As humans. It’s tough.
In this day and age, it feels impossible to just focus on one task at a time.
You’re already shifting your attention. As you read this!
You’re thinking about:
What to eat, what you’re missing on Facebook, how boring this article is going to be, what’s on TV tonight, bills you have to pay, how else can you make bread for your financial...
I have said this many times.
You only lose when you quit.
Until then you’re either earning or you’re learning.
But the issue is majority of people quit trading.
And it goes far beyond just money lost. I say that because the essence of trading is playing with money you can afford to lose and you can psychologically handle.
Right?
So, it goes beyond money. If...
So you never took a trade again?
This could be where the problems are rising.
It’s also where you are probably missing out on what could help take your portfolio out of the drawdown.
And sometimes, despite favourable market conditions, you may find yourself still hesitating to enter a trade.
I want to explore four common reasons why traders fail to take the...
One of the key principles of successful trading is…
Once you have taken the trade to just let it go and allow it to run its course.
The system lined up – tick.
The entry orders are all in place – tick.
It matches your risk and reward criteria – tick.
You know your trade size – tick.
Now let it go.
You may get the urge to interfere, change the levels and...
When you gym well, it’s like trading well.
You gym to tone, to lose weight to build muscle and to build discipline.
With trading you trade to build your portfolio, build confidence, create a secured financial future and work on your mindset for life.
Both pursuits require consistent effort, perseverance, and a strategic approach.
Gym is an important element in...
Less is more... And this is just a summary of the most common 4 types of Gaps you may see,...
1. Break-away – Breaks out of a current trend
2. Exhaustion – Ends a current trend
3. Runaway – Runs in the direction of the trend
4. Common – Just an ordinary gap
Can you think of any more gaps?
BIG TIP OF THE DAY:
If you want to ride up winners, lock in profits and reduce losers here is what to do.
1. Place your Entry Stop loss and Take profit
(But have a TP 2 and TP 3 in place).
2. When the price approaches TP 1
(Close half of your position and move your stop loss to Breakeven)
3. When the price hits TP 2
(Close half of your position and move...
We know what we need to do to be a top trader.
On the method side – we need the right markets, to trade the right strategy by following proven rules and criteria.
On the mind side – we know we need to adopt a strong will, with discipline, passion and pure integration.
But what about the DONT’S?
What mustn’t we do during the process of becoming a successful...
If Putin goes ahead with pegging the Chinese Yuan to gold instead of the US Dollar a number of things can happen.
Factor #1: US Dollar will be challenged
This will for the first time, challenge the US dollar's status as the world's dominant reserve currency. People may look to invest elsewhere, which could cause instability.
Factor #2: Domino effect
There...
I’ll tell you this.
The money you desire, is not going to just fall into your lap.
If you want to be a successful trader, you need to write down the ground rules to get your as$$into gear.
I can’t profess for every professional trader, but I can share with you my rules I’ve been following for the last 2 decades.
Feel free to write them down for your trading.
...
Most people take the easy road of being in a Comfort Zone.
For this reason, they keep getting the same results and remain in their ‘uncomfortable’ position in life.
Think about it…
Those that don’t understand new things, never adapt to something that could change their life for the better.
Those that keep earning the same old salary, never grow their...
From the second you turn on your computer, to the time you press buttons commit your funds into your trades and close your computer.
You are making your own choices.
Do you choose this?
Do you follow that?
Do you go against this?
Do you type that?
So technically, your financial future success lies all in your fingers.
In this TradingView piece, you need to ask...
Trading is NOT for everyone.
Not because they can’t do it, or because it’s hard – but rather…
Trading is something that only a few will feel passionate to do for the rest of their lives…
I say this because there are many things that I could do well in, make a huge income from, but I unfortunately don’t enjoy.
For example, Poker, horse-racing and sports bets,...
“Timon, I’ve been following your trading tips for the last 12 years and I STILL haven’t taken my first trade." But I will soon trade...
Soon?
Like tomorrow? Next week or in the next 12 years?
Procrastination is the thief of time. I hate clichés but I love that saying.
#1: STILL not ready for losses
I think most people don’t want to take losses.
They are...
Even with the right markets, time frames, systems, rules and ideas…
Trading is just not playing out you the way you thought it would.
It’s not growing your portfolio at the rate you wished…
It’s taking forever to get right…
It’s overwhelming and you don’t know which strategy to choose…
From my experience this is because of one reason.
You’re not treating...
Captain Hindsight is bound to get in your head.
Whether you’re just starting out or you’ve been trading for the last 10 years or so.
He is going to question you with two simple words.
And these two words, can really cause a negative impact on your trading portfolio.
In this short article, I’m going to warn you about how he’s going to uppercut your mind and...
First let’s begin with…
What is a trading journal?
This is a log book where you plot every trade you make with the metrics to show how your portfolio is performing and will continue to do so.
I’m going to briefly list the items you’ll need to track your trading performance.
25 Items to plot in your trading journal…
The trade No.
The market traded...
So you want to trade, but just not taking action.
You’re on the computer and so close to taking a trade or opening an account with a broker.
The button is right there.
And yet, it feels like there’s a wall between your finger and the button.
I get it.
It’s a big step to take when you know you’re entering into uncharted financial waters.
You know risk is...
