You want to learn to trade?
Over the past few days and past in general I’ve lost count of the times I’ve been asked how to learn and how quick to become profitable...
Trading as a technical skill is relatively easy to master but it’s the psychology that is hard and requires work...so what does learning to REALLY trade look like, and are you prepared to put in the work? • Hours upon hours of content consumption
• Hours of backtesting your strategy, patterns & behaviour of currency pairs and recording
• Quantifying backtested data to determine your high probability setups and personal ‘edge’
• Develop a Trading Plan based on high probability setup
• Backtesting your Trading Plan to refine and develop a stronger management game
• Weekly Market Forecasting / Analysis to develop watchlist
• Daily morning & evening analysis
• Weekly ASR (review and record personal performance of trades taken that week)
• Monthly backtesting of trades taken against Trading Plan and continuously refine TP further
• Quarterly Performance Reviews ...this is all as a continuous repetitive process.
If that work even looks slightly daunting, Trading probably isn’t for you. Anyone can learn a Bull Flag and hit a buy button.
Another thing, if you’re scared to invest even as little as £100 in some form of education or mentor, do you really think you will be able to accept or handle a consistent loss of that figure when starting out? Then once consistent to be able to handle 10x that loss easily?! Losses are part of the process, a business expense, just like education is an ‘ordinary and necessary’ expense of a business - you are the business asset.
37 2823 days ago
Thank god IG is back up, was worried I wouldn’t be able to post a picture of my laptop & chart.
19 2599:06 AM Oct 3, 2018
One of my #90DayPlan goals is coming closer to fruition...UK suppliers have been agreed and have begun ‘stocking’ up the store with a selection of products I’ll be initially marketing.
I’m taking this store further than just relying on AliExpress, I’ve written a short article/rant on my website regarding this if you’re interested take a look.
3 1125:10 PM Oct 2, 2018
Not long till the office upgrade 🙏. -
0.5% Loss on USDJPY, but re-entered and floating around 1%, with USDCAD around the same. -
How’s your start to the week?
19 21110:47 AM Oct 2, 2018
Closed GBPJPY out for around 2.3% and AUSUSD for Break Even.
Markets have been pretty hard to read this week and generally slow & corrective. Now exercising patience awaiting the confirmations of directions to capitalise on further opportunities.
How’s everyone found this week?
15 6704:43 PM Sep 27, 2018
Testing suppliers for the new @shopify store and received one of the first products today.
With Dropshipping it’s important not to skip this step. It’s obvious to test the quality of a product by ordering a sample, but the communication and delivery times also need to be tested and QA’d.
One of the drawbacks with dropshipping is the delivery timescales, it can take anywhere between 5-30 days to receive a product - obviously that’s not scalable, as well as offputing for repeat customers. The best solution? Source at least national or bordering countries that can provide quick/cheap shipping...however sometimes you just need to rely on China. 10 days is acceptable.
Communication and tracking throughout has been good with this supplier and the quality of the product holds up...therefore they receive a ✅. Now to test the returns. Around 30% of online orders are returned, therefore it’s important you can trust your supplier actually handles this properly - otherwise it’s going to be costly 😬. .
Find this type of post interesting and enjoy more? Let me know 👇🏻 #dropshipping
13 5862:14 PM Sep 26, 2018
What am I up to? 🤷♂️ Getting closer to one of the bigger #90DayPlan goals.
7 1187:35 PM Sep 24, 2018
Making use of travel time by strategising & refining goals for 90 Day Plan. What’s your biggest goals for next Q4? ✍🏻
7 5618:35 AM Sep 24, 2018
The latest book finished, the guys got some stories and true determination 🔥. What books are people reading?
9 4736:07 PM Sep 23, 2018
The home office (top priority 🤫) is almost there, just carpets and lighting then it’s time to kit this bad boy out. @bradfairbridge I’m coming for you dude! #setupinspiration
15 5154:49 PM Sep 22, 2018
Remember my post on selling Penguins? It was awesome to be approached to be featured on the @oberloapp by @shopify on my Dropshipping journey.
I’ve been super quiet recently due to personal reasons and how much effort renovating a house truly takes!
Trading efforts have unfortunately taken a back seat because of this (still taking trades) but I’ve had this internal conflict and frustration I haven’t been able to put as much effort in I want.
Taking part in the @falcontradingguidance 90 Day Plan this is something I’ll actively be rectifying and as part of it, will be more active on IG and documenting my journey on a creation of a new @shopify store...so stay tuned! 👀🤫
12 54410:20 AM Sep 21, 2018
September sitting just shy of 12%. Lesson for the month? Conviction and scale-ins!