McTrading Lounge, LLC Blog.

Identify the trend first. March 25, 2019

When you know how to clearly identify and confirm an up or down trend; that is the first step to building confidence and consistency in profits.

The Prep work

Keep it simple.

1/11/19 Morning recap

Check out this great video

Recap of training

From the coach:

Why do human beings like things to be complicated?

  • Yes.  Trading is simple.  Why aren't more people doing it then?  Fear  and the belief that nothing in life comes easy.
  • Much of the roadblocks in a traders results is in the very beliefs that they hold.
  • Keep your trading strategy simple.  Buy and sell by watching price only.  Indicators are only meant to be training wheels.  Take them off.

Drawing tools are still the best indicator

Ask the coach:

How do I stay consistent with my profits?

1.  Stop chasing the holy grail strategy.  Choose two commodities & two indices to trade.  Study & learn them. 

2. Trade your simulated platform in the same manner that you would trade your live account. Use your simulated platform smart.

3. Emotional mastery is the key to your success as a trader. Ask yourself this question prior to trading that day; "Why am I taking this trade?

4. Watch your habits.  Is your daily routine calming or rushed? 

You are already a day trader

MS Pacman Video games

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