General Update – Binary Alert Service

General update

General Update and Binary Service Results

I didn’t get the chance to do a proper update of results for my Binary Alert Service in May. So I thought I’d do a general update instead.

Overall it was a poorer run of binary trade results and as of the 1st of June when I initially was going to write the update I was up by around £51 on the previous month.

 

Just over a week later I was marginally down.

 

This is when you need to grasp trading psychology and understand that the aim is to look long term and the results will be positive.

 

My starting bank is still up over 110% since I started the service.

 

Although I can’t deny that I wasn’t upset about a few bad results… [mainly because I have subscribers that I want to make profits for]. I I have been trading the markets long enough to know that this is not science. We will have ups and downs.

 

If you can’t stomach losses, then trading is unlikely to be for you.

 

Anyhow, I’ll cut and paste all the images and do a complete update next month.

 

Trading Support and Clients

 

A huge portion of my mornings have been taken up by support for some of my customers.

 

Whilst the majority of my customers do not need any support at all… or maybe I get an email from some of them once a week, others are in a league of their own.

 

Sometimes this has a bit of an impact on me. Not because I don’t like giving support… but occasionally after a mornings support session, I haven’t wanted to do much else. I’m drained for the day.

 

I remember Vince Stanzione saying that 20% of your customers will need 80% of your support… well I’m closer to 1% of my customers need 99% of my support.

 

It’s seems to be a case of some people are just incredibly hard work. Nice people? undoubtedly… just a little demanding.

 

Out of all my subscribers and customers though, I have only ever had to bar one person. He just had to go. Another came close… but I think that overall I have a great crowd of customers and subscribers that I feel blessed to have the opportunity to be trading with.

 

What have I got planned from here on for 2017?

 

Well, I want to concentrate of writing longer blog posts about how to trade. I’ll focus on areas that I use personally, have used and also areas I consider to be not so useful to traders and why I think that.

 

Also I want to write about my life as a trader, and what being a self employed blogger can realistically bring to one’s life.

 

I’ll also mention some stocks and positions on occasion if possible.

 

Spread Betting Guide

 

I’m also looking at a day trading opportunity that will be for spread betting The German 30 DAX.

 

I’m not sure of how to offer this at the moment though… free or added to the member’s area. However, it will certainly not be ready until late Autumn at the earliest.

 

Learning to Trade

 

As I have said previously in posts, the summer is a great time to practice and learn how to trade. It is a generally quiet time for traders. If you start studying now, you can then be ready for the markets springing to life in the Autumn. Even if you take a few books on holiday with you, it’s a start.

Price Action Trading Strategy

One of the simplest ways that you can trade the markets is by using a strategy known as trading the price action.

 

This basically means that you are deciding on what direction you anticipate the price of the market moving without using any technical indicators at all.

 

My version of this trading strategy uses a single moving average and the price. That’s it.

 

You can remove the use of the moving average if you have set profit target levels.

 

Price Action Trading Strategy

 

Lets take a look at this Mastercard chart.

 

You can see that on here we have a multitude of indicators and drawings that are serving the same purpose… that is to help give us an idea of where the price might be heading.

Trading Price Action Strategy

 

The chart above may seem complicated to many of us… but some traders will genuinely use a set up similar to this.

 

If I were to use a chart with that many indicators on I don’t think I’d be any closer to an accurate decision after analysis.

 

So let’s have another look at the chart with all the indicators removed.

Price action system

 

That’s better… a nice calm chart.

 

Now we have to decide on where we think the price will go next?

 

From my perception, I think that the price will continue to rise, although I also think that there may be some price correction soon, before the upward trend continues.

 

So that being said, where do I enter the trade? I don’t want to just enter the trade with a random guess. So I need to analyse the entry point visually.

 

I can do this by reading and analysing the candle patterns, waiting for a price correction to finish and by drawing imaginary trend, support and resistance lines.

 

A Closer Look at Trading Price Action

 

So let’s take a closer look at my mental price action trading strategy.

 

You can see from this chart that I can mentally draw a picture of what is happening. Obviously I’m drawing on the chart to highlight my thinking.

Price action

 

 

This is a nice steady and well behaved chart. You can clearly see that support and resistance levels have formed and prices have broken out. It is at these price breakouts that I can enter the trades.

 

So as you see, we can make profitable trades using a simple price action trading strategy without the need for using any on screen indicators. You can do this quite easily with a bit of practice.

 

Now if we take an even closer look, we can use candle formations to give us even better entry points and conformation of where the price may be heading.

 

Price Action Trading Strategy Using Candle Formation

 

There are many candle formations that can signify a change in direction of the price on a chart.

 

I have actually read a lot about Japanese candle stick patterns.

 

Initially and with what I learnt from reading online, I could see the logic, but there was no real deep information that I could use to gain a better understanding.

 

I deciding on buying a book, or shall I say tome from Amazon… at £60 I did find it a little overrated after I had read the reviews, but maybe I missed something???  Anyhow, it is still a good book and I gained much useful and fascinating information about candle patterns, even if not trading strategies.

 

The Best Candle Stick Patterns

 

What I did take from the book was the reasoning behind the formation of certain patterns and why some formations are considered more accurate than others.

 

One can then use this information to gain better entry and exit points.

 

My 3 Favourite Candle Patterns for price action trading.

 

So when using a price action trading strategy here are the 3 most effective patterns [in my opinion] that can accommodate the theory.

 

The Hammer and Hanging Man

 

Looking at our chart of Mastercard we can see that we have had a price correction from the 16th May until the 18th May using our 4-hour chart. At 16.00 on 18th a hammer candle forms and from there the price continues its upward trend.

 

The reason that the hammer has formed at this level is because the bears have managed to push the price down further but then the bulls have resisted and fought back pushing the price back up.

 

This is why hammers often signal support levels and reversals. In saying that, the bears are still around… and further price action needs to be confirmed before entering the market.

 

NOTE: The longer the time frame of your candles on your chart the more accurate you can consider these candle pattern signals.

 

After the hammer has formed, a small doji candle forms and then we have a big gap and a nice bull candle that can confirm the upward price may continue. You can then enter on the next candle.

Price action candles

 

Engulfing Pattern

 

The engulfing pattern signifies that the bears have lost momentum and that the bulls have taken control. It also signifies downward price movement capitulation and that the price is likely to retreat.

 

A bullish engulfing pattern should be formed with a small down bear candle and a large up bull candle that has very little shadow.

Engulfing pattern

 

This is one of the most commonly used candle stick patterns to identify price reversal. It is also one of the easiest to identify and understand.

 

The best place to see a bullish engulfing pattern is at the bottom of a sustained downward trend with a minimum of four consecutive down bear candles that are not increasing in size.

 

Price Action Bullish engulfing

 

A Bearish engulfing pattern is the opposite of a bullish engulfing pattern.

 

A bearish engulfing pattern signifies that a sustained bull period may be about to reverse.

 

The engulfing bear candle must completely consume the previous bull candle.

Bearish engulfing

The Morning Star Pattern

The final pattern that I commonly use or shall I say look for, is the morning star pattern.

 

This is another reversal pattern that consists of a 3 candle set up.

 

The morning star was called such as Japanese rice traders call Mercury [the planet] the morning star and this good omen was considered a sign of brighter things to come. Hence why this pattern is named and formed after a bear market. The down trend has finished and better times are ahead.

 

The 3 candles that form the pattern are one bear candle, one doji [the star] and one bull candle.

 

Morning star pattern

 

Reading the formation is as easy as spotting it. The longer the bear and bull candles the more thrust behind the reversal.

 

The bigger the gap from the candles either side of the star, the greater the chance of reversal as this indicates market indecision.

 

The higher up the close of the 3rd candle is [the bull candle] the greater significance this has to the price reversal.

 

The morning star formation is the least common of the candles I mention but many will argue that it is the most accurate in terms of signalling a valid reversal in price.

 

Other Candle Formations

 

You can read more about candle formations and patterns here. You may find other formations more suited to your style of trading.

 

The book I bought that I mentioned earlier, explains the history of these candles and formations and explains in detail how they were developed when the Japanese initially used them when trading rice hundreds of years ago.

 

I found all of this fascinating and what’s even more bizarre is that traders in the western world didn’t even know about them [candles] until the 80’s.

 

Price action Trading Strategy and moving averages.

 

When using a price action trading strategy, adding a single moving average to your chart can really add some weight to making more of an informed decision as to where the price may move to.

 

If you look at our Mastercard chart again you see that I have added a single EMA, Exponential Moving Average.

Price action EMA

You can conform your earlier findings with the EMA and then enter the market confidently. Before I show you how, let’s take stock quickly…. no pun intended.

 

So to recap… Identify trend, determine support and resistance levels, look for candle formations that may signal a change in market sentiment and then add a 6 period EMA to verify your findings.

 

Bare Bones Price Action Trading Strategy

 

If all the above sounds like too much effort, then the easiest way possible to trade price action is just by trading above or below your EMA.

 

So in our Mastercard example, we can go long as the candles cross up and over the EMA and go short when they cross over and under.

You will get more false signals trading like this, but your win gains will out number your losses.

Price action trading strategy

 

 

In Conclusion

 

A simple trade the price action strategy can give great returns, without the headache of 20 different indicators on a single chart all opposing each other. It’s a simple as you want to make it in all honesty.

Beginner traders can practice this easy enough without spending any money on charting packages or systems.

You can use the free charts on google or yahoo finance

How to Choose a Stock to Trade

I’m often asked how to choose a stock to trade? What do I look at that ultimately sways my decision to go long or short?

 

So I’m going to give you a run down today at what I look at and how you can start to do the same.

 

Choose a Stock to Trade – Mastercard Inc

 

This is actually a stock that I’m interested in trading soon.

Choose a stock to trade

 

Firstly, I will look at the monthly and weekly charts. This gives me an idea of where the price is going.

 

Looking at the above monthly chart, I can see that there seems to be a nice steady trend in place.

 

There is a similar picture on the weekly chart.

How to choose a stock to trade

 

Finally, I will load the daily chart as this what I will be using for my final analysis and entry points.

 

When looking at the daily chart, I’ll now start to use my other indicators to make an informed decision on where to enter a trade.

 

I’ll start by checking to see if my moving averages have crossed over? Are the candles forming above the moving averages? Is the trend still in place?

 

You can see that this is the case on our daily chart.

Choose a stock

 

I use different moving averages depending on how long I am looking to trade a particular market.

 

Shorter term I’ll use moving averages around 20 days [the longest period] Medium term 50 days and longer term 200 day moving averages.

 

Now as the trend has already been identified, we are looking for a good entry point.

 

This can be a tricky decision as you can quite easily over think the situation and delay the entry, or you’ll find that you do enter but wish you hadn’t because the price shoots of in the opposite direction.

 

The main thing to remember is that you are not trying to enter at the absolute low or high… it’s a nice idea but in reality it rarely happens.

 

As long as you enter and follow your rules, and you are not trying to buck the trend, then you should be ok.

 

It’s ok to open a trade and the price moves in the opposite direction. Prices move up and down… that’s the name of the game.

 

If the price moves completely against you… remember that these things can and do happen. It doesn’t mean that you can’t trade and the markets don’t like you. It isn’t some game the markets are playing with just you in particular…

 

Just go again when the time looks right. Overall when trend trading you’ll come out on top over time.

 

Trade Entry Points

 

Good entry points are at the moving average crossover as already mentioned and also at price breakouts when price moves above or below support or resistance levels.

 

Using our Mastercard chart, we can set our entry points where the price goes beyond a previous high.

stock trade

Volume and Candle Patterns

 

Volume and candle patterns can be incredibly useful entry indicators when you combine them with your charts.

 

I can’t possibly tell you how to trade using either in a single blog post… I just couldn’t do it with any detail that the methods deserve. However, you can get some free info here. This guy is a bit of a legend when it comes to candle chart patterns.

 

I also have a copy of this book… although personally I found it a bit over rated compared to the reviews, it is still probably the best book on the subject.

 

Learning about volume and candle chart patterns, combined with moving averages is many a pro trader’s main arsenal when it comes to entry points.

 

As you know, there are hundreds of other indicators that you can use. MACD is another I use to confirm trends and entry. Stochastic oscillator can be very useful too, as this can identify price direction change [swings].

 

For me though, I’m mainly moving averages and trend following. It has been the core of all my trading. It keeps thing simple and easy to see.

 

Gaining a Greater Edge – Company Insights

 

Analysing a company and delving deep into its current news can sometimes give you a clue to where the price may be heading.

 

Profit announcements, mergers, product launches, new land acquisition, new directors and so on… can all play a part in knowing which way a price might move.

 

For me personally, I am of the opinion that what we need to know has already been factored into the current price.

 

That said, Vince Stanzione is an absolute master at identifying emerging trends. I have no idea how he does it, nor do I have any idea how many points he has made me on this information alone??? It is many thousands though.

 

In Conclusion

 

Keep it simple.

 

My main tools are moving averages.

 

I have not changed the foundations of my trading since I have started… that’s because long term moving averages have remained profitable.

 

Deciding on a good entry point is all you need to do once you have seen a trending stock. Again, keep that simple too.

 

If spread betting is a little to nervy for you, start by trading binary options and then move on to spread trading from there.

 

Trading from Your Mobile – 3 Reasons it can Suck

I have just returned from a well-deserved break. Only 4 nights, but OMG that sun felt good.

The Journey was smooth, transfers even smoother and the chance to rest amazing.

As you know, this year has been different for me and also far different for my partner, as we have worked hard on creating my trading systems.

Now that the system has launched, there is support that needs to be offered on a regular basis. This is obviously a fact of trying to teach anyone anything… you need to help when it’s needed.

Fortunately, smartphones and mobile internet make running a business on the go totally possible.

Although running a business, offering email support and genuinely keeping tabs on everything is one thing… but can you really trade effectively from your mobile phone?

Well, being as I did exactly that whilst away I have to say yes. My subscribers want to make money and trade… and I was able to do all the required analysis on my iPhone, relatively easily and profitably.

As I’m used to trading and using my own system, this no doubt aids the overall process. However, if you’re a newbie, then I truly believe that learning to trade on a smart phone can have more negative outcomes than positive.

Here’s why.

3 Reasons Trading from Your Mobile can Suck.

One of the big downfalls from trading on your mobile is that you just can’t see the bigger picture.

Trying to analyse a chart on what is essentially a 6 inch monitor is ridiculously hard to do. Yes… you can see the chart alright, but it is very difficult to gain any true feeling about the price from such a small view.

If you know a chart like the back of your hand and are used to looking at it day in day out on a larger laptop screen or PC monitor then it is easier to get your head around.

But for anyone just starting out, laying their trading foundations by learning charting from a smartphone is going to be a struggle at some stage and most certainly cause errors.

You might be able to check your longer term trades easily enough on a smart phone [I do] but deciding on opening new, shorter term or in all honest any new trade could well be flawed.

I just don’t see how you can get a true insight in the overall picture of the chart on a miniature screen.

I may be wrong on this…. but analysing a chart on a smart phone is a big NO for me.

Trading from your Mobile

Where is the price going?

 

Resolution and view is another big concern I have with smart phone trading.

Turning your phone one way and then another [landscape, portrait] changes the view of the chart totally.

So getting used to the look of your chart can change instantly.

The most irritating thing about this is that you have to do it at some stage in order to see the overall picture that the chart is presenting you with. Plus you have to do this in order to read some data quickly if need be.

Charts on Smart Phones

To me, a chart looks so more urgent in portrait mode. This means that you then need to look at landscape mode to reconfirm the same thing that you have seen in portrait mode… this is a mega issue.

I find that portrait mode makes things look like you need to take action NOW rather than telling you what you really need to be doing… which most of the time is nothing.

These charts are of the USD/JPY. They are both exactly the same. But the portrait few seems to offer a trading opportunity. The chart looks so urgent and liquid to me.

 

Mobile trading Trading on smart phones

 

 

Smartphone Habits

How many times or how many hours a day do you really waste playing around with your phone? Finding something to do other than what you should really be doing?

Over trading… the scourge of all traders…. This is hard to master for anyone.

But nowadays you have a smart phone…are traders more tempted to keep checking their positions? You bet they are. Talk about dangling the carrot.

As the saying goes, and one I have mentioned many times before, ‘the money is in the waiting’

But for those idle hands, the temptation to keep checking your open trade is a disaster waiting to happen.

The constant trading opportunities that present themselves when trading from your mobile are practically endless. Even though there really aren’t any that you need to consider, you’ll find them.

Plus watching your trading go in and out of the money can be an emotional rollercoaster for many.

Betting Companies Love Smart Phone Traders

Any sports bookmaker or spread betting firm must be doing back flips since the invention of the smart phone. Although there has been a sustained effort to get companies in the UK to tidy up their operations, is that enough to stop a gambler gambling? I doubt it.

For the FCA to really save people from losing their money they need to ban any form of punting on smart phones… and that ain’t going to happen folks.

In conclusion

Overall, trading from a smart phone can be a useful tool, but only for the few that have cast iron discipline and are probably not day traders.

If all you’re doing is logging to your trading account and placing a trade, then the smart phone is awesome. Just make sure you can walk away and forget about it once you have done so.

Most should steer well clear, trading on your mobile isn’t that easy. Learning to trade on a PC or laptop is far better.

Trading using support and resistance lines

As I have already mentioned, there are a numerous, even hundreds of ways to trade the markets, I thought it an idea to highlight that there are few simpler and as effective as trading support and resistance breakouts.

Again the one thing you need for this strategy is discipline, and that comes in the form of waiting for the breakouts.

Apart from that this trading using support and resistance lines is ultra-easy to do and mega effective.

Trading using support and resistance lines

Looking at this chart of the USD/JPY you can see that the price opened up on again Sunday evening from its Friday evening close.

Trading using support and resistance lines

The price then moved down quite strongly over Monday 24th after opening… giving us our first resistance level at 11062.3.

From there, the price met support on Tuesday at 10958.7 giving us our first support level.

As the price headed back up to our first resistance level, the candle at 12 noon breaks through this resistance level and as you can see moves higher.

The candle immediately after the breakout candle can give us a good entry point using our 4 hour charts.

You can then place a trade on binary for a set number of hours or if spread betting, open the trade and place a stop loss at the previous resistance line point 11062.3. that has now become our support line.

The price then retracts and moves sideways before resuming its upward climb to the next resistance level at 11229.8.

From this new resistance level we are either expecting a nice strong breakout or a good rebound/swing back down.

Why? Because if we look back at our chart we can get a far clearer idea of where we think the price may go.

Trading using support and resistance lines

As you can now see, the picture is clear.

The price has already rebounded from the same resistance level on 31/03/17 and continued to move down until 17th April where support was met.

Then the price has moved steadily back towards the resistance level that was formed on March 31st.

This simple trade has made around 800 points overall in a month… 400 down and 400 back up if you were spread betting [depending where you entered].

Where do you think the price will go from here? If I was trading this currency pair I’d wait for a breakout candle above the current resistance level around the 11230 mark. I could then place a binary trade for a set number of hours, or I could even use days. If it rebounded we could still trade the swing back down.

Spread Bet or Binary?

I have rarely ever spread bet currencies. I am far more content spread betting stocks or indices… That stems from trading with Vince Stanzione I think.

I do like trading the currency markets on binary though.

Anyway, have a look at some charts and practice drawing in some support and resistance levels. From there try trading the breakouts. You can use a demo account on IG or binary.com to monitor your results.

Drawing support and resistance lines

Don’t over complicate drawing support and resistance lines. All you need to do is ask yourself this… has there been a significant change in the direction of price where I’m about to draw my support and resistance lines?

If yes, then draw your line. It is that simple.

You can also draw support and resistance lines diagonally. This can also help to identify trend directions and create trend channels that can be used for swing trading as well as clarifying entry and exit points.

drawing support and resistance lines

Binary Alert Service Trading Results Update

Trading Results Update

Another month has already passed since the last results update from my binary alert service.

Trading Results Update

This last month on my binary alerts service we had a total of 19 trades.

Of those 19 trades 7 were losers.

This means we had a strike rate of 63.1%

Our new balance as of today is £496.30

Giving us a total ROI return on investment of 148.15% to date

You can see from the results that you do not need ridiculously high strike rates to make trading pay. Nor do you need huge starting banks.

Also the results could have been better if I had set my trade to stake instead of payout on the 28th April… also, I set the time to open a trade not accounting for daylight saving hours and had to close it and take a £5.77 loss.

My bag though, and lesson learnt again unfortunately as I have been caught out on the stake/payout issue before… Ohh Rachel.

If you haven’t considered joining my alert service then you can read about it here.

The results may seem slow and steady now… but the compounding of your bank will most certainly make your eyebrows rise over the coming months.

In fact, you’ll find my results beat many sports tipsters services.

Adapted Selections

Also, I have had to change my strategy ever so slightly on these alerts as some subscribers were unable to get the trades on in time. This was affecting their profits and also my morals to my customers.

To rectify this I am sending the alerts out up to an hour earlier so that everyone is trading at the same times. And there is now no rush or irritation to get over to binary.com in time.

In fact once you get the alert you can select the time on binary that the trade has to start and then just log back out and forget about it for the day. It couldn’t be simpler.

Trading Results Update

 

Free Binary Bet Free £20 Binary Trade

Free Binary Bet

Free Binary Bet Offer

As promised, here is the link to get a completely Free Binary Bet.

You do not need to make a deposit to get the free Binary bet. Plus it’s £20 so a great offer.

All you need to do is open a real account.

Just go here now and sign up.

Binary Trading System

My partner and I have been working on my binary trading system, and we’ll be adding some new video’s and content to the members area in May/June.

The feedback for the system so far has been awesome… and most people hitting 70+% strike rate. Some that are trading the fast system have crushed it. I’m happy for them all.

But me being me, I want to totally over deliver on my trading system and keep improving and moving forward.

I do not want to create more binary trading systems to sell separately and profit from like many marketers do. Anything that works will be added free to the members area.

New Content

The new content will also show how to find more trading opportunities using other currencies and even stocks.

We are also working on a hedging strategy that will enable you to place a binary trade over a longer period and trade shorter term movements to cover some of your stake money. In essence increasing return on investment. This will enable even the most risk adverse traders to make better profits.

Vince Stanzione Seminar

Vince Stanzione has his last seminar on the 5th/6th May. Either I or my partner will be there if not both of us.

I’m going to be very interested to hear his views of what he thinks will happen over next few years now that Trump is in? Now things are settling down I think there’s going to be good buy and sell opportunities with increased accuracy.

I’m also looking forward to getting the heads up on some good long term trades. As it happens I still have money in some trades from the last seminar.

Trading the Financial Markets – It’s not an Enigma.

Trading the Financial Markets

It’s no fun trying to do something that you know can be done but you just can’t seem to do it.

 

Why does trading, whether it be online, off-line, spread betting, binary trading or buying stock via a broker seem to only work for some and not for others? Why is trading the financial markets such an enigma?

 

Why is it that some people can make a couple of thousand pounds a day whilst others just seen to lose day in day out?

 

Even if someone was using the exact same method to trade the financial markets the results can and will differ.

 

The problem is evidently not down to the system or strategy that one is using… it seems to be more a case of the individual’s interpretation of the markets.

 

In fact, that is largely the difference between winning and losing traders… a winning trader just has a superior mindset when it comes to trading over the chronic losing trader.

 

No one Likes Losing

 

I am yet to meet anyone that is actually really excited about losing or opens trade and wanted to lose.

 

No one likes losing… I personally can’t stand losing, and when it comes to losing money, the bad taste that the loss leaves is quite unpalatable. The thing is though, I also understand that losing is what makes up the winning mind-set of a profitable trader.

 

I know from the years that I have been trading that long term I will be profitable.

 

I understand that the wins and the losses all contribute to my final results. I may have up-and-down weeks or even months, but over the long-term I will come out on top.

 

When you know that, trading becomes far less of a psychological rollercoaster ride.

 

The Fear of Losing Money

 

The fear of losing money can become so very intense that the sheer psychological strain on the trader is enough to stop them from ever reaching their full potential as traders.

 

The problem with becoming a winning trader is far more to do with your own phycology than it is to do with what system you are using.

 

When you lose a trade you will react to that loss. You will either accept that your decision was wrong and then wait for the next trade to present itself. If that trade loses, you still know that long term you will be profitable. You’ve been trading a long time and you have your emotions in steady order.

 

But when you are a new trader things are not that easy. The hurt of losing means pain, a dent in your ego and it’s taking a step back from progress.

 

To rectify this, you want to regain any losses as quick as possible. Even though this may mean bending the rules of your trading strategy… you do it anyway to stop the pain, heal your ego and feel like you are still going in the right direction.

 

The reason you act like this is because you are your own boss when it comes to trading. You don’t like being wrong, so you try not to be.

 

Back in the Classroom

Learn stock market trading

Imagine being classroom like when you were at school… only now you are in a trading classroom, trading the financial markets… or at least trying to. There are 30 other students in the classroom with you, all sat at their trading desks trying to learn.

 

The trading system that all the students are trying to learn is awesome. It has an 90% strike rate. You can easily make $100,000 a year if you get it right.

 

The teacher is in the classroom with all of you. She’s walking around checking everyone’s work as they go. She is making sure that you are all following the rules before you make a trade.

 

If you make a mistake, the teacher will spot it and scold you for being stupid and not listening. They’ll say something like, “Nooooo Rachel!!! What are you doing? What have I told you? You’re not listening are you? I think that maybe you need to try something else to make money.

 

Even more that, if they feel you are to stupid to follow simple rules you will be asked to leave and not come back… in front of the whole classroom.

 

Do you think that under such conditions that you’d be more likely to stay disciplined?

 

It’s highly likely… because you don’t want to look stupid in front of everyone and also you don’t want to lose the chance at making some serious money.

 

What’s more is that even if you have a losing trade in the classroom, the strict rules that are made clear by the even stricter teacher, prevent you from doing anything else for the rest of the day. You then start the whole procedure again on the next trading school day.

We Learn Much Harder Things Than Trading

This scenario above is not unlike how things were when we were at school.

 

Although the truth is that at school we learnt to do things that were far harder than learning to trade actually is.

 

Subjects like chemistry, physics and maths. Even reading, writing and cooking. All these subjects pose a far greater challenge to learn than deciding if a price will go up and down.

 

So why when left trading to one’s own devices, the simplest of tasks become a challenge?

 

I often think about this conundrum. And I’m sure that it boils down to what we were like from a very early age. Maybe even from when we started nursery?

 

Girls in general are more disciplined and less rebellious at school. Is that why they say that women make better traders?

 

Freedom from Discipline

 

Leaving school is looked at as the first step to freedom and adulthood for many teenagers. Is it then that personal discipline is damaged and your success as a trader already made so much harder?

 

I’d really like to see some stats on this one day. There must be something to learn from such data?

Trading the Financial Markets

Trading is discipline, it’s as simple as that. And if you start out only trading once a day or checking your position only once a day you are eliminating 90% of the errors that you will make.

 

Stop the temptation

 

Over trading is a huge contributor to why traders lose money.

 

It is the temptation to trade, to do something with an already open trade or trying to trade for entertainment throughout the day that creates the issues.

 

These problems are a new trader’s nightmare. Because of the internet, charts, trading apps and so on, trading is now so more accessible to everyone. The opportunity to trade/gamble or make your fortune is always being dangled in front of your nose.

 

Remove Temptation

 

Try these simple tasks at self discipline and you’ll be ahead of most of the losing traders.

 

If day trading, only trade once a day, win lose or break even. There is absolutely no exception to this rule. Make your trade and walk away.

 

Are you using a day trading system that requires you to be seriously active at your screen when operating it? Then set time slots that you can trade. So for example you can only trade from 8-10 am each day.

 

If spread betting longer term [3 months plus], use stops and only trade a single position when you start out. Also get used to checking it only once a day… preferably in the evening.

 

Habits are good.

 

Repeat what is working until it is habit.

 

Success from trading comes from doing the simple things well, over and over. Don’t complicate things. Do what works… again and again.

 

Trading is Boring

Turtle Traders

 

If you are trading and find it boring, then that’s great. Looking at a screen all day, waiting for something to happen is one of the most pointless things one can do.

 

That is not what successful traders do. It stands to reason then that you shouldn’t do it.

 

Apparently, the original Turtle Traders played ping pong for most of the day when they were learning how to trade because there was nothing else to do.

 

Accept Trading for what it is

 

If you were hoping trading was going to be like a scene out of some blockbuster movie, then you’re in for a shock. Winning traders [individuals] just don’t trade like that.

 

The reality is, that trading the stock market is very laid back and personal to each individual trader. If you want multiple screens with charts and news on all day, then you’re probably better off going into Paddy Power or your local High Street bookie.

 

In Conclusion

 

Be disciplined, trading and making any sort of income from trading means discipline… if you lack discipline, practice becoming disciplined until it’s habit. Learn to do the simple things well, over and over again… that’s what successful traders do.

 

Trading is not some sort of elaborate entertainment game. Trade professionally, like a winner with a winning strategy.

 

If you’re bored then do something, anything, but don’t trade.

 

When you get it all wrong, accept it and move on. The most profitable traders in the world are never always right. Don’t let your ego get in the way of long term success.

Binary Trading Results and Profits

I just want to share my binary trading results that my alerts service has given last month.

By just compounding an initial £200 start bank, this has increased to £356 from 20 trading days. Out of those 20 days there was trades on 13 of the days.

That equates to 78% ROI over the month… awesome.

We have had 13 trades in total and 3 of those lost, giving us a 76.9% strike rate

Binary trading results

The alerts normally go out from 8 am until 12 noon and are for a minimum of 2 hours and can last for up to 12 hours.

Once you have made the trade, that is it for the day. You can just check back later.

This is probably one of the most stress free ways to day trade available.

If you want to learn how to day trade check out my system here. Or you can subscribe to my alert service here

Learning to Trade

If you are using my trading system, then there are many other trading opportunities that are presented each day.

Although I always advise that trading more doesn’t always mean more profits, my system does give you the opportunity to set a time to trade.

So even if you have other commitments you can fit trading into your schedule… early morning, in your lunch hour or even up to 9 pm in the evening.

The feedback that I have been getting is fantastic… For me it’s like an unreal feeling to be helping people make money from trading. I have really enjoyed it.

Many like the simplicity and again the stress free style of the systems. I think that this comes from only needing a small starting bank to get started too.

Also, having a low risk strategy helps people to trade better as the money is not scared before being traded.

Here is a screenshot of all the trades I made. I staked 5% – 10% You will also see that there are a couple of 5% trades on the same day within a few minutes of each other.

Binary Trading Results

 

Master Investor Show – Trades Recommendation

Master Investor Show

I attended the master investor show on Saturday.

It was held at the business design centre in Islington. I had not been there before and found it a nice change to the larger venues like the Excel.

I also like the fact that it was held in Islington as I had not been there for years and it was nice to go back and enjoy the day.

The speech by Jim Mellon was entertaining as always and he gave some tips to watch out for that I’ll share with you in a moment.

Vince Stanzione was there also… in jeans and a trendy jacket may I add. I had a quick chat with him too.

There were a good few stands there, but my main interest for the day was chatting with the team from binary.com

Having been using the service regularly now as well as recommending it to you all, it was nice to actually meet the people behind the company.

I chatted with them in depth about all topics, and pointed out that I didn’t like their free charts as much as others that I had used. Unsurprisingly, they seemed quite alarmed by that and assured me that the free tradingview charts that they offer are used by many professional traders.

I know of Trading View, but I was under the impression that they were subscription only… But they are indeed free if you have an account at binary.com

My partner Chris is doing a quick video on how to use them that he’ll upload to my Binary Trading Members area today. If you’re not a member of my binary trading system you can join here or if you just want to use the free charts you open an account on binary and look in the shop section. You’ll see the trading view charts in there.

A free Bet for You

Also, I managed to get a free £20 bet at binary.com for my blog readers. I’m just waiting on the link . Once I get it I’ll email it out to you.

Master Investor Show Trades 

As said, Jim Mellon gave lots of advice out in his presentation but the ones that I had the most interest in are

  • Long Nikkei
  • Long MXN/USD

Beneath are some of  the slides from the show with his recommendations. You can have a look and evaluate yourselves.

Master Investor Show trades

Bear Trades