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[Get out of demo trading and start small]
Now…
It doesn’t matter whether you want to start with $100, $500, or $1,000.
What matters is that you get out of demo trading.
Start trading live.
Start trading small.
And start practicing good trading habits.
I know the feeling of being nervous when live trading for the first time, and that’s okay.
But if you start small first to build confidence, instead of going all-in with your family’s wealth (I damn hope not)…
You’ll find yourself in an excellent spot to start trading and put yourself in an environment to keep on improving as a trader.
Sounds good?
Never trust anything. Always verify everything.
Especially in trading.
[Don’t demo trade for too long]
So, how long should you demo trade?
One month?
Four months?
One year?
The truth is that it depends…
If you’re a day trader, then you may want to consider demo trading for one month
If you’re a swing trader, however, then you may want to consider demo trading for three months
The concept is that the higher the frequency of your trades are, the less time you should do demo trading, and if the frequency of your trades is lower then
it’s the opposite.
Remember…
Your goal in demo trading is not just to test whether your strategy works.
But to see whether or not your trading plan or trading routine is for you so that you can make tweaks along the way.
Hey hey, what’s up my friend!
Over the last few months, I’ve secretly 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.
Check it out here: https://www.youtube.com/channel/UCkGcLsXXc0jGA_NHR6Ere7Q?sub_confirmation=1
Exponential Moving Average Strategy Guide
Learn More 👉 https://www.tradingwithrayner.com/exponential-moving-average/
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[You don’t need to monitor your trades the whole day]
You might have heard the saying...
"You need to monitor your trades all the time to be a successful trader."
That’s false.
Instead, you need a trading routine that works. One that doesn’t require you to stare at the charts all day.
So here’s a template you can use…
Example 1: You have a full-time job
• Weekends = Identify potential trading setups for the week
• Before work = Identify setups that are triggered and place your orders
• Lunch time = Check your portfolio and see if your trades are executed
• After work = Journal and review your trades
Now, what if you are a day trader?
Example 2: You are a day trader
• Before market hours = Identify potential trading setups for the day
• Market hours = Set alerts when the price comes to your level and trade it according to your plan
• After market hours = Journal and review your trades
Now…
Regardless of the type of trader you are, you must devote time to planning.
Because if you fail to plan, then you plan to fail.
Things I ask myself before a trade:
1 What's the market structure, range or trend?
2 Where are the major SR areas?
3 Can I lean my stops against SR?
4 Where would opposing pressure come in?
5 How is price moving, chop or clean?
6 Volatility expanding or decreasing?
[When it comes to trading indicators, less is more]
Here’s the thing:
Having more indicators on your chart does not increase your chances of a winning trade but only gives you analysis paralysis and not taking the trade.
You’d probably get better results if you only had a handful of indicators on your chart!
That’s why we want to have an indicator that can single-handedly:
•Determine your entries
•Determine how you’ll take profits
•Determine your stop loss
Having fewer indicators keeps your charts clean and helps you make faster decisions which will make your trading process much more efficient.
If you want to grow a $500 to $1000, don't be a trader.
Get a job.
It's faster and has lower risk.
[The longer it ranges the harder it trends]
If you notice the price has been ranging for a long time, you’re not alone.
Traders all around the world will be seeing the same charts as you.
Some will be queuing to short the resistance, and some will be trading the breakout.
If the price does trade above the resistance, shorts will get squeezed, and breakout traders will hop on the bandwagon.
That’s why price trend for a sustained period of time, due to the imbalance of buying/selling pressure.
$100 to $200 is a 100% gain.
$1m to $2m is a 100% gain.
You need money to make money in trading.
Trading Psychology: 3 Profitable Tips To Trading Success
Learn More 👉 https://www.tradingwithrayner.com/trading-psychology/
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The 200 Day Moving Average Strategy Guide
Learn More 👉 https://www.shootingstocks.com/200-day-moving-average/
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A Simple Trading Strategy with a winning rate of 88.89%
Learn More 👉 https://www.tradingwithrayner.com/trading-strategy-winning-rate-of-88-89/
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The Definitive Guide to Trading The Bull Pennant Pattern
Learn More 👉 https://www.tradingwithrayner.com/bull-pennant-pattern/
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10 Price Action Trading Tips You Can Learn in 10 Minutes (So You Can Get Results Fast)
Learn More 👉 https://www.tradingwithrayner.com/price-action-trading-tips/
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The Essential Guide To Fibonacci Trading
Learn More 👉 https://www.tradingwithrayner.com/fibonacci-trading/
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Bullish Candlestick Patterns Strategy Guide
Learn More 👉 https://www.tradingwithrayner.com/bullish-candlestick-patterns/
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Seeing your account go nowhere can be difficult
But rem, you need time for your edge to play out
You won't be a profitable trader after taking a course
You don't get a baby in 1 month by getting 9 women pregnant
Rome isn't built in a day—and it's the same for your account
Best Stock Trading Books (Must Read)
Learn More 👉 https://www.tradingwithrayner.com/best-stock-trading-books/
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Inverse Head and Shoulder Pattern Trading Strategy Guide
Learn More 👉 https://www.shootingstocks.com/inverse-head-and-shoulders-pattern/
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Essential Forex Indicators (Make Your Life Easy)
Learn More 👉 https://www.tradingwithrayner.com/essential-forex-indicators/
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Hey hey, what’s up my friend!
Over the last few months, I’ve secretly created a new YouTube channel called, The Cryptoner.
Subscribe here: https://www.youtube.com/channel/UCkGcLsXXc0jGA_NHR6Ere7Q?sub_confirmation=1
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. Bitcoin 101
2. What is Web 3.0
3. Ethereum Explained for Beginners
4. What is a crypto wallet and how it works
5. What is decentralized finance (DeFi) and why it matters
By the way…
I’m not the one producing these videos.
Instead, I’ve hired experts to produce these animation videos so it’s easier for you to understand.
Cool?
Then get started now: https://www.youtube.com/channel/UCkGcLsXXc0jGA_NHR6Ere7Q?sub_confirmation=1
The Bull Trap Trading Strategy Guide
Learn More 👉 https://www.shootingstocks.com/bull-trap-trading-strategy/
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Mean reversion Trading Strategy That Works (86.84% Winning Rate)
Learn More 👉 https://www.tradingwithrayner.com/mean-reversion-trading-strategy/
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How to Draw Fibonacci Retracement: A Step-by-Step Guide for Traders
Learn More 👉 https://www.tradingwithrayner.com/how-to-draw-fibonacci-retracement/
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[How to use trading indicators like a pro]
You don’t want to have multiple indicators from the same category because they are correlated and doesn’t provide any new information.
That’s like trying to get your wife pregnant in one month by “firing” incessantly. It doesn’t work.
And it’s the same for trading.
So, the rule of thumb is this:
Have only one indicator for each purpose.
I’ll explain…
If you want to trail your stop loss, you can use either the Moving Average or Chandelier Exit — but not both.
Or if you want to time your entry, you can use either the RSI indicator or Stochastic, but not two together because they have the same purpose.
Does it make sense?
Trading doesn't solve your money problems—it amplifies it.
Читать полностью…
[How to use trading indicators like a pro]
A mistake almost all new traders make is to add many indicators onto their charts, regardless of whether the indicators have a purpose, or not.
But as you know, having more indicators doesn’t mean a thing. Instead, they only add “noise” to your trading and make things more confusing.
So, the rule is this:
Every trading indicator on your chart must have a purpose.
For example…
If you want to identify the trend, then you can consider the Moving Average.
If you want to time your entry, you can consider Stochastic or RSI.
If you want to trail your stop loss, you can consider Chandelier Exit or Moving Average.
So, if there’s an indicator on your chart and you can’t find a purpose for it, exterminate it.
I wasted years trying to find a perfect trading system.
Then I realized it doesn't exist.
Instead, it's about knowing your goals as a trader and then adopting the right system that fits with it.