Here’s what most traders fail to realise about trading strategies: They don’t actually have a strategy. They have a pattern. What do I mean by that? I’m saying that their ‘strategy’ is entirely focused on how they enter a trade. Whether that’s an EMA cross, an RSI signal, a harmonic pattern, etc. But since the …
What traders fail to realise about profitable strategies… Read More »
Here’s the number one reason why traders struggle with trading psychology. They think that learning it on a logical level is all that’s required. Let me explain… Traders will listen to Mark Douglas’s lectures on repeat. And create a long list of trading rules that they will follow. But when they’re in front of the …
Did you ever watch ‘Break Point’ on Netflix? It was a docu-series that reveals a behind-the-scenes look at the top tennis players in the world. And as I heard about all the struggles that they encounter when playing at the highest level… I discovered three mindset gems from the series that really stood out. Not …
Have you ever talked yourself out of a perfect trade? You see a setup forming that ticks all the boxes of your trading plan. But when the time comes to enter the market… All the doubts start creeping in. “It’s already gone up so much, surely it can’t go any higher…” “What if the market …
Hi Charlie, Do you believe in cutting your losing trades short? If so… Then you’re likely going about it the completely wrong way. Let me explain: Let’s say you’re in a 1:2 risk-to-reward trade. And price starts moving closer and closer to your stop loss. If you close the trade at a 0.5R loss so …
Hi folks, I’ve got something quite different to share with you today. It’s the BBC documentary that made me a well-known figure in the trading industry. It’s called “Traders: Millions By The Minute”. And instead of simply interviewing a couple of traders in the documentary… They actually show the lives of retail traders from Britain. …
Before you can develop into a profitable trader… There’s a foundational step towards profitability that you need to understand. Strangely enough, it’s also the root cause of why trading is so difficult. It’s not about finding the right mentor or picking the best strategy. And it has nothing to do with trading psychology. Those are …
A trader’s foundation step towards profitability.. Read More »
Even if you have the perfect trade setup… There’s still a common trade management flaw that can hinder your performance. And that’s moving your stop loss to breakeven too soon. Let’s say you enter a trade that meets all the criteria of your trading plan. But as soon as your position is running in some …
Everywhere we look, there’s uncertainty right now. The Bank of England warned of a coming recession this week amid a rising inflationary environment. Globally we have supply bottlenecks, energy concerns, the Ukraine/Russia war plus, growing tensions with China, Taiwan and the US. As with all periods of uncertainty, just like during the financial crisis, there’s …
The market is literally designed to take money from the masses over the long term. Period. The amount of people who can make money over 1 month, 3 months, 6 or even 12 months is impressive. But why can’t they keep doing this? Why do these same people quit trading a year or more after …
Why you need to be both humble and arrogant in trading.. Read More »