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Saving retail traders from self-destruction Learn more: Tradingwithrayner.com Join us: https://t.me/tradingwithrayner
Ed Seykota took a $5000 account and turned it into $15,000,000. Here are 19 powerful trading lessons you can learn from him…
Learn More 👉 https://www.tradingwithrayner.com/ed-seykota-trading-lessons/
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Trading as a business: How to successfully start one and avoid the common pitfalls that destroy most traders
Learn More 👉 https://www.tradingwithrayner.com/trading-as-a-business/
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[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”.
Professional traders:
Manage risk
Stay humble
Trade with an edge
Continuously improve Winning rate
Know they can be wrong
Focus on what they do best
Never let ego get in the way
Know when to stay out of the markets
[Consistent actions lead to consistent results]
I remembered my first trading system.
It was using Bollinger Bands—buy when the price is at the lower band and sell when it’s at the upper band.
Using this approach, I had 3 winning trades in a row!
I thought to myself…
“This is it!”
“This is wive life-changing money.”
“I can’t tell anyone less they copy what I’m doing.”
How naive.
Because the next 5 trades were losers!
So I concluded this trading strategy doesn’t work and look for something better.
Then, I chanced upon harmonic patterns.
(Basically, you use tools like Fibonacci retracements and extensions to draw patterns like Crab, Bat, Duck, Dinosaur, etc. as they’re supposed to predict market turning points.)
I spent 6 months learning how to draw these patterns.
As you can tell, I’m a slow learner.
And guess what?
The same thing happened!
I had a few winning trades followed by a series of losses.
Again the voice in my head said…
“This trading strategy doesn’t work. Let’s look for something else.”
So I went around searching for the holy grail.
I’ve tried different indicators, chart patterns, volume profiles, etc.
And the results were similar.
At this point, I’m starting to doubt myself.
I have questions like…
“Why does this always happen?”
“Why am I not getting consistent results in my trading?”
“Why do I make money at the start only to lose it all again?”
Now, do you know what I realized?
It’s me.
The problem lies in me.
That’s because I was hopping from one trading strategy to the next.
My actions were inconsistent. And because my actions were inconsistent, I got inconsistent results. Like duh!
So the bottom line is this…
If you want to be a consistent trader, then you must have a set of consistent actions.
Find a proven trading system that works, and follow the rules day in and out. If you can, consistent profitability is not far away.
And if you want to learn a proven trading system that works, then check this out.
Cheers,
Rayner “the-consistent-trader” Teo
If trading is 80% psychology, then monks will rule the world. Instead, it's a combination of math, logic, and psychology.
Читать полностью…
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.
No market trends all the time.
No range sustains all the time.
No strategy works all the time.
That's why you MANAGE RISK all the time!
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/
Discover how to use Trend Line to better time your entries, ride massive trends, and “predict” market turning points
Learn More 👉 https://www.tradingwithrayner.com/trend-line-trading/
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Discover 5 proven trailing stop loss techniques to help you reduce risk and ride massive trends
Learn More 👉 https://www.tradingwithrayner.com/trailing-stop-loss/
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Discover swing trading strategies that work so you can profit in bull and bear markets
Learn More 👉 https://www.tradingwithrayner.com/swing-trading-strategies/
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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.