What is The Best Forex Indicator - 2014 VERSUS 2020

5 Top Trades For 2020

With great trading comes great responsibility and a little sacrifice.

It is not something you should take lightly, into your life.

This is a forever business where you can either screw it up or you can make a success from trading.

Before the year is up, I’m going to share with you my 5 top trades, you’ll need to take in order to achieve your trading goals for 2020 starting with…

Trade #1: 
Heavy nights out

Have you ever gone out in the week, downed a couple of beers and shots with your friends and then regretted it the next morning?

The next day, feel groggy, tired and you probably will feel like writing the day off to recover.
As a trader, you have got to be more responsible.

It can take just of those day’s where you miss out on that trade that could’ve taken your portfolio into a positive portfolio territory for the month.

Take this trade.

“I will trade nights out in the week and instead, I will prepare for the next trading day”

Trade #2: 
Netflix and chill

How many hours do you spend on social media and TV? 

3, 4, maybe even 5 hours a day? 

I’m asking you to just cut out just half an hour out of those 5 hours to spend it on trading instead. 

Just take half an hour to back test and forward test your trading strategy on other markets.

You might just find the one extra profitable market, to add onto your watch list which could help you boost your win rate. 

Take this trade.  

“I will trade out, of the time spent on social media and TV, just half an hour a day to focus on trading for my financial future”

Trade #3: 
Revenge trades  

This next one, is quite common for a new trader. 
A trade lines up, the trader follows the rules and gets into the trade as they should. 

Next day, the trade goes against them, taking them out for a loss. 

The new trader then feels that this situation is unacceptable. 

“Nobody takes my money and runs.” 

Without thinking twice, they punch in a couple of buttons on their trading platform, to get into another trade.   

At this point, they want nothing more than to just take revenge and make up for that small trading loss. 

However, this time, he doesn’t follow his strategy and forgets to put in a stop loss.

The result: Another loss is taken, but this time it’s bigger. 

Losing comes with the territory. Your historical track record should tell you that. When you take an impulsive trade, you’re doing two things.  

1. You’re setting a precedent to take impulsive trades for the future. It’s these type of trades, that will cause you to blow your account.  

2. You’re fooling yourself with this present oriented way of thinking. 

So, take this trade…

“I will trade revenge trades and instead, I will step away, get a drink, calm down and I will wait for my next trading signal to kick in.”

Trade #4: 
Listening to others

Look up any trading group on Facebook or on Skype.

You’ll see similar comments such as, 

“I just bought Old Mutual, what price should I get out at?.”

“Dude I would get out of your trade, if I were you.” 

“You must buy Bitcoin now, it’s going to $50,000 this year.” 

I don’t know about you but, I’ve never heard of a trader who’s made a success from listening to a whole lot of random people.  

The only thing you should ever listen to is your historical track record based on your proven trading strategy.  

In fact, I only base my decisions on my 18 year traded and tested MATI Trader System and that’s it!

Everything else is noise that is detrimental to your trading. 

Nobody cares about your money more than you, so make sure you be wary with who you listen to.  

Here’s a trade I want you to take.  

“I will trade listening to random people and instead, I will only listen to my winning trading strategy which tells me when to get in, hold and out of my trade.”

Trade #5: 
Wasting money

Richard Branson said it best at one of the summit’s I attended.  

Here was his analogy. 

“If I’m given R1,000,000, and I spend it on luxuries the money will go. If I invest the money wisely, I’ll have the opportunity to grow it.” 

The same goes with every time you get a pay cheque. Before you spend it on restaurants, gifts and holidays – make sure you invest in yourself first.  

As soon as you get paid, deposit a portion of your money into different investment streams. 

Maybe 5% of your savings can go into trading, while 10% goes into investing. Whatever you can afford to risk, make sure you pay yourself first  

Here’s the trade I want you to take.  

“I will trade spending on unnecessary things and instead, will deposit a portion of the funds into my trading account each month.” 

You can read more ways to save money to trade by downloading my free e-book “27 Ways To Save Money To Trade” by clicking here…

Final Words

These 5 trades, should help you prioritise what it takes to succeed as a trader in 2020 and beyond…

9 Similarities Between Poker Vs Trading

Is trading a form of gambling? With hesitance, I would say yes. However, I would rather call trading a form of strategic gambling as both require elements of risk, reward, strategy and decision making. In the next two weeks or so, I'm planning to publish a new online FREE book called “Poker Vs Trading”. Who knows, by the end of it all you may take up professional poker playing as well as trading… Let’s start with the similarities. SIMILARITY #1: We can choose when to play (Strategy) Traders and poker players don’t play every hand that is dealt to them. With poker, when a hand is dealt, we can choose to either play the hand, based on how strong it is, or we can choose to fold and wait for the next hand... With trading, we wait for a trading setup based on the criteria of our strategy i.e. MATI Trader System. You’ll then have the exact criteria and money management rules to follow in order to take a trade or wait for the next trade. SIMILARITY #2: Amateur poker players and traders tend to go the ‘tilt’ (Emotional roller-coaster) Emotions are a main driver which leads to traders losing their cash in their account or poker players losing their chips very quickly. With poker, you get players who let their emotions take over where they start betting high with an irrational frame of mind. These emotions lead them to losing their chips very quickly. This is when they enter the state of what is called ‘going the tilt’. With trading, amateur traders also tend to act on impulse and play on gut, instinct, fear and greed after they’ve undergone a losing streak or a winning streak. This often leads them to: ·       Taking a series of losses. ·       Losing huge portions of their portfolio. ·       Holding onto losing trades longer than they should. ·       Entering a mindset of revenge trading. SIMILARITY #3: We know when to hold ‘em and when to fold ‘em (Cut losses quick) We have the choice to reduce our losses when it comes to betting a hand or taking a trade. With poker, if the players start upping the stakes and you believe you have a weaker hand in the round, you can choose to ‘fold’ and lose only the cost of playing the ‘ante’. With trading, if you’ve taken a trade and it turns against you, you have a stop loss which will get you out at the amount of money you were willing to risk of your portfolio… SIMILARITY #4: We know the rake (Costs involved) There are always costs associated with each trade we take or each hand we play, which eats into our winnings. With poker, it’s the portion of the pot that is taken by the house i.e. the blinds and the antes. With trading, it’s the fees charged by your broker or market maker, in order to take your trade. These fees can be either the tax, spread and/or the brokerage. SIMILARITY #5: Aggressive trading and betting before the flop (High volatility) There will always be a time of strong market moves and high betting. With poker, you get times where players like to bet aggressively and blindly before the flop is revealed. It’s these times that lead to the amateur poker players losing their chips very quickly. With trading, you get economic data i.e. Non-Farm-Payrolls, black swan events and Interest Rate decisions when big investors and traders like to drive the market up or down before the news even comes out. NOTE: I ignore both forms of hype as it is can lead to a catastrophic situation. SIMILARITY #6: We bet and trade based on the unknown Every bet and trade we take and play is based on incomplete information of the future. With poker, we are dealt hands then bet on decisions based on not knowing what cards our opponents have and/or what is shown on the river. We then have the options to call, bet, raise or fold during the process. With trading, we take trades based on probability predictions without knowing where the price will end up at. This is due to new information which comes into the market including (demand, supply, news, economic indicators, micro and macro aspects). SIMILARITY #7: We lose A LOT! (Losses are inevitable) Taking small losses are part of the game with both poker and trading. With poker, it is important to wait patiently until you have a hand with a high probability of success. Some of the best poker players in the world, fold 90% of the starting hands, they receive. Some professional poker players can go through weeks and months without a win. With trading, we can lose over 40% to 50% of the time. In general, I expect around two losing quarters a year. I know that when there are better market conditions, it will make up for the small losses. SIMILARITY #8: You must learn to earn (Education is vital) You need to understand and gain as much knowledge as you can about poker and trading before you commit any money.     With poker, you need to understand: The rules of the game. The risk per move. The amount of money you should play per hand. Once you know these points, you’ll be able to develop some kind of game plan with each hand you play. With trading, you need to understand: The MARKET (What, why, where are how?)NB* The METHOD (What system to follow before taking a trade). The MONEY (Risk management rules to follow with each trade) The MIND (The frame of mind you must develop to succeed)   SIMILARITY #9: Perseverance is the key ingredient to success You need to take the time and have the determination to become a successful trader and poker player. With poker, you’ll need to keep at it and apply strict money management rules with each hand played. With trading, you’ll need to know your trading personality, know which trading method best works you and understand your risk profile… I’ll leave you with a quote from Vince Lombardi (American football player, coach, and executive): “Practice does not make perfect. Only perfect practice makes perfect” Do you have any similarities between trading and poker? Let me know and I’ll add it to my new book “Trading Vs Poker”, and I’ll send it straight to your email address… You can email me at www.timon@timonandmati.com.