9 Minute Read

Tackle Today: 4 Tips for 2020

December 24, 2019

By | 2 Comments

4 Tips for 2020 - Photo by Lauren Sauder on Unsplash

« Become a better trader. »

Isn’t it true that some of us simply can’t avoid making predictions and resolutions for the next year while also look back at the year that is now vanishing and think about successes and failures?

Inevitable, I guess.

Let me list below 4 things that are, in my estimation, pretty useful for your next year. If this list will make you stop to think about your future as a trader and the mistakes you made in the past, goal achieved.

1. The ego is the enemy

It’s impossible to not start with the mindset. Your ego is your worst enemy. Do not try to impose your convictions, opinions, and perfectionism at any cost. Let the data, the method, the trading structure guide you in this business, not the other way around.

2. Learn to err

Learn how to err simply because you are going to anyways. Just make sure to incur in the type 2 error that is to accept a false null hypothesis. The Type 1 error can lead you to ruin while Type 2 will only make you lose an opportunity in the market. Learn how to deal with the FOMO.

3. Expose yourself to the markets

If you don’t trade, you won’t make money. Sounds logical but most new traders are so afraid of making mistakes that they will never graduate from the paper account. Expose yourself to the markets with structure and method. Learn how to lose money, keep your zen and stay in the game.

4. Learn how to use leverage

“When you combine ignorance and leverage, you get some pretty interesting results.”

Warren Buffet —

Warren Buffet is right. Get a $5,000 account to manage some $100,000 and you will be cooking with gas right away. The problem is that you can get burned and blow your account before you notice. Have strict rules and do not use the “milk money” but “Caipirinha money” (shout out to Coach Slawek).

Speaking of Caipirinha, let me get back to the festivities.

Happy Christmas to #TeamTackle!


Chart of the Day

Yesterday

(Source: The Beatles)

How much The Beatles can teach you about life?


Today’s line up

Traders Lounge 11 PM EST

Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.

Halftime Report 12:30 PM EST

The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day and fun in a way that only Matt and Tim can deliver.


Tackle Trading: Financial Freedom is a Journey. Sign up now for a 15-day free trial.

Financial freedom is a journey

The Tackle Today series is brought to you by Tackle Trading.

Sign up now and gain unfettered access to all of the quality content and powerful Scouting Reports that our Pro Members enjoy for 15-days absolutely free with no strings attached and let us show you what your trading has been missing.

Sign up now for a 15-DAY FREE TRIAL #


Legal Disclaimer

Tackle Trading LLC (“Tackle Trading”) is providing this website and any related materials, including newsletters, blog posts, videos, social media postings and any other communications (collectively, the “Materials”) on an “as-is” basis. This means that although Tackle Trading strives to make the information accurate, thorough and current, neither Tackle Trading nor the author(s) of the Materials or the moderators guarantee or warrant the Materials or accept liability for any damage, loss or expense arising from the use of the Materials, whether based in tort, contract, or otherwise. Tackle Trading is providing the Materials for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and are not intended to represent specific trades or transactions that we have conducted. In fact, for the purpose of illustration, we may use examples that are different from or contrary to transactions we have conducted or positions we hold. Furthermore, this website and any information or training herein are not intended as a solicitation for any future relationship, business or otherwise, between the users and the moderators. No express or implied warranties are being made with respect to these services and products. By using the Materials, each user agrees to indemnify and hold Tackle Trading harmless from all losses, expenses and costs, including reasonable attorneys’ fees, arising out of or resulting from user’s use of the Materials. In no event shall Tackle Trading or the author(s) or moderators be liable for any direct, special, consequential or incidental damages arising out of or related to the Materials. If this limitation on damages is not enforceable in some states, the total amount of Tackle Trading’s liability to the user or others shall not exceed the amount paid by the user for such Materials.

All investing and trading in the securities market involves a high degree of risk. Any decisions to place trades in the financial markets, including trading in stocks, options or other financial instruments, is a personal decision that should only be made after conducting thorough independent research, including a personal risk and financial assessment, and prior consultation with the user’s investment, legal, tax and accounting advisers, to determine whether such trading or investment is appropriate for that user.

2 Replies to “Tackle Today: 4 Tips for 2020”

  1. JimGuanzon JimGuanzon says:

    Great Rules for 2020! Simple but lots to think about for 2020.

Leave a Reply

Chart Modal

Tackle Trading