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[Have another source of income to tide over the tough times in trading]
Here’s the truth:
No matter how good you are as a trader, you’ll encounter losing streaks, losing weeks, and possibly even losing years.
If you do not prepare for it, you’ll face difficulties putting food on the table, paying your bills, etc.
And in such scenarios, it’s difficult to make good trading decisions because you’re trading with money you can’t afford to lose.
You’ll average into your losses hoping to make it back quickly or widen your stop loss so you don’t lose your money.
So what can you do about it?
Well, that’s where having another source of income helps.
It could be having a job, an online business, affiliate marketing, etc.—the more sources you have, the better.
Here are some ideas you can think about:
• Affiliate marketing (recommend products & services you believe in and get paid for it)
• Coaching program
• Online course
• Earn advertising fees (from YouTube, Google, etc.)
Now, building multiple sources of income is like digging a well.
You want to focus on digging a well till water comes up before you move on and dig another well.
Otherwise, if you dig many wells at once, you’ll end up with no water because you didn’t dig deep enough.
And it’s the same thing for building multiple sources of income.
I tried chart patterns and failed.
I tried trading indicators and failed.
I tried harmonic patterns and failed.
I tried candlestick patterns and failed.
Eventually, I realized it was not the tools—but me.
And everything clicked.
[The truth is: trading is a get-rich-slow scheme]
You’re probably thinking:
“Then what’s the point of being a trader?”
“No way. I want to make fast money so I can quit my job.”
“But I’ve heard of traders taking a few thousand dollars and turning it into millions.”
Yes, it’s possible to make big returns from trading in a short period.
How?
All you need to do is risk all your capital on one trade.
And if you get a 1-to-1 risk-to-reward ratio, you’ve just doubled your account.
So, what’s the catch?
It’s not sustainable.
Because if you encounter a single loss, that’s the end of your account.
So, how should you approach trading?
As a get-rich-slow scheme.
I know it’s not sexy.
But if you stick with it long enough, it’s possible to grow your account to 7-figures (and beyond).
Here’s how…
• Let’s say you have a $5,000 trading account
• You contribute $5,000 to your account each year
• You earn an average of 20% a year
Now if you do this consistently for 30 years, do you know how much money you’ll have?
$8,278,170.
Yes, you see that right, $8,278,170.
In other words, when you think long-term, the sky is the limit.
Unfortunately, most traders are fixated on the now that they miss the big picture.
Don’t be one of them.
Stop forcing trades when there’s nothing.
Instead, pick a level to trade where you’ll lose small when wrong—and earn big when right.
You pay less commissions, make less mistakes, and have less stress.
[Here’s why you need proper risk management in trading]
Imagine:
There are two traders, John and Sally.
They both start with a $1,000 account
John is an aggressive trader and he risks $250 on each trade.
Sally is a conservative trader and she risks $20 on each trade.
Both adopt a trading strategy that wins 50% of the time with an average of 1:2 risk to reward.
Over the next 8 trades, the outcomes are Lose Lose Lose Lose Win Win Win Win.
Here’s the outcome for John:
-$250 -$250 -$250 -$250 = BLOW UP
Here’s the outcome for Sally:
-$20 -$20 -$20 -$20 +$40 +$40 +$40 +$40 = +$80
Do you see the power of risk management?
So here’s the deal:
As a trader, you’ll encounter losses regularly.
But with proper risk management, you can contain these losses till it feels like an “ant bite”.
The big money is made by sitting on your positions—not forcing trades out of boredom.
Читать полностью…
Limit Order vs Stop Order: Which one Should You Use And Why?
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[The most important formula in trading…]
You’re probably wondering:
“How do I know if I’ve got an edge?”
That’s a good question.
You can’t tell if you have an edge based on chart analysis, risk management, psychology, etc.
Instead, you must be able to quantify your edge.
Here’s the formula…
E = (average gain x winning rate) – (average loss x losing rate)
Now, don’t panic because the formula is easy to understand that even a 10-year-old can do it.
Let me explain…
Let’s assume you have the following metrics from your trading…
• Average gain = $500
• Average loss = $400
• Winning rate = 60%
• Losing rate = 40%
Next, plug those numbers into the formula and you’ll get…
E = ($500 x 0.6) – ($400 x 0.4)
= $300 – $160
= $140
Now, what does $140 mean?
Two things…
#1: It means your trading strategy has a positive expectancy (otherwise known as an edge).
#2: In the long-run, you can expect to make an average of $140 per trade.
Now…
Your expectancy will vary from one trading strategy to the next (and from trader to trader).
It’s possible to have an edge with a low winning rate because your average gain is much higher than average loss.
Likewise, it’s also possible to have an edge with a higher average loss than gain because your winning rate is high.
Triple Bottom Chart Pattern (The Essential Guide)
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[STARTING IN 24 HOURS]
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/
[Your trading strategy must have an edge]
Now, being consistent with your actions is important in trading.
But that’s not all because you must also have an edge in the markets.
You’re probably wondering:
“What does it mean?”
Simple.
This means your trading strategy must yield a positive result in the long-run.
If it doesn’t, then no amount of consistency will save you because you’ll end up a consistent loser.
Don’t believe me?
Then go down to the nearest casino and bet consistently.
You can be consistent with your risk management, bet size, games you place, etc.
In the long-run, you’ll still lose consistently because you don’t have an edge over the casino.
Agree?
And it’s the same for trading!
You must have an edge in the markets because without it, no amount of consistency, risk management, trading psychology, etc. will save you.
Recently, I’ve created a new YouTube channel called, The Cryptoner.
This is a crypto channel that will teach you the essentials of cryptocurrencies so you can navigate this space—without hype or fluff.
(Similar to how we do things at TradingwithRayner)
Here’s a glimpse of what you’ll learn:
1. What is Bitcoin? (Easy explanation)
2. What is Web 3.0
3. Ethereum Explained for Beginners
Each video is less than 10 minutes long so you can quickly learn something new—without feeling overwhelmed.
Cool?
Then subscribe here: https://www.youtube.com/channel/UCkGcLsXXc0jGA_NHR6Ere7Q?sub_confirmation=1
Price Action Trading: 6 Things To Look For Before You Place A Trade
Learn More 👉 https://www.tradingwithrayner.com/price-action/
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The Essential Guide To Reversal Chart Patterns
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9 Things Professional Traders Do That Losers Don’t
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The Parabolic Stock Trading Strategy Guide
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This is a 31-page trading booklet that contains a specific trading system that has generated 1451.74% since 2000—and has 18 winning years out of the last 20.
Learn More 👉 https://pullbackstocktradingsystem.com/
How To Set Take Profit Orders (The Essential Guide)
Learn More 👉 https://www.tradingwithrayner.com/take-profit-orders/
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How to Draw Fibonacci Retracement: A Step-by-Step Guide for Traders
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Money Flow Index Indicator (The Essential Guide)
Learn More 👉 https://www.tradingwithrayner.com/money-flow-index/
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Three White Soldiers Candlestick Pattern (The Essential Guide)
Learn More 👉 https://www.tradingwithrayner.com/three-white-soldiers/
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[Public Announcement]
I will never DM you personally.
I will not ask to transact in crypto.
I will never ask to manage your money or trade for you.
I am not affiliated (or have any dealings) with any cryptocurrency exchange, services, platform, etc.
My official accounts are listed here: https://www.tradingwithrayner.com/tradingwithrayner-scam/
Anything not listed are fake. Please be careful out there!
[STARTING IN 2 HOURS]
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.
If you have signed up, I'll see you there!
If not, sign up here... https://www.tradingwithrayner.com/sts/
The outcome of a trade doesn't reflect your trading ability.
Your process, mindset, and attitude will.
Do you want to read the price action of the markets like a professional trader?
Then download a FREE copy of The Ultimate Guide to Price Action Trading.
You’ll learn how to better time your entries, “predict” marketing turning points, identify explosive breakout trades about to happen, and much more…
Click the link below and grab your copy, it’s free!
https://www.tradingwithrayner.com/ultimate-guide-price-action-trading/
One of the trading systems which I teach in The Ultimate Systems Trader just hit a new equity high.
If you're interested to learn more, you can join me at my upcoming webinar here... https://www.tradingwithrayner.com/sts/
If you're broke, invest in yourself.
If you want a better life, invest in yourself.
If you need more money, invest in yourself.
No trading strategy, magic pill, or cryptocurrencies can beat that.
[Consistent actions lead to consistent results]
I remembered my first trading system.
It was a Bollinger Band mean reversion strategy.
You buy when the price is at the lower band and sell when it’s at the upper band.
The first few trades I did were winners, then the losses came and I figured this trading strategy doesn’t work.
So, I moved on.
Next, I chanced upon harmonic patterns.
I spent half a year learning how to draw these patterns (guess I’m a slower learner).
At the start, I had some wins but slowly, the losses kicked in and eroded all my profits.
Again, I told myself…
“This trading strategy doesn’t work. Let’s try something else.”
This brought me to the world of price action trading, support and resistance, candlestick patterns, etc.
Again, the same pattern repeated itself.
I had some winners, some losers, and I gave up the strategy.
One day, I asked myself…
“Why does this always happen?”
“Why am I not getting any consistency in my trading?”
“It’s always a few winners and then the losses pile up and take everything away.”
Do you know what I realized?
The problem was me.
I was hopping from one trading strategy to the next.
My actions were inconsistent. And because my actions were inconsistent, I got inconsistent results (duh).
So, don’t make my mistakes.
If you want consistent results from trading, you must have consistent actions.
Stick to one trading strategy, master it—and then move on.
In today's age of social media and distraction, focus is a superpower.
Focus on becoming a profitable trader.
Focus on writing the book you've always wanted.
Focus on losing your extra weight.
You don't need the holy grail, secret sauce, or luck. You just need to FOCUS.
The Essential Guide To Trading Multiple Timeframes
Learn More 👉 https://www.tradingwithrayner.com/multiple-timeframes-trading/
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