Home Trading Strategies How I Would Start Trading All Over Again From Scratch (In 2020)

How I Would Start Trading All Over Again From Scratch (In 2020)

How I Would Start Trading All Over Again From Scratch (In 2020)

hey hey what’s up my friend so in today’s episode I wanted to talk about you know given what I know today right how would I start my trading all over again so let’s say you know I’m someone new to trading how would I approach trading given what I had been through over the years first thing first right I would ask myself what is the goal of trading right most people would say oh the goal Rainer is to make money girl Kingdom money in the moolah but here’s the thing right making money it’s not wrong but it’s fake what type of money are you looking to me are you looking to make like you know 10% a year or is it more like you know making a consistent income from trading every month so that’s a different difference in that right yes we’re all looking to make money but what type of returns are you looking for something that is more wealth building in nature making know ten fifteen twenty percent and you’re all looking for something more consistent two three percent of money so once you’ve defined your goal then you can find the right methodology to meet your goals in that’s number two right defining your methodology so let’s say for example you have a full-time job right Freddie it’s not something that you want to do full-time and you want something that is relatively have little subjectivity something that is rule-based something that could make you know maybe ten fifteen percent a year then clearly you’re a systematic trading is something that you want to consider because it’s rule base doesn’t take up too much time once you’ve done the initial liquid and it’s all about the execution so can you see how the methodology fits your goal or on the other hand let’s say you want to generate a consistent income from trading maybe you’re looking for a way to make two three percent on most months then clearly you cannot be trading off the daily or weekly timeframe you’ve got to be trading off the lower timeframes you know day trading or scalping the markets or whatsoever so clearly right given the goal that you have which is to generate a consistent income from the markets you’ve gotta be trading off the lower timeframe so again right do you find you’re go first then you can find the right methodology to meet your goals the third thing is this right so once you know the trading methodology that you want to learn right how should you learning there’s a lot of resources out there and my suggestion is zero don’t sign up for courses yet right in-state devil in the free stuff like you know books write it I mean it’s not free books it’s not free but it’s real cheap blocks and what i was a twitter followed two people on twitter study the youtube training videos this all free or relatively cheap materials for you to get started and to dive deeper into the methodology that you want to learn about maybe you I realized oh man this is not for me right in here you can find other methodologies that me do go so one thing to look for is that you know what are the things to look for when you are reading books when you’re following traders on social media whatsoever so the key thing to look for is a I will focus on number one right the thought process right whatever stuff then they share I what does what’s the top process behind it is it something that resonate with you if it resonates and it has you know logic to it right then clearly this person knows what is what he’s talking about also right I also like to follow people right there can provide data to back up your findings this could be you know back testing data this could be their trading journal results and stuff like that data to pick up their findings these are the type of people that I would also want to follow the type of people that I would stay away from are those who usually don’t post the PNL right oh look how much money I mean right five thousand dollars today just by clicking you know the mouse 5kp caching I mean when you see such suppose it’s a waste of time right just to stay away from such people and such so called influences you wouldn’t get any value out of it okay so so that’s the third thing that I’ll do right study books blogs follow people on social media and try to get more insights into the trading metal methodology and the fourth thing I would do is that once I am pretty certain that I want to walk down this path let’s say systems treaty I wouldn’t invest in courses right about systems trading maybe I’ll invest of course on how to develop trading systems or maybe if I want to learn how to be a price action trader or investing courses that shows me right the right way to approach price action trading right again right that would be something that you would have to think for yourself right whether this is a course right that you really want to dive deep into okay and finally the last thing that I would do is I would develop a trading strategy or a trading system around the trading methodology that won’t do it for example let’s say price action trading I’ll develop a trading strategy around it right you know what are the market conditions that I would trade what is my entry trigger where do I set my stop-loss my trade management my targets what markets I would trade and stuff like so once debt is nil down right I would then you know take this strategy and trade it in the live markets right since bet testing for price action trading it can be bad but is not too accurate because of certain biases that we have as human so I’ll take this and forward trick in the live market for a really small account and see how the results fail right from the results I can any don’t make adjustment make tweaks try to improvise on the trading strategy on your end let’s see I went down with your systems trading group now what I’ll do is that I will develop a trading systems with a clearly defined rules on how I will trade similar to the price action one just that the rules are now more objective there’s no and discretion then since I can trader I don’t think that rules and pass it on to a programmer to help me program or code it up right and see how the rules fair doing the back test results if it’s good right or if it’s something that I can live with within my expectations now trading on a small lifer come if the results are still you know similar to what the back test results show that I look slowly look we don’t scale up that system right or you know adopt different trading systems to trick together over time alright so hopefully this you know cuz it’s kind of give you the big picture view to how I would start trading all over again right if you know I have to start from scratch alright so with that said I wish you good luck and good trading and I will talk to you soon you


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