What I want to talk about is the EASY money in trading. Is there such a thing? Yes there is. And I'll tell you what definitely ISN'T the easy money... Trading against a trend or trading a market that is all over the place. That's just asking for pain.
The easy money comes from the trend. Patiently waiting for a high probability set up, using your own method, to go along with the trend and extract that EASY money, which is at the very least 50-100 points.
People talk down indicators all the time saying they don't work etc etc, well indicators actually do work --- ON TRENDS that is. Does it mean you'll have an indicator that is going to profit you 100% of the time? No, never happening, but maybe 60-80% of the time, depending on how strong the trend is.
I've lost a ton of money trading. My main mistake has been trading against the trend and of course not managing risk properly. But as far as the actual trading goes the #1 mistake has been not sticking with the trends, that's 100%.
There are plenty of currencies, commodities and stock markets out there. There is no excuse to not find a trend and patiently wait for a proper set up to extract pips out of the market.
It's not about going for home runs either, it's about being consistent. If you find your niche and you're a consistently profitable trader, don't worry about your position size not being big enough, in time it will be and you will be rewarded properly for your discipline and patience.
That's all for now.
Go get that EASY money.
The easy money comes from the trend. Patiently waiting for a high probability set up, using your own method, to go along with the trend and extract that EASY money, which is at the very least 50-100 points.
People talk down indicators all the time saying they don't work etc etc, well indicators actually do work --- ON TRENDS that is. Does it mean you'll have an indicator that is going to profit you 100% of the time? No, never happening, but maybe 60-80% of the time, depending on how strong the trend is.
I've lost a ton of money trading. My main mistake has been trading against the trend and of course not managing risk properly. But as far as the actual trading goes the #1 mistake has been not sticking with the trends, that's 100%.
There are plenty of currencies, commodities and stock markets out there. There is no excuse to not find a trend and patiently wait for a proper set up to extract pips out of the market.
It's not about going for home runs either, it's about being consistent. If you find your niche and you're a consistently profitable trader, don't worry about your position size not being big enough, in time it will be and you will be rewarded properly for your discipline and patience.
That's all for now.
Go get that EASY money.