Showing posts with label how to trade better. Show all posts

Sunday, 30 October 2022

Why didn’t you take the trade?

It lined up perfectly.

The opportunity was there.

And yet you didn’t take the trade?

You know we only have one job as a trader…

To take the trade. Then take the next one when it comes our way. Then we repeat the process forever.

So, I’m going to now guess why you didn’t take the trade and let’s see if I’m right…

Ok?

10 Probable reasons why you didn’t take the trade

1. You didn’t feel like it

2. You saw some external indicator or news event that stopped you from taking it

3. You looked at the overall market environment and it just didn’t feel right

4. It lined up but it just did not look perfect

5. The market has moved too much in one way or the other that you don’t want to take a chance

6. You’re scared to lose any more money

7. You don’t want to spend any more money on a trade

8. You don’t fully trust your system yet

9. It’s your birthday or some day of the year where you refuse to take a trade with the risk of losing money

10. You believe you know better this time than what your system is saying

Now let me save you some time and tell you something.

These are NOT reasons to not take a trade.

These are excuses that are completely unnecessary.

If you have a proven system like the MATI Trader System and it lines up – You just take the trade.

If you have the rules for when to take a trade and the rules come into fruition – You just take the trade.

Next time when one of those silly excuses line up and you just can’t put your finger on the button I want you to say one thing…

JUST TAKE THE TRADE.

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You Have Choices Every Day

From the second you turn on your computer, to the time you press buttons commit your funds into your trades and close your computer.

You are making your own choices.

Do you choose this?
Do you follow that?
Do you go against this?
Do you type that?

So technically, your financial future success lies all in your fingers.

In this article, you need to ask and answer what choices are you prepared to make – to turn your life around as a trader.

CHOICE #1:

Sleep until noon – Wake up early

If you’re a position trader (trade once per week or so) like me, then you’ll know profitable opportunities knock VERY slowly.
You can wake up late, open your trading platform and see a missed trading opportunity just like that.
Or you can set your alarm, wake up to check the markets to confirm if there is a trade lined up or not.
DON’T MISS YOUR TRADING OPPORTUNITIES!

CHOICE #2:

Only trade your starting portfolio size – Deposit money each month

Let me be frank.
R5,000 isn’t going to turn you into a millionaire.
R20,000 isn’t going to turn you into a millionaire.
I’m sorry but it has to be said.
You need to find a way to keep depositing a bit of money into your trading account each month.
Whether it’s 5% or 10% of savings, the more you deposit each month – the faster your portfolio will grow as you have more to make money from money.

CHOICE #3:
Go against your strategy – Follow your strategy

I know it’s tempting to want to go against your strategy.
You want to move your take profit, stop loss, you want to buy more. You want to take some money off the table.
The problem is – make this choice and you’ll set a dangerous precedent.
It will be the start of going against your strategy the next time and eventually, you’ll only be trading with discretionary (self) which I need to remind you is…
A COMPLETE LOSING STRATEGY!
The stock market doesn’t work on emotions. It doesn’t think and it doesn’t feel. So why should you?
Keep to your proven and profitable trading strategy, and the profits will yield as your system has shown you time and time again.

CHOICE #4:
Learn and then drop the E – Try to earn and drop the $

Trading is a forever learning business.
You need to learn how the markets work. You need to learn how the trading environments operate and when they are favourable or unfavourable to your strategy.
You need to learn WHICH are the best instruments to trade.
Which are the most reliable and secured brokers.
Which trading platforms are up to date with technology.
What NEW markets there are to utilise and profit from.
The list continues.
Please follow your own learning time line as a trader and then you’ll find it will all be worth it.

CHOICE #5:
LATER – NOW!

I still get customers saying to me…
“Timon I’ve been following you for 10 years and haven’t started trading yet, what do you suggest?”
Simple! Get out of your comfort zone, stop being lazy and take the necessary steps to start your trading journey. Why do you think I have a website with the exact steps you need www.timonandmati.com
10 years!
You could have been a millionaire by now according to my 10 year trading journey. You could have had all the experience you needed to not even have the need to read my emails anymore.
It’s all on you.
The best time to start is NOW!
There is no past (as it already happened).
There is no present (as it automatically becomes the past).
There is no future (as it’s still to come).
So all you have is an infinitesimal photo shot of time called NOW!
Got it?
Make your choices and materialize your trading into the reality you’ve desired.
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TRADING – Is it for you?

I got to say it now…
Trading is NOT for everyone.
Not because they can’t do it, or because it’s hard – but rather…
Trading is something that only a few will feel passionate to do for the rest of their lives…
I say this because there are many things that I could do well in, make a huge income from, but I unfortunately don’t enjoy.
For example, Poker, horse-racing and sports bets, real-estate, portfolio manager, business consultant…
Don’t feel ashamed nor feel something is wrong with you.
Instead, embrace your personality and work towards what is your OWN calling and passion.
In this article, well find out if trading is for you…
Out of 15 things I’ll mention today, write down YES or NO for each one…
Let’s go…

YES or NO?

Are you a good decision maker?
Are you proud to be called a financial trader?
Do you enjoy looking at charts and indicators?
Can you handle a bunch of losing trades in a row?
Do you have the will-power to trade every week?
Do you enjoy reading fundamentals with markets?
Can you handle losses on a weekly / monthly basis?
Do you enjoy learning more about local and global markets?
Is it in your personality to deal with short term market moves?
Do you have the ability to NOT listen to other people and the news?
Do you have the patience to wait for the market to hit your trading levels?
Can you follow strict criteria without steering away from your proven strategy?
Do you enjoy looking up statistics and probabilities with portfolio management?
Are you able to deposit a portion of your savings into your portfolio each month?
Do you have the discipline to follow and improve one trading strategy in your life?

If you counted less than 10, the big question is…

Do you think you can train and educate yourself to fix those items and turn them into yes’s?
It’s a short but powerful article, and now you need to do your part.
Count the number of YES’s and send me an email to info@timonandmati.com so we can accelerate your trading performance.
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BEFORE and AFTER Each Trading Day

A game-plan is a must, to see a potential goal, dream or vision.
Not “The Secret” BS where you have to envision it, and it will come true doing squat.
No, you got to have a proper POA (Plan Of Action) and execute.
Whether it’s selling property, building a business, playing a sport or growing your wealth.
You need a BEFORE plan and AFTER plan.
Same with trading. You need to have a trading plan BEFORE and AFTER each trading day.

BEFORE Each Trading Day:

1. Know the main market’s trend direction

The first thing I want to know is, what the main market’s trend direction is.

Plot the resistance (ceiling) and support (floor) levels, so you know whether they are in an up, down or sideways trend.

If up – look for longs (buys)
If down – look for shorts (sells)
If sideways – look for potential breakout levels.

2. Scan through your watchlist

Once you know the main market’s trend direction, have a quick scan through your watch list (markets you trade).

Orientate yourself with where the markets are heading and whether trades are lining up.

This way, you won’t go into the trading day blindly.

3. Write down high probability trade setups

You know the main market’s trend direction, and have an idea of where the markets are heading – now you can plot your trade ideas.

Go through the watch list again, and write down any potential trade setups (with your written entry, stop loss, take profit and reasons for entering the trade).

4. Choose your TRADES for the day

Just because you have written down trade setups, doesn’t mean you need to take every one of them.

Instead, look at which ones which will yield a better probability at working out and has a better chance at winning.

All done before the trading day has even begun…

AFTER Each Trading Day

1. Journal every trade

When the markets’ have closed, and you have time to breathe, go to your trading journal and jot down the trade/s you took for the day.

Each entry should have the (Market name, date, type, margin, entry, stop loss, take profit and reason for entry).

2. Outline lessons of the day

If you’re just starting out or you’ve been in the markets for less than five years, I suggest this extremely useful step.

Write down any market lessons you learn for the day.

Here are some lessons you can write down:

How the market reacted to a news event
How you felt taking a trade or holding onto current trades
Mistakes of the day you learnt or made
Trading lessons that you want to incorporate into your trading…

Write these lessons down, as they will forever be part of your experiences to become a successful trader.

3. Re-check & confirm your open trades

This is extremely NB*.

Make sure your entry, stop loss and take profit levels are still in the trading platform with all open trades, at the end of the day…

Sometimes, brokers have certain glitches in their systems, that can remove your trading levels (automatically).

It happens on a continuous basis and it’s our job, to make sure everything is running smoothly and our levels are still in place.

4. Quick scan your watch list & look for potential trades for tomorrow

Last action you can take for the day, is preparing for tomorrow.

Go through your watch list, look for the next batch of trade setups and write them down. This is so you know what to do for the next day…

Want to skip the steep learning curve and own my 20 years’ life’s work trading strategy starting today? Click here for the complete strategy…

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