Keys To Top Trading Profits - The Ultimate Swing Trading Guide
The Ultimate Guide to Create Your own Trading System Part 1!
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Transcript of The Ultimate Guide to Create Your own Trading System Part 1!
www.tradergrowth.com
The Ultimate Guide
to Creating Your
Own Trading
System – Part 1
Picking the bits that
you find dandy
You’ve been trading for a little while now but consistent profits have been
unachievable. None of the systems you’ve been trying seem to work for long, if at
all. Frustrated, confused and lost, you’re not sure what to do next. Do you keep
searching for a system that works? Do you give up and accept defeat?
You do neither. You create your own goddamn trading system that is
awesome.
How many pro traders do you think trade someone else’s system to a tee? I’ll tell
you how many.
None.
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Sure, they may have some similarities here and there but the ultimate fact is this:
You cannot successfully trade someone else’s system the same way that the creator
does. To do so would mean that you share exactly the same beliefs, expectations
and market history of the system creator. It’s not going to happen.
Let’s say I’ve been trading for a year, focussing on “price action” techniques and
“naked” charts and I stumble across a supposedly profitable trading system that
makes trades based on crossing moving averages and stretched oscillators. How
well do you think I’d trade within that framework based on my history and therefore
my beliefs about the market?
Poorly.
“What is the alternative? “ I hear you cry, “I’m not smart enough to make my own
trading system from scratch!” Well, I beg to differ. I guarantee you have the
knowledge that you need to create your own system if you’ve been trading for a few
months and understand the basics (email subscribers should read my free e-book to
see what I define as “the basics”).
What you’ll need to create your own trading system:
1. You need to know the basics. I’m talking about buying / selling, lot sizes,
order types, trends and all these simple things. Without a thorough
understanding of these concepts, you’re really not ready to move forward.
2. You need to have been exposed to a number of market concepts or methods
that make suggestions for interacting with the market. Followed a few
systems over your 12 months trading? Great, you’ve got a starting point.
3. Be willing to stick with a potentially poor system on a demo account to work
out the kinks. You’ve got to start somewhere and that somewhere might
not be great. If you create a profitable system right off the bat, I’ll eat my hat,
you sly cat (oh god I’m so sorry) but it’s more likely you’ll created a system
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that will have you going “meh” on the daily and that’s perfectly ok. I’ll explain
why below.
4. Enjoy the process of getting better every day. Think like an athlete for the
sake of this exercise. Your daily trading activity is just training, as is your
journaling and reviewing. Training that has the potential to make you very
wealthy. Don’t forget that bit and it’ll seem more fun.
Now, all the above requires an itsy bit of discipline, something that most human
beings that decide to trade don’t have a lot of. Think of it this way, you want to
create a lasting system that you trust, know and have made yourself. Nothing you’ve
done up until this point has created consistency so why not put in the work for a little
while and see what happens?
I can guarantee it’ll be more productive than looking for another cookie cutter
system on a trading forum.
Alright, so enough about the requirements, let’s get into the fun bit. CREATION!
You’re a human being (I suspect) and you’ve had many interactions with the markets
since you’ve begun. That creates beliefs. Beliefs create expectations and lead to
actions. We need to work with your specific beliefs to create something sustainable
and something that you’ll enjoy trading.
We’re going to create a trading system that is inherently yours. Fuck yeah.
Exercise 1
Read the rest at www.tradergrowth.com!