It all started on Twitter, back in 2009 I used to post some of my trades and one of the traders that followed me asked me how I did to be right on my calls so consistently and I jokingly said: - "Send US$ 1,000 to my PayPal account and I'll teach you how I do". And to my surprise on the following day he sent that money to my account and I had no other thing to do but to start teaching him how I did through chat on Skype, every time I spotted a new trade I told him whether to go long or short and showed on the charts why I was taking that trade...
At the same time that I was teaching him I was writing all the documentation on each of the setups I used then which later on was all published on my website for all the new members that came after that first one.
Today, after having taught my trading system to over 600 traders since 2010, I learned that most who signed up were looking for "a get rich quick scheme", but unfortunately that does not exist in trading, anyone looking to be successful in this business will have to put in the long hours of dedication and hard work required until they can become successful and able to live off of it, those who don't give up and have the discipline to follow the rules that are taught will be rewarded if they're patient enough to go through all ups and downs of a trading career, as it is the case in any other profession.
Markets change their behavior completely now and then, making totally different cycles along a trading year, we might have something from 3 to 5 different phases that we need to adapt our trading system or die, our job is to spot those changes and tweak the system here and there, it is dynamic, there is no comfort zone where we can sit and stay indefinitely, change is the normal core of our business.
Of course experience does help a lot spotting those changes in a timely manner, that is of fundamental importance if we want to survive and make money consistently.
Our over 20,000 hours of screen time does help showing our members the changes of mood in the markets, all we know is that patterns repeat themselves over and over again, our job is to find those patterns in play and take action by pulling the trigger and managing our risk on each trade.
If you want to be consistently profitable in this game, the only way is to have clear rules and follow them with discipline and patience, to name a few of those rules I'd stand out:
- having the patience to wait until the market shows a pattern that meets a certain criteria and when they do, not to hesitate pulling the trigger
- taking profits at the predefined targets only
- having a strategy to scale out of a trade or go full size and stick to it
- never, ever taking a big loss
- respecting STOPs and so on...
Patience and discipline are key to success.
It's relatively easy to learn a trading methodology, where to buy/short and why, it will take you 1 or 2, maybe 3 weeks, the difficult part is to have the right mindset to follow the rules.
Our Challenge #9 is coming to an end, we must meet the final target either this week or the next one, we should be able to meet our target once again from SU$ 10,000 to US$ 20,000 in a little more than 3 months this time, so next challenge will begin by the end of this month: Challenge #10.
Join us by clicking here: Diamond Setups
If you want to send me email: renatrader@diamondsetups.com
"We all have dreams. But in order to make dreams come into reality, it takes an awful lot of determination, dedication, self-discipline and effort." - Jesse Owens
Best of luck!
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