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Saving retail traders from self-destruction Learn more: Tradingwithrayner.com Join us: https://t.me/tradingwithrayner
If trading is 80% psychology, then monks will rule the world. Instead, it's a combination of math, logic, and psychology.
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Discover how swing trading can improve your trading results and profitability—without spending hours in front of your monitor
Learn More 👉 https://www.tradingwithrayner.com/swing-trading/
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Stochastic Indicator Explained
Learn More 👉 https://www.tradingwithrayner.com/stochastic-indicator/
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Today, we have Pham Van Bang on the show!
He is a low profile person and you probably never heard of him.
But Bang is one of the best options traders in Singapore, having made millions from options trading.
What’s interesting about him is, he tried to escape Vietnam during the war and failed. Two times!
So he had no choice but to make do with whatever little he had and claw his way upwards—and today, he is a multi-millionaire.
So during my conversation with Bang, you’ll learn:
• How did Bang go from nothing (not even speaking English) to becoming a director at P&G and eventually becoming a multi-millionaire
• Why options trading and not stocks?
• Why he is a net seller of options (and not a buyer)
• How to validate if a trading strategy works or not
• Why he chose to keep his full-time job for many years even though he’s a successful options trader
Sounds good?
Then go listen now: https://youtu.be/T8WvHvHt3YY
[How to set proper profit targets (hint: it’s not about your risk-reward ratio)]
I laugh to myself whenever I hear traders comment:
“You must have a minimum of 1:2 risk-reward ratio if you want to be a profitable trader.”
Now let me ask you…
What’s so special about having a 1:2 risk-reward ratio?
Why not have a 1:10? Or even a 1:100?
So here’s the truth…
The market doesn’t care about your risk-reward ratio—it goes where it wants to go.
The only thing you can do is, observe what the market has done previously, and use it as a clue to where it might go in the future.
For example:
If the market previously collapsed at $100, then the next time it approaches $100, there’s a possibility of selling pressure coming in at that level.
As a swing trader, you don’t want to set your target at $105, $100, or $110 because the market might not get to that level due to selling pressure.
Instead, you want to exit your trade before opposing pressure steps in which is before $100 (around $99 or so).
This means if you’re in a long trade, you’ll want to exit your trade before:
–Swing high
–Resistance
–Downward trendline
(And it’s just the opposite for a short trade)
You don't need to be a more disciplined trader.
You need a trading system that gives you an edge.
This gives you confidence and conviction in yourself and your system.
Your discipline is a by-product of it.
[Don’t quit your job, yet]
Let me share with you a quick story…
John (not his real name) just started trading the Forex market.
He funded a live account and made a $1,000 profit after a few trades.
So he thought to himself…
“If I can make $1,000 trading part-time, then I’ll make even more money trading full-time.”
So, John quit his job to trade full-time.
The first few days were good as he was making consistent profits from the markets.
Then the market changed and the losses crept in.
Eventually, he gave back all his profits and blew up his account—now he’s looking for a job.
The lesson?
Don’t quit your job, yet.
Just because you’ve made some money from the financial markets doesn’t mean you can do it full-time.
A safer approach is to trade part-time and develop the skills to become a profitable trader. Once you have acquired it, then you can consider the transition to full-time trading.
Being a disciplined trader without an edge is like being a disciplined player at a casino, you'll lose in the long run.
Find your edge first, then work on your discipline.
The interesting thing is, once you find your edge, discipline becomes 10x easier.
The cup and handle pattern explained
Learn More 👉 https://www.shootingstocks.com/cup-and-handle/
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You can be profitable with a 40% winning rate and a 1 to 2 risk-reward ratio.
You can be profitable with a 70% winning rate and a 1 to 0.8 risk-reward ratio.
Ultimately, it's not your winning rate or risk-reward ratio that matters, but a combination of BOTH.
How to tell when Support or Resistance will break so you don’t get caught on the wrong side of the move
Learn More 👉 https://www.tradingwithrayner.com/support-and-resistance-trading-strategy
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Are you confused by the sheer amount of trading strategies out there? Well, turns out there are only 5 main trading strategies and here’s how they work…
Learn More 👉 https://www.tradingwithrayner.com/5-types-of-forex-trading-strategies-that-work/
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How to identify the direction of the trend without second-guessing yourself. Here are 5 techniques you can use…
Learn More 👉 https://www.tradingwithrayner.com/best-trend-indicators/
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If you're serious about trading, then you MUST have a trading journal. Here's how to create one step by step…
Learn More 👉 https://www.tradingwithrayner.com/trading-journal/
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Everyone wants to become a professional trader without really knowing what it means. So here's the truth and what it takes to become one…
Learn More 👉 https://www.tradingwithrayner.com/professional-trader/
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How To Apply Risk Management In Forex (The Complete Guide)
Learn More 👉 https://www.tradingwithrayner.com/how-to-apply-risk-management-in-forex/
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[STARTS IN 12 HOURS]
When it comes to stock trading, you want to buy stocks that are in an uptrend (just like how you want to chase the hottest chick in school). Why?
Because these are the proven stocks that are likely to continue higher. It could be due to positive sentiments, a well-run company, earnings, etc.
And the good news is, the US stock market is in an uptrend now.
But there are thousands of stocks, how do you know which to buy? When should you enter a trade? And what if the stock goes against you?
Well, in this upcoming webinar, I’ll share with you a simple stock trading system that has generated 3225% over the last 22 years. And yes, you’ll learn when exactly to buy & sell a stock—even if you have no experience.
Sign up now: https://www.tradingwithrayner.com/sts/
Trading isn't some online business where you can start with nothing.
You need money to make money.
Are you looking for a reliable Forex broker you can trust?
Then you might want to check out ICMarkets.
It has 20,000+ positive reviews on Trustpilot, regulated by ASIC, and has one of the lowest spreads in the industry.
Learn More 👉 https://tradingwithrayner.com/broker
And when you sign up with ICMarkets, you’ll get free 6 months of access to Pro Traders Edge (worth $294).
Here’s what you need to do…
1. Sign up for a live account
2. Fund a minimum of $500.
3. Place 1 live trade.
And that’s it!
Open an account Now 👉 https://tradingwithrayner.com/broker
Disclaimer: I’ll earn a referral fee if you sign up with them. But they are reliable in my opinion (as of this writing).
Do you trade the US stock market?
Then join me at my free upcoming event called, Stock Trading Secrets.
Claim your free ticket here: https://www.tradingwithrayner.com/sts/
In this 2-hour webinar, you'll discover...
1. How to beat the markets and earn an extra 10%, 20%, or even 40% a year—without analyzing candlestick charts, reading financial reports, or studying technical analysis
2. How to grow your account to 7-figures and beyond even if you have a small starting capital
3. How to generate consistent profits during a bull market, bear market, or even a recession
4. A simple trading system to profit from the stock market—even if you have tried everything else and failed
So if you trade the US stock market or have plans to do so, then this event is for you.
Claim your free ticket here... https://www.tradingwithrayner.com/sts/
How to identify trend reversals so you don't get caught on the wrong side of the move
Learn More 👉 https://www.tradingwithrayner.com/how-to-identify-trend-reversal
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The Complete Guide to Risk Reward Ratio
Learn More 👉 https://www.tradingwithrayner.com/risk-reward-ratio
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You don't need to be a more disciplined trader.
You need a trading system that gives you an edge.
This gives you confidence and conviction in yourself and your system.
Your discipline is a by product of it.
The Essential Guide to Technical Analysis
Learn More 👉 https://www.tradingwithrayner.com/technical-analysis
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[Learn everything about trading, then pick what you need]
As a new trader, there are things you know that you don’t know.
And then, there are things you don’t know that you don’t know (which are even more).
So, don’t focus on one technique or strategy too early because it might not be a good fit.
Instead, explore your options out there.
Learn as much as you can about trading, anything you can get your hands on.
Things like day trading, swing trading, RSI, MACD, stochastic, moving average, counter-trend trading, trend following, etc.
Now here’s the thing:
Not every trading tool you learn will be useful to you.
But the key is to understand what it is, how it works, and the purpose of it.
For example:
The moving average is a trend following indicator (what it is).
It works by calculating the average price over a given period and is plotted as a line on the chart (how it works).
You can use moving average to trail your stop loss, identify the area of value, and filter for trending market conditions (the purpose of it).
Now…
Once you know the different tools out there, you can pick the right ones to fit your needs—and not blindly follow the herd.
Don't focus on goals like: I want to make $20k a month.
It will NOT improve your results.
Instead, focus on the process like:
I will follow my plan consistently regardless of the outcome.
I will stay out of the market when I don't have a setup.
I will journal my trades.
And etc.
[It never hurts to start small]
Let me ask you…
If you can afford to lose $10,000 without affecting your lifestyle, how much should you fund your trading account?
$10,000?
Wrong answer.
That’s because when you first start trading, your performance will be at its worst.
You’ll make trading mistakes, give in to your emotions, and do things that are detrimental to your account like averaging your losses, widening your stop loss, etc.
This means your $10,000 will not last long.
The solution?
Start with a small trading account.
This way, your mistakes won’t be costly and even if you lose it all, you have money to fund another account.
Because no matter what, you must pay tuition fees to the market.
The question is, do you want to pay more or less?
One tip I can give to a fearful trader is to trade smaller.
Keep reducing risk to your comfort level, and slowly work your way up.
Rome wasn't built in a day and it's the same for your trading account.
[Don’t tell anyone that you’re a trader yet]
You’re wondering:
“Why can’t I tell others that I’m a trader?”
Well, if you’re a consistently profitable trader, then go ahead. There’s no issue with it.
If you’re not, then it’s best to keep quiet about it.
That’s because when you tell your friend that you’re a trader, the first question you’ll get is…
“Have you made money from trading?”
Your answer is probably no.
And you won’t feel good about it as you’re reminded of your losses and how incompetent you are.
The next time you meet up with your friend again, guess what’s the first question he’ll ask you?
“Have you made money from trading?”
Again, your answer is no and you’ll feel horrible about it.
Now when you meet your friend the next time, guess what’s one question he’ll ask you?
You get my point.
So to avoid this “trauma”, don’t tell anyone about your trading endeavor—not even your family.
Good trading
Your trading entry is not everything!
Don’t forget:
–Risk management
–Trade management
–Position sizing
–Mental capital
–Context
–Exits