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Saving retail traders from self-destruction Learn more: Tradingwithrayner.com Join us: https://t.me/tradingwithrayner
How to use Moving Average to better time your entries, set proper stops, and ride massive trends
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These are 23 lessons I’ve learned from some of the greatest traders…
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[Always be a student of the markets]
Here’s my learning curve as a trader:
I started with indicators, then price action trading.
And for a few years, I thought that’s all I needed because after all, the price is king and that’s all I needed to be a profitable trader.
But that hurts my growth because I tuned out everything else (and limited myself only to price action trading).
When I realized my folly, I quickly went back to being a student of the markets.
So I asked myself:
“What are other winning traders doing to profit from the markets?”
That’s when I got exposed to trend following, systems trading, mean reversion trading, etc.
By expanding my knowledge and incorporating different strategies, I was able to find more trading opportunities (most traders are blinded to).
So here's the deal...
You may (or may not) be a profitable trader but, it doesn’t mean your learning curve is over because you’re always a student of the market.
I encourage you to keep learning and exploring new strategies. Don't limit yourself to just one approach, because there's always more to discover.
Ultimately, the key is to remain open-minded and willing to try new things. It can be scary to step outside your comfort zone, but it's often the only way to achieve true growth and success.
Trading one strategy with discipline is like having a loyal partner.
Having 10 strategies without discipline is like dating multiple partners and ending up alone.
[Follow your trading plan regardless of each trade’s outcome]
When I was a 7-year-old, my teacher would give me a “star sticker” whenever I put in the effort to do my homework, regardless of whether the answer is right or wrong.
In other words, she rewards effort, not the outcome.
If you think about it, this approach is highly suitable for trading.
You should reward yourself whenever you follow your trading plan regardless of whether the trade is a winning or a loser.
So here’s how the star system works…
– Every time you follow your plan, you get 1 star
– Every time you didn’t follow your plan, you get -2 stars
– The goal of the star system is to accumulate 100 stars
As you can see, the focus isn’t to make profits.
Rather, it’s to accumulate as many stars as possible by being consistent with your actions.
Remember, a consistent set of actions lead to a consistent set of results.
Profitable trading is about:
1. Discipline
2. Risk management
3. Mastering your emotions
Do these and you're unstoppable.
[You must trade with an edge (otherwise nothing else matters)]
You might be wondering:
“What is an edge?”
In layman’s terms, an edge is something you do repeatedly that yields a positive result.
For example:
The casino has an edge over the players because with more bets being played, the more the casino earns (in the long-run).
In mathematical terms, an edge is something that gives you a positive expectancy in the long run.
For example:
If every time you toss a coin and it comes up head, you win $2. And if it comes up tail, I lose $1.
In the long run, who will win?
You, of course!
By the way, if you want to learn a new trading system that has an edge in the markets, then check this out.
Now, this is important so I’ll repeat…
You must have an edge in the markets if you want to be a consistently profitable trader.
It doesn’t matter if you have the best trading psychology, risk management, favourable risk-to-reward ratio, etc.
Because without an edge, none of it matters.
Don’t believe me?
Then head down to your nearest casino.
You can bring along the best psychology, apply proper risk management, play games with favourable risk to reward, but in the long-run, you’ll still lose money.
Why?
Because the casino has a mathematical edge over you.
And it’s the same for trading!
IF you want to profit from the financial markets, then you must have an edge!
There's no such thing as failure, only feedback. If you're not seeing the results you want, it's feedback that whatever you're doing isn't working.
So go make the necessary changes and give it another go.
Failure only happens when you quit.
Otherwise, it's feedback.
The Essential Guide To Forex Lot Size
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Discover how to trade the Bull Trap pattern and profit from “trapped” traders
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A detailed guide on how to use stop loss order like a pro even if you have zero trading experience
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The Essential Guide To Breakout Trading (What Nobody Tells You)
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Everything you need to know about trading pullbacks and breakouts successfully
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Ed Seykota took a $5000 account and turned it into $15,000,000. Here are 19 powerful trading lessons you can learn from him…
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Trading as a business: How to successfully start one and avoid the common pitfalls that destroy most traders
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A casino doesn't make money by predicting.
They manage their risk and let their edge play out—and it's the same for trading.
A monster guide to candlestick patterns to teach you everything you need to know about candlestick patterns without memorizing a single one
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4 Techniques To Profit From a Stock Market Correction
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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/
Trend Reversal Trading Strategy Guide
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MACD Indicator Explained
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Candlestick Charts Explained
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A detailed guide on how to use the 200-day moving average so you can better time your entries, improve your winning rate, and ride massive trends
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[Be prepared for a steep learning curve before profitability]
I’m sure you can agree:
Professionals like lawyers, doctors, pilots, etc. spend 5 years (or more) to master their craft.
That’s why in the early years of their career, they typically don’t “see the money” as they are in the learning stage.
But when they get good at it, BOOM, the money starts rolling in—but, it doesn’t happen overnight.
And it’s the same for a professional trader!
You’ll take years to build your foundation, make mistakes, find your edge, and if you survive long enough, you can’t help but get good at it.
So, don’t come into trading thinking you can quit your day job after taking an online course—it doesn’t work that way.
There’s a steep learning curve ahead and you must be prepared for it.
You’ve been warned.
In trading, it's not about predicting the market.
Just like a casino, the key is to manage risk and let your edge play out.
Your success as a trader depends on how well you execute your strategy, not on how accurately you predict the market's movements.
[How to grow a small trading account (that nobody tells you)]
It’s easy to grow a small trading account.
Want to take $500 and double it within 2 days?
Want to make 50% a week?
It’s easy because all you need to do is risk a huge % of your account on each trade, and if the trade goes your way, BOOM—target achieved.
But here’s the thing…
Just because it’s easy doesn’t mean it’s feasible.
Sure, you can double your account in a few days. But, it’s also a matter of time before you give everything back to the markets, and more.
The solution?
Instead of looking for shortcuts, let time and money be on your side.
This means you’ll regularly add funds to your account and compound your returns.
A 1:3 risk to reward won't save you if your winning rate is 10%.
Читать полностью…
[Be realistic and know that you won’t make money every day]
Here’s the thing:
A trading strategy seeks to exploit certain market conditions in order to profit from it.
(For example, Trend Following makes money when many markets are trending together.)
But as you know, the markets are always changing. One moment it could be trending, the next, it could be ranging.
In other words, you’ll make money when market conditions are favourable to you.
When it isn’t, your trading strategy will lose money—which explains why you won’t make money every day (as market conditions change).
Trading doesn't offer a fixed monthly income.
But it can give you the freedom to earn much more if you're willing to put in the work and take calculated risks.
Discover how to use Trend Line to better time your entries, ride massive trends, and “predict” market turning points
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