Ed Seykota, a trend trader who turned $5,000 into $15,000,000 over a 12 year time-period, says
“If you want to know everything about the market, go to the beach.”
If you understand this analogy about how the markets move like the waves in the ocean, you can be a successful trader and ride your profits up and gain tremendous wealth.
Let me explain…
Surfers know that waves will... ››› more
There are so many trading books on stock market strategies, money management and general knowledge on trading the markets.
And funny enough, you could read every single strategy in every trading book and still fail as a trader!
Text-books often forget to mention the three vital emotions that can either make you or break you as a trader!
Let me show you how to overcome these emotions so y... ››› more
“Dear Timon, what makes a successful trader?” - L.P
When L.P asked me this question, I thought it was an easy one to answer because it just takes three things to be a successful trader.
Let's delve into them!
#1 Successful traders know what they want
You must remember that just like babies make mistakes when they first learn to crawl and walk, every trader starts out making the mistak... ››› more
Picture yourself in a Versace suit at a chic mahogany wood desk with plenty of high definition monitors stacked on your walls.
One screen shows you 100s of currency pairs and the other screens just show you charts and more charts!
Isn't this the perception we have about having the best technology, screens, trading platform and so on!
All of this is just trading gumpf!
Now I'm going t... ››› more
"Why do over 80% of Forex traders lose money?"
This is a common question I'm asked on a monthly basis!
Let me tell you three main reasons why so many Forex traders lose money...
Reason #1: Media hype gets them in!
Traders tend to jump straight into the Forex market based on what they see and hear on Bloomberg, CNBC and what they read in the newspaper.
Remember, when you read a news ... ››› more
Sir Isaac Newton said, "What goes up must come down."
And many traders believe this is true in the stock markets.
So, they try wait for the markets to fall down before they buy.
But sometimes it just never goes back to that price level.
And the problem is, they end up missing out on big and profitable moves.
The reality is…
The stock market doesn’t follow laws of gravity
... ››› more
"Hi Timon I'm interested to learn how to trade, but I don't know the first step, therefore my intention with this mail is that I'm in need of a mentor to start off with! I'm very eager to learn - B from The Investors Club."
Well there are a few simple steps which can kick start your trading career!
It's always best to start off learning the nitty-gritties of trading before you commit to any... ››› more
H.M asked a very difficult question this week which, I thought I'd try tackle.
“Hi Timon, what does it take to be a successful trader?"
I'm going to try answer this question and tell you three traits that I think every successful trader should have.
So let's find out what I think it takes to be a successful trader. Trading success is an everlasting journey
We all know that the future... ››› more
I don't know about you, but I'm tired of hearing from people how difficult trading is.
They say things like, 'You might as well go to a casino', 'go big or go home' or 'trading is the biggest profit scam on earth'.
Only those who've not found trading successful would say these absurd statements!
I've been making a living from trading for the last seven years, and it's been an enthralling ... ››› more
Sometimes when you have a winning trading system and it looks too perfect to fail, the worst case scenario occurs.
It goes completely against you and you end up taking a huge knock on your portfolio.
As a Forex trader, there's nothing more frustrating than watching the “sexiest” trading setup turn ugly…
Well, there's a simple solution to this…
You see most of the times when ‘s... ››› more
Every trader loses money at one stage or another.
Sometimes things happen in the markets that are outside of your control, and are impossible to predict.
However, although you can't control the outcome of every trade, by understanding why things go wrong you control how you deal with your inevitable losers to limit your risk and maximise your reward over the long-term.
Let me explain..... ››› more
You're in a plane 1000's of metres off the ground.
You've psyched yourself up, parachute strapped on.
You have your altimeter in your hand and the rehearsed procedures firmly embedded in your head.
A thin trail of smoke whizzes past, exhaust jet fuel fills your nostrils and the, sound of the wind coming off the propellers confronts you as you walk towards the exit of the plane.
It's ... ››› more
There's a leopard lurking behind the bushes in a crouch position, waiting all day for just the right moment to pounce on its prey and bring the hunt back to its family.
Knowing it can outrun a buck, it still waits for a vulnerable and injured animal so it will have a higher probability of being successful with its catch.
Today, I’m going to tell you three techniques w... ››› more
Faith, luck and other super-natural phenomenon! So many people depend on these things when trading.
And the fact is its human nature. When you don't know what's going on or you're unsure about something, you search for answers whether they're true or false.
I'm sure there's times when your imagination has run away with you. Times when you’ve seen things which aren’t there. But today I wa... ››› more
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