I got a private message yesterday on Twitter @Timonr.

“I’m trying this trading thing out when ever I find a second in the week.

So far it’s hardly getting me anywhere. Any tips?”

Ye… Don’t try. DO!

Let me ask you something…

Do you own a business or have a job?

Do you know how to get by every month putting food on your table?

If YES, then you’ll know for a FACT that:

“trying” to do your job.

“Trying” to run a business.

“Trying” to eat every day.

Is going to lead to failure and a disaster.

You have a higher chance at making no/little sales, becoming an undesirable employee and physically becoming unhealthy and unattractive.

Same goes with trading.

Trading isn’t a trying business. It’s not something you do when you have a found a minute in your week or day.

You’re going to get nowhere by “trying” with such little effort.

If you really want to take this seriously and make an actual living, then you’ll need to have a PLAN. Scratch that!

You’ll need to have 3 PLANS.

A daily, weekly and yearly plan.

#1: SET YOUR

YEARLY PLAN

See this as the big game plan.

In one year what do you wish to achieve from your trading.

See your goals before you act on them, and you’ll find you’ll follow your path accordingly.

Here are some goals you should set for the year.

If you want to be more accurate with your yearly plan, make sure you have a proven and winning trading strategy to have a better expectation on what to achieve for your trading outcome and performance.

It’s not easy building one yourself.

If you want to get started right away, just know that the trial, error and level of optimization can take YEARS.

Once you’ve optimised your strategy and you find it works, then you’ll need to back test 20 trades, forward test (with paper money) 20 trades and then real test (live account) 20 trades.

I don’t want traders to feel discouraged with the process.

I understand fully, it’s not in everyone’s personality to take the time and effort like I have done over the last two decades to find, optimise and refine a trading strategy.

Which is why I offer my entire MATI Trader System Programme for those who want to speed up their trading performance from the get go. Click here to own the programme if you’re one of the few MATI Traders who haven’t downloaded it yet…

Once you have your yearly plan, you can move on…

#2: SET YOUR

WEEKLY PLAN

There are two objectives I have with a weekly plan. Analyse and report and identify major trends.

Analyse and report

This is where you’ll log in to your live account.

Open your portfolio account and view your trading performance over the last week.

See what is in the green and what is in the red.

Answer these questions:

How many trades are winning and how many are losing?
Have I held onto my trades LONGER than I should i.e 7 weeks?
(Write down which trades are over extended to close in the next week.)
Have I plotted all my trades in my trading journal and populated the portfolio chart so I can see how I’m progressing?

Identify major trends

Once a week you can also quickly skim through the main indices and charts, to give you an idea on where the financial markets are trending.

I like to look the:

Main indices: ALSI40, SP500, CAC, DAX, NIKKEI, UK100 etc…

Main commodities: Gold, platinum and Brent Crude.

Main cryptos: Bitcoin, Ethereum, Tron etc…

Local indices: Resources, Property, Industrials etc…

This will prepare you for the week and will give light on where markets are MORE likely to head.

They can also give you an indication on whether you may expect a reversal due to your trading strategy signalling potential change.

#3: SET YOUR

DAILY PLAN

Ok, if you don’t want to look at the markets everyday – that is fine. I understand you have other priorities.

But I would urge you to have a daily plan for every 3 days or so.

And during this time, is where you’ll achieve 2 goals:

Trading analyses and trading execution.

Trading analyses

This is vital to spot and identify high probability trades that are lining up according to your trading strategy. Write them down on a sticky note (which I still do) and then set your alerts for entry.

Or you can get a general idea on how much time will be needed, before a trade actually lines up.

Trading execution

The trade has lined up, looks good and ready to go.

Set your entry, stop loss, take profit and volume (no. CFDs or spread betting value) and get into your trade.

So in closing… You’ll need to take this more seriously. Don’t blame me if your portfolio isn’t picking up because you didn’t follow the right steps you need to take.

This isn’t child’s play and all the responsibility to create your trading future is in your fingertips.

So remember:

SET YOUR YEARLY PLAN:

No. trades, No. winners, No. losers, Win rate, % Gain per year

SET YOUR WEEKLY PLAN:

Analyse, report and identify major trends

SET YOUR DAILY PLAN:

Trading analyses & execution

Set these three plans and work towards them and you stand a better chance at making it in the trading world.

Sunday, 30 October 2022

A TRADER without these 3 PLANS will NOT succeed

I got a private message yesterday on Twitter @Timonr.

“I’m trying this trading thing out when ever I find a second in the week.

So far it’s hardly getting me anywhere. Any tips?”

Ye… Don’t try. DO!

Let me ask you something…

Do you own a business or have a job?

Do you know how to get by every month putting food on your table?

If YES, then you’ll know for a FACT that:

“trying” to do your job.

“Trying” to run a business.

“Trying” to eat every day.

Is going to lead to failure and a disaster.

You have a higher chance at making no/little sales, becoming an undesirable employee and physically becoming unhealthy and unattractive.

Same goes with trading.

Trading isn’t a trying business. It’s not something you do when you have a found a minute in your week or day.

You’re going to get nowhere by “trying” with such little effort.

If you really want to take this seriously and make an actual living, then you’ll need to have a PLAN. Scratch that!

You’ll need to have 3 PLANS.

A daily, weekly and yearly plan.

#1: SET YOUR

YEARLY PLAN

See this as the big game plan.

In one year what do you wish to achieve from your trading.

See your goals before you act on them, and you’ll find you’ll follow your path accordingly.

Here are some goals you should set for the year.

If you want to be more accurate with your yearly plan, make sure you have a proven and winning trading strategy to have a better expectation on what to achieve for your trading outcome and performance.

It’s not easy building one yourself.

If you want to get started right away, just know that the trial, error and level of optimization can take YEARS.

Once you’ve optimised your strategy and you find it works, then you’ll need to back test 20 trades, forward test (with paper money) 20 trades and then real test (live account) 20 trades.

I don’t want traders to feel discouraged with the process.

I understand fully, it’s not in everyone’s personality to take the time and effort like I have done over the last two decades to find, optimise and refine a trading strategy.

Which is why I offer my entire MATI Trader System Programme for those who want to speed up their trading performance from the get go. Click here to own the programme if you’re one of the few MATI Traders who haven’t downloaded it yet…

Once you have your yearly plan, you can move on…

#2: SET YOUR

WEEKLY PLAN

There are two objectives I have with a weekly plan. Analyse and report and identify major trends.

Analyse and report

This is where you’ll log in to your live account.

Open your portfolio account and view your trading performance over the last week.

See what is in the green and what is in the red.

Answer these questions:

How many trades are winning and how many are losing?

Have I held onto my trades LONGER than I should i.e 7 weeks?

(Write down which trades are over extended to close in the next week.)

Have I plotted all my trades in my trading journal and populated the portfolio chart so I can see how I’m progressing?

Identify major trends

Once a week you can also quickly skim through the main indices and charts, to give you an idea on where the financial markets are trending.

I like to look the:

Main indices: ALSI40, SP500, CAC, DAX, NIKKEI, UK100 etc…

Main commodities: Gold, platinum and Brent Crude.

Main cryptos: Bitcoin, Ethereum, Tron etc…

Local indices: Resources, Property, Industrials etc…

This will prepare you for the week and will give light on where markets are MORE likely to head.

They can also give you an indication on whether you may expect a reversal due to your trading strategy signalling potential change.

#3: SET YOUR

DAILY PLAN

Ok, if you don’t want to look at the markets everyday – that is fine. I understand you have other priorities.

But I would urge you to have a daily plan for every 3 days or so.

And during this time, is where you’ll achieve 2 goals:

Trading analyses and trading execution.

Trading analyses

This is vital to spot and identify high probability trades that are lining up according to your trading strategy. Write them down on a sticky note (which I still do) and then set your alerts for entry.

Or you can get a general idea on how much time will be needed, before a trade actually lines up.

Trading execution

The trade has lined up, looks good and ready to go.

Set your entry, stop loss, take profit and volume (no. CFDs or spread betting value) and get into your trade.

So in closing… You’ll need to take this more seriously. Don’t blame me if your portfolio isn’t picking up because you didn’t follow the right steps you need to take.

This isn’t child’s play and all the responsibility to create your trading future is in your fingertips.

So remember:

SET YOUR YEARLY PLAN:

No. trades, No. winners, No. losers, Win rate, % Gain per year

SET YOUR WEEKLY PLAN:

Analyse, report and identify major trends

SET YOUR DAILY PLAN:

Trading analyses & execution

Set these three plans and work towards them and you stand a better chance at making it in the trading world.

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