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I was thinking about an article I read some time ago that 90% of traders who ever trade lose their account and that 10% actually go bankrupt. If the first number doesn't scare you then the second definitely should. |
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Hey Joe! Do you think adaptation to the realities of the market is the most important thing? Many times in the past I’ve written about the need to adapt, the need to be able to change your behavior relative to the market because the markets are ever changing. |
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From a historical perspective since 1900 there have been 3 Secular Bull Markets and 3 Secular Bear Markets as shown by the tables below of the Dow and S&P 500. As you can see during a Secular Bull Market the Average Annual Return (highlighted in red) is considerably higher than during a Secular Bear Market (highlighted in blue). Thus the long term Buy and Hold strategy that worked well in the 1980's and 1990's for investors may have not worked very well during the Secular Bear Markets of 1906-1921, 1929-1949 and 1966-1982. |
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During the first four months of trading, I would always wait for confirmation before getting into a trade. If the stock were tanking, I would wait for two green candles when the second candle’s price broke above the high of the first green candle. I would tell myself to click the buy button and I did without hesitation. I had no fear. |
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What would you rather have the perfect trading system or the perfect soul-mate? Don’t answer that out loud! I would venture to say that most traders are so “into” their trading that they would hesitate and ponder that question. By the way, the answer is the perfect soul-mate. That’s because there is no perfect trading system. |
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Be warned. “Part of overall winning is taking losses along the way.” “If you have 55% winning trades, you’ll win in the long run.” We’ve heard it said a million times in a hundred different ways. In any trading system, we will experience losing trades as well as winning trades. We know this. |
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It’s why we all signed up for the battle against the markets. In the beginning, we read an article or saw a sales leaflet about a guy who took his last few dollars and parlayed it into millions in the markets. It usually involved a simple secret that when revealed to you (for a few hundred dollars), you could have the same success. Most of the time, we would chuck the article/leaflet into the trash as garbage, but at some low ebb in our psyche, the article read like the answer to our prayers. |
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Some people like to trade the same stock over and over throughout the trading day. Traders tend to get a good feel for how one particular stock moves. A trader becomes familiar with its reoccurring support and resistance areas from trading the same stock repeatedly for a week, month, or even year. |
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Are you searching for answers to become a master trader? Or are you still trying to be a profitable trader? Trading is not easy as most people think, why is that out all those who try, over 90% fail? My trading experience expands 2 decades, and also being a trading mentor I have also interviewed many traders, many of them have struggled to earn any profits after so many years of trading and yet they continue to fund their trading accounts. |
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If you are experiencing a run of wins, don't get getting carried away in the flush of success. You don't want to give it all back. Over Trading is the greatest single cause for losses in the markets. Whether you are winning now or losing now, ninety-five or more percent of all traders trade too often. |
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