Problem — This is the stage where traders feel they have found the «perfect» trading system or strategy and they are «finally» ready to
start making money in the markets.
Focusing on the higher time frames is probably the easiest thing you can do to immediately increase the probability
of making money in the market as you trade.
There's a reason all professional traders practice this discipline; when you get serious
about making money in the market, you will have to get serious about tracking and analyzing your trading.
Making consistent money in the markets takes a clear and calm mind, and if you are preoccupied
with making money in the markets to quit your job or pay your rent, you are unlikely to have the proper trading mindset.
GLEN ARNOLD, PhD, used to be a professor of investing but concluded that academic life was not nearly as much fun, nor as intellectually stimulating,
as making money in the markets.
The stock market goes up, on average, over the long term, and so long term investors can continue to
make money in the market even without profiting from others» failures.
This is the stage where traders really try to find that «Holy - Grail» trading method that they «know» must be out there... after all, someone is
making money in the markets so there must be some «ultimate» trading system out there (or so they think).
However, many traders sabotage their own efforts at
making money in the markets simply because they don't think like a pro trader; they don't believe they can make consistent money in the markets.
Seriously, go play golf or something, don't sit there and think about your trade after you enter it, stop thinking for a while and you might
just make some money in the markets.
Typically, traders who think too much about
making money in the markets end up «forcing» the issue by risking more than they know they should or over-trading.
People who can apply more patience and discipline in learning and mastering their trading method before they go live will naturally have a far easier
time making money in the markets than those who just jump in head - first with no plan of action.
It covers the gamut, the explosion of content, the role of market makers (in this case Apple — though to a lesser mentioned extent, Google), the use of price as a lever and the challenges
of making money in markets that have become so large, diverse and saturated.
It doesn't matter how much money you have, it doesn't matter how good of a technical analyst you are, and it doesn't matter how much you «think» you know about trading, if you don't have the right mindset, you will
never make money in the market.
Thus, the 80/20 rule in trading is best applied by combining a simple trading strategy and a strong focus on money management and psychology, the synergy of this combination is a very potent force
for making money in the market.
Most people who excel at trading don't feel like all their «eggs» are in the trading basket, and they won't be homeless if they do
n't make money in the markets.
GLEN ARNOLD, PhD, used to be a professor of investing but concluded that academic life was not nearly as much fun, nor as intellectually stimulating,
as making money in the markets.