financial Markets. =============== This might be the most important of the three concepts I will talk about in this article. When we understand this one concept, this one paradigm, this one way of thinking will transform us from being a “consumer” of financial products to a “trader” of the financial markets. As traders or investors, we are putting our money into an entity known as the “Financial Market.” Whether the vehicle you are using is a company, a commodity, or a currency… a stock, an option, a futures contract, or a ForEx pair, every single “in and out” represents a transaction between a consumer and a producer or supplier. Now, why is this global pile of securities collectively called a "market”? Well, like any other market it’s a place where “products” are bought and sold. Just like the smartphone market, the automobile market, the ice cream market, and the farmer’s market, the financial market is EXACTLY the same… only we deal in virtual products that we buy and sell by clicking buttons and moving our mouse instead of having to warehouse our inventory and provide a storefront. So, IBM, is a *product*; Tesla is a *product*, Oil and Natural Gas are *products*, and the Euro, Yen, and Kiwi are *products*, no different than a Ford Focus, an iPhone, or a pint of Ben & Jerry’s. Now, in any transaction in any market, who is it that makes money, the consumer or the store owner? You guessed it… the store owner! For *decades* now (going on centuries, actually) we have been conditioned to be *consumers* in a market when it’s the *producers* which are the ones who make the money! We have to switch our thinking. We need to think like a store owner or retailer rather than a customer. Now, how is it that any retailer, any store, whether it’s the ice cream man or Amazon.com, makes their money? They find a way to buy products (inventory) at *wholesale* and sell those products to consumers at *retail*. What do retailers like Amazon and WalMart sell? ANYTHING and EVERYTHING that they can get their hands on where they can buy at wholesale, mark it up, and sell it to the consumer at retail. So how can we make money in the financial markets? Just like Ben and Jerry do in the Ice Cream market. Just like Ford does in the automotive market. And just like Apple does in the personal computing market. We need to do as the Amazon do. =============== The Parable of the Retirement Industry (A Totally True Work of Fiction) =============== Once upon a time (1975, actually) there was a meeting of all the FatCat bankers. They all were having a grand time sipping their whiskey, smoking their cigars, bragging about their riches and success but they all agreed that they wanted even MORE. Looking back at the Stock Market they noticed that S&P really hadn’t moved much in the last 20 years. They said to themselves, “You know, all we are doing is trading all this inventory among ourselves and price is just SITTING there… How can we create a DEMAND for our product so we can see it go UP in value?” In comes New Kid on the Block, John Bogle, founder of Vanguard Securities. “Gentlemen,” he said, “I’ve got a great idea… Let’s give every working man in America a bucket… we’ll call it a Mutual Fund. And we’ll tell them that THEY have to fill it with all kinds of stocks: industrial stocks, medical stocks, automotive stocks, power company stocks, telecom stocks, and the more and more people start ‘saving for their retirement’, the more people will be buying our ‘products’, there will be more and more DEMAND every year and BOOM - the price of our products will skyrocket! (Insert sinister ‘Muwahahaha' laugh here…) So the word gets out to the street and into the business world: Your employees now have the opportunity to save for their retirement using their own money! (Which took employers off the hook from providing their own pension programs as the 401k industry began to grow.) So year after year, more and more Americans bought into the program, and as demand surged, so did the market. For the next 25 years the S&P would see a bull run like NEVER before! So what happens for these 25 years is a natural effect of Supply and Demand. As the limited “supply” of available stocks is becoming consumed by the American workforce, demand goes up. And it works great…. For 25 years. BUT… what happens when those 20-30-and 40-somethings who are working and buying, working and buying, working and buying, creating all that DEMAND… What happens when they become 40-50-and 60-somethings who begin to retire? They begin SELLING those stocks (creating monthly retirement income) and now we start seeing a REDUCTION in demand and an INCREASE in supply as the “balance of power” shifts and there are now more Sellers than Buyers - and the tide now turns in the epic cosmic struggle that goes on in the financial markets day after day, year after year, minute by minute. So what happens to these retirees who have lost HALF their savings by the time 2002 rolls along? They have to stop the bleeding! They go back to work so they can (a) have income and (b) put MORE money into The System so they can reclaim the level of retirement income that they need to go back into retirement. So now they are no longer sellers, but they are once again buyers, driving the price of the ‘products’ in their portfolios back up to pre-crash levels as the balance of power shifts back into the hands of the buyers. Five years go by… The people went back to work see that their 401ks are back to pre-crash levels, they quit their jobs, and the cycle starts all over again when there are now more buyers than sellers. Ack!!!! Now come into the present day where the market is at all time highs. Price has been whipsawing for the last 24 months! What in the blue blazes is going on? The same thing that has been going on since the dawn of retail sales in an open market: products are being SOLD to customers at retail, and BOUGHT from them at wholesale. =============== The Pair of Powers =============== So how does this happen? The first power is the power of FEAR and GREED. When we master our fears and temper our greed we can make the RIGHT decisions in the market. What has the average investor been taught for DECADES? To buy strong, healthy, up trending stocks. “Look at that company… they’ve been up trending for 18 months.” “Look at *that* company… they’ve been showing healthy growth month after month for the last year.” “Don’t miss out… you’ve already let the stock go from 25 to 85… you don’t want to miss the boat, do you?” BUY! BUY! BUY! The Fear of Missing Out (FOMO) and the greed of wanting to “make it rich” lets the novice investor be a slave to the emotions of Fear and Greed. So they buy. And what inevitably happens… You guessed it, the stock starts to falter, starts to fumble, has some bad news come out, is affected by CoronaVirus or other event or excuse. So once the stock gets to a new low price, they get scared (FEAR) and sell back to the broker so they can “cut their losses.” Economically, what did the ‘customer’ do in this case? They BOUGHT a product at “retail” and they SOLD the product at “wholesale.” Just like they would if they were buying a car. Go to the local auto dealer, buy a new car for $30,000, and later sell it for $10,000 when you trade it in for the next year’s model. We need to start thinking like the RETAILER, or in this case, like the financial institution SELLING the products at RETAIL and BUYING them at WHOLESALE. Warren Buffett once said that investors need to be “fearful when others are greedy, and greedy when others are fearful.” Trading psychology in a nutshell. The second power is Supply and Demand. Everything on the planet from Beanie Babies to Cabbage Patch dolls to 1970’s-era Star Wars action figures and yes, Financial PRODUCTS in a financial MARKET has its VALUE determined by the simple market forces of Supply and Demand. =============== The Solution: Hiding in Plain Sight =============== So, all that to say is, Buy and Hold is not only dead (which indeed worked great from 1975 till 2000) but it’s pretty much the great American Lie still being told to this very day every time someone enters the workforce and is encouraged to “put a little away every paycheck toward your future”. The Financial Markets are the ONLY markets in which we are conditioned to pay full retail for a product (look at that uptrend, look at the strong growth!) and sell at wholesale (Well lookie there, you’re losing money… let’s get you out of those losers.) There is NO other market - be it the automotive market, the electronics market, or the farmer’s market - where we are happy to pay full price. I want my stuff on SALE, and that includes my investments! Still not a believer? Let the money do the talking. Looking at the Chart at the top of this article, (also posted below), if you started investing in 1997, you would have had a ZERO NET RETURN after 12 years. If you started investing in 2000, you would have quickly lost HALF your investment, and broke even for a ZERO NET RETURN after 13 years. “Hey, I was told that time is on my side… I just let a DECADE of my life go by with a ZERO return!” If you were unfortunate to begin investing in 2018, you would have experienced six vicious whipsaws in just 33 months. Who needs that kind of heartburn?!?! And where is the market going to go? Up? Down? Do *you* or your financial planner have a crystal ball? Remember: Every financial planner and investment firm has that oh-so-handy get-out-of-jail-free card: “Past performance is not an indicator of future results.” Buy and Hold is DEAD, which means that we can’t afford to be INVESTORS, which is as good as throwing your money into a casino. We need to be TRADERS where we can “follow the money” and see where the major financial institutions, the “movers and shakers” of the market, the “market makers” are CREATING those levels of wholesale and retail, of Supply and Demand, and BUY when prices are at wholesale and SELL when prices are at retail - the exact OPPOSITE of what we have been taught in the Financial Market but the very SAME thing that we do in Every. Other. Market. When we learn to be the store *owner*… When we learn to buy at wholesale to sell at retail… when we learn to “follow the money” using a PROVEN system of trading that identifies these levels of wholesale and retail, we will no longer suffer the whims of the market. Just like WalMart, just like your local grocery store, we will be able to see *consistent* monthly profits if we take *consistent* action and we learn to *control* our emotions and trade like a Vulcan. Trade like Spock. “Trade long, and prosper!” Buy and Hold is dead! Long live Supply and Demand!
SP:SPXEducation
by ocaptain
141