You Are Wasting Your Time, Unless You Have a Trading Mentor
It is very true, you are honestly wasting your time trading with the DIY approach. I know it is harsh but it is so true. Successful traders usually have a mentor or have had a trading expert help them. Is this the reason why traders become successful? YOU NEED a mentor if you want to be a consistently profitable trader over a long career. Remember that 90% of traders fail!!! FACT….. Do you want to be in that magical 10% that succeeds? Read on and I will show you why most traders fail and it isn’t even their fault. You are not built to be a trader, you’re not psychologically able to deal with the stress and toxic by-products of trading.The Trading Mastermind
I’m a huge fan of author Napoleon Hill. One of his 17 Principles of Success is that of the “Mastermind Alliance.” “A mastermind alliance consists of two or more minds working actively together in perfect harmony toward a common definite objective. Through a mastermind alliance you can appropriate and use the full strength of the experience, training, and knowledge of others just as if they were your own. No individual has ever achieved success without the help and cooperation of others.” – Napoleon Hill. My opinion is that any individual can achieve SOME success, but not to the level they are capable of if they DO NOT have a Mastermind Alliance. Great and massive success and accomplishments are only made if one has a Mastermind Group that they have access to.The 11 Fundamental Beliefs and Rules of Trading
These 11 rules are my rules that should be understood and acted upon every day. They will help keep yourself mentally prepared and your balance from suffering from major losses. I suggest keeping these on a mental checklist that you keep reviewing.
Support and resistance indicate convergences in the market where the supply and the demand meet. In the market, prices are driven by either excessive supply where the prices trend down which is referred to as bearish or excessive demand where the prices trend up which is referred to as bullish. As the demand for a security increases, bulls take over as the market moves up while on the other hand when the supply increases, the counterpart or the bears take center stage and move the market down.E-Mini Trading: Indicators? Oscillators? Which System Is Guaranteed to Work?
Anyone who has perused the Internet in search of potential e-mini trading education courses has been exposed to a wide variety of guarantees and outrageous claims. Many sites claim to have the latest and greatest new oscillator or indicator that will revolutionize the e-mini trading industry.