Tackle Today: The Myth of Being a Trader đ
May 4, 2019
â You must be so lucky! â
When I first started learning how to trade the financial markets, I traded at a loss for 1.5 years before I ever saw consistent profit. This is AFTER one year of education, hundreds of paper money trades plus two private 1on1 mentorship sessions. Clearly, I had no beginners luck! At one point, even one of my mentors had to comfort me on not to give up seeing how dismal my results were.
To add further insults to my unlucky start, people who I used to call friends ridiculed me. One of them said, âI was paying tuition to lose more money, what kind of business model is that?â Some of my family members questioned me what I was doing and suggested that I might be getting myself into a scam, etc.
Three years later, none of them think I am a joke anymore. They know I worked for what I want to change my luck.
Is it Luck or Probability?
Read the full story
“The Myth of Being a Trader (Part 3): You must be so lucky!”
Chart of the Day
Is it Luck or Probability?
“When you play to succeed as a trader, you donât play to get lucky, you play to define the probability of luck like you are a game maker.“
Read the full story HERE.
Video of the Day
How to use a probability cone
In this video, coach Noah Davidson teaches how to use the probability cone, an indicator that helps to project out the implications of volatility into the future.
Today’s line up
Options Theory
Volume is the Punctuation
Today weâre taking a break from option theory and diving headlong into technical analysis. Iâm going to share with you how I think about the volume indicator. Itâs super popular. After price (reading candlesticks, essentially), volume is the most commonly viewed metric. All charts display it by default. How many other indicators can say that?
Traders Lounge 11PM EST
Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.
Cashflow Club Replay
If you missed last nightâs episode where Coach Tyler Craig talked about delta targeting or would like to watch it again, check it out here.
Halftime Report 12:30PM 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.
Market Recap
The Market Recap is designed to give you a quick overview of the day that was. While brief, this report is designed to cover all of the major events that drove the markets that day and help you plan for the trading day ahead.
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