Week of 4/11/16: The “Secret” to Success
This is what we discussed in class this week with our advanced members:
Dissecting the Entry Process
- We look at momentum showing on our indicator with the GBP being heavily sold and the USD being heavily bought. We pair those together for a GBP/USD SELL.
- We discuss the importance of adapting a trading plan to YOU.
Secret to Success: There Are No Secrets
- There are no secrets in trading, no hidden truths and no elitist conspiracies.
- Those who succeed do so because they followed the process which leads to success.
- Those who fail do so because they didn’t follow the process.
More Than “System”
- You must be able to differentiate between a trading system and a trading operation.
- Successful traders give 90% of their attention to their overall operation and 10% to the actual system. The business of trading is far more important.
- That is inverse when it comes to amateur traders. They spend most of their time on the “system.”
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