Every now and then I dwell on how my life as a trader has evolved and what would have been the decisive elements that would have accelerated the results obtained today. It would have been nice not to make mistakes or to have a mentor capable of speeding up my learning. Here are some points I have been thinking about that may be important to you as readers.
1) Trade with real money, even if it is only a small amount of capital. Putting real money into trading will help you understand the emotions of winning and losing, which is an invaluable lesson.Start small and don’t rush.
2) Think about winnings and losses as a percentage. NOT in euros.
3) Decide what time of day you want to trade. Morning? Afternoon? or European or American session? or Asian?

Trading Room for spread trading

There are 2 dedicated telegram channels for spread trading updates:

  • FREE telegram channel: https://t.me/spreadtrading24
  • We-Spread PRO telegram channel with monthly subscription: https://www.investing.we-trading.eu/shop/we-spread-pro-trading-room/
  • XMAvaTrade

    4) Decide what percentage you are willing to lose on a trade before entering it and make sure you accept it if / when that happens.

    5) Most traders tend to win between 40% and 60% of the time (win ratio). Anyone who brags about much more than that is probably hiding the truth.

    6) Reducing losses and letting winning trades run makes a 50% win ratio system profitable.

    7) Three books that helped me the most for my style: William O’Neil’s How To Make Money In Stocks, Stan Weinstein’s Secrets for Profiting in Bull and Bear Markets, Jack Schwager’s Market Wizards.

    8) Use free resources on the web, such as Trading View for graphs, Finviz for a screener and Twitter to meet professional traders.

    9) Keep your charts simple: price, levels and moving averages.

    10) Price is the most important indicator. “Only the price pays” Brian @alphatrends says, remember that.

    11) Large institutions control the market and one way they show their hand is volume and reverse levels.

    12) The primary role of moving averages is to help determine the market trend. Alternatively I recommend my Ichimoku Breakout setup set at 4-8-16

    13) Always trade with a daily and weekly plan.

    14) Trade both up and down and never forget to hedge the risk with stop loss or spread trading.

    15) Don’t let a winning trade turn into a loser.
    16) Pick some graphic patterns and get really good at identifying them. My favorites are double highs / lows, bounce on intraday supports or resistances or on kumo and correlations.

    17) Look at the graph a lot! This is the only way to understand the price movement.
    18) A graph is a visual representation of supply and demand.

    19) The market tends to create important movements between 10 and 16 Italian every day.

    20) High-growth companies are more desirable. Stocks are likely to be among the most traded and volatile.

    21) If a stock is cheap, there is usually a reason … never think that something is too obvious … an already low and affordable price could still lose value …

    22) FOMO (fear of missing something) is real. Don’t chase something you don’t understand.
    23) Keep track of your purchases, sales, waiting time and other data on a sheet and review what you have done at least once a week.

    24) The market doesn’t care what you think. As Tom @ cany4 says “Be stupid, follow the price”.
    25) Twitter can be a noisy place, just follow people with a similar time frame and trading style. Follow to find out HOW they look at the charts and trade (learn to fish).

    Twitter account list I follow

    These people are constantly posting quality graphics and videos that I learn from every week. Find them all within my list: https://twitter.com/i/lists/1305796793440108544?s=20

    Leave a Reply

    This site uses Akismet to reduce spam. Learn how your comment data is processed.