What you're about to read:
R = Results
E = Education
A = Advice
L = Leverage
Last weekend, I attended the “The Pursuit of Wealth and Happyness” event.
Multi-millionaires took the stage and revealed their golden nuggets of achieving huge success.
One gentleman that spoke was Brian Walsh.
He is #1 expert on making big money on the internet and is the founder of the REAL entrepreneur.
Brian has spent the last 42 years achieving mediocre success. But that's when he said enough was
enough, and so he adopted a new system.
It's called, The REAL success system!
This system has helped him boost his profits over 20 fold, in just one year!
And while I was listening to it, I couldn't help but relate it to trading and how I've been using the system to make money trading the markets for many years.
Today I want to delve into “The REAL Success System” to you and show you how it can boost your trading success.
R = Results
The first thing you must do once you have a winning trading strategy, is to back test and forward test the strategy to check the results.
Make sure you look at least 20 different past examples to see where your trading strategy would’ve lined up. This way you can study the results and see whether your trading strategy would’ve brought you more profits than losses.
After back-testing the strategy, you must then forward test at least 20 trades to see if the system going forward is a success or not.
You’re looking for profitable results at the end of the back testing and forward testing, and only this will tell you If you have a strategy that will make you big money for your future.
E = Education
Education is key because you just can’t know enough!
Even though I’ve been in the markets trading for 11 solid years, there’s still not one day where I don’t learn something new about trading.
And take Warren Buffett and George Soros. They’ve been in the markets for many decades, and they’re still learning every single day about investments.
You must keep reading different trading tips, secrets and tools from different places (cough Money Morning) that you can adapt to your trading strategy to make it even more profitable…
A = Advice
I think one of the most important lessons I learnt as a novice trader, are from other traders!
The trick is to not stop asking questions and getting advice from other traders…
No matter how simple or “stupid” you think the question is, keep asking.
You can go onto forums, websites, share chats or even the Investorsclub.co.za and you can ask as many questions as you like for FREE.
Getting advice and asking questions will jack up your trading knowledge even more, which will help your trading journey be even more profitable for life.
L = Leverage
The last letter in The REAL Success System is the letter L for Leverage. That's right, once you've mastered the first three steps, you need to build on everything you've learned and leverage your results to maximise your gains!
When it comes to trading, leverage is a tool where you’ll simply gain control of a huge sum of money and only pay a fraction of the price for it.
When you trade financial instruments like Contracts for Difference (CFDs) or Single Stock Futures, one of the major motivating factors for this is the money multiplier effect that's at work. This money multiplier effect is leverage (gearing).
Always remember,
"Wisdom yields Wealth"
PS: Click on the link for more tips, tools, tricks and secrets!
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