Have you ever traded a demo account successfully and then when you transitioned over to a real account, you either blew it out or cannot perform as perfect as trading a demo account? Why did this happen? Well, you were letting the money control you on the real account rather than you controlling how you thought about it (like you did on demo). Don’t let it affect you. You should just remembered it as just numbers, nothing more, just numbers on a computer screen.
What you have to understand and truly believe, is that trading is a game that is almost entirely mental. How you process the feelings that come along with trading, your thoughts, your hopes and fears.
Those who have the opportunity listening to Tom talking about his experience in rock climbing, will know this important lines that was shouted out by the coach to him when he is almost falling: TRUST YOUR SHOES!
You have to "trust" the skills that you have acquired from us (through certain period of training), you have to trust the trading plan, you have to understand the pay back pay out cycle from market is unavoidable.
Your mindset really has everything to do with your trading performance. Whether you think you can become a successful trader or you think you can’t, you’re probably right. The first step in achieving anything in life is to convince yourself you can do it and really believing it.
Your goal as a trader should be to work so hard and be so dedicated to mastering your craft, that when the perfect opportunity comes along, you hardly even have to think, you literally just execute the plan. You can nail this down all the way to the expectation of the trade. Win or lose, you can know what to expect before you pull the trigger. Doing this, will allow you to eliminate fear and other negative emotions from dictating your behavior in the market.
‘Behind the scenes’ of any wealthy or successful person is thousands of hours of hard work and repetition. While the poor man was playing video games or binge-watching Netflix, the rich guy was putting in the ‘hard yards’, doing the ‘boring stuff’ that most people don’t want to do.
Understanding the market that you are trading is important. In Sniper Club, we are trading Crude oil and currency futures.
If you have the time to trade Europe opening, we have 3 BBT waves opportunities (one of the few strategies from sniper club) to swing in the trend direction this afternoon. (As we are trading small time-frame, the trend mentioned here are a rather small trend)
For newbies, I always suggested them to start with 2 lots per trade. For this afternoon, on 2 lots each trade, the return is USD540 or SGD734. First trade started at 4:29pm and the last trade was done at 4:42pm. You can now close your computer and enjoy your own leisure hours or enjoy family time.
** I would always suggest newbies to use $300/day as a guide, that would be $6,000 a month. When one is ready, you can up-size your position, while your trading style remain unchanged.
I would always suggest to all Snipers to post their trades on the Facebook. This is a way for me to monitor their progress and also for them to use this external force to help them to stay "discipline".
As you can see from the above chart, the entry is simple, perhaps the simplest part of trading, so don’t over complicate the trading process. I do know that some of the traders would pile up other indicators or even oscillators that they pick up from elsewhere and throw them all into my originally plain and beautiful chart. "EGWTW"
Now, do note that trading is about probability, it doesn’t mean a guaranteed win every time. It just means that over a large enough series of trades, that edge will give you a better than 50%-win rate, which really is all you need if you’re managing your money right and not over-trading.
There are basically two parts to setting yourself up for trading success: The ‘work’ of learning how to trade the market and then the implementation of your trading plan. Still don't know how to do it? Wait for our next FX Course :D