Tackle Today: True learning requires application, not just study
June 30, 2020
≈ Are you building trades regularly? ≈
This week at Tackle Trading we are going to focus on 3 specific areas you need to build a plan of action for.
- Education
- Application
- Community
Today’s topic is application. Once you learn how to execute a trading strategy, you need to apply that education in your trading account to truly absorb the content and make sure you know what you are doing. If you have taken the STEP System course, for example, you have learned how to build your rules to place Stop Losses, Targets, Entry Triggers and Position Sizing. Once you have your rules, you can then use trading candidates to build trading plans and execute those trades with.
A great resource to find trading candidates are the weekend scouting reports. Within the Stock Report and Options Report are a list of qualified candidates to build trades on if the price action confirms and your entry point confirms. If you are a new trader, in paper trading, you can use these lists to build your trades with. If you are a veteran, and trading live, you can do the same thing. Are you taking the watch lists and using them each week?
Access this weeks reports here: https://tackletrading.com/category/scouting-report/
You must apply what you are learning. Practicing is critical for your growth. You cannot simply take a course; you must use the information to truly build the skills you need. No matter whether you are live trading, paper trading, backtesting or all the above, you should be entering trades regularly to keep your skills sharp and continue to run your daily routine.
Challenge of the day: Enter one new paper trade within your rules each day.
If you have already built your rules, fantastic! If you still need to develop them, you should start or review the STEP System course immediately. If you do not have access yet, it is being offered at a 50% discount until July 8th as a part of our Independence Day Sale.
To gain true Freedom in your trading, you need to build your skills. Make sure you are applying what you learn on a day to day basis, it is a vital part of the process.
#TeamTackle
Programming note, we will be holding a special webinar this Wednesday night on our YouTube channel where Coach Matt Justice will be teaching. He is the architect of the STEP System course, the CEO of Tackle Trading, and you will not want to miss this one.
Chart of the Day
VIPS Bullish Retracement
Vipshop Holdings (VIPS) was on this past weekends Stock Report. This pattern is a bullish retracement. How and where would you enter your Stop Loss, Target, Entry and Position Size for a stock trade like this? Each trade should be planned out to the detail and done so within your rules.
Video of the Day
Practical application of your trading system
Listen in as Coach Noah explains the importance of applying what you’re learning by using the Scouting Reports each week.
Today’s line up
Traders Lounge 11 AM EST
Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.
The Coaches Show 8:30 PM EST
This is our weekly MasterMind group. Join the coaches tonight, 8:30pm EST to discuss the markets and help you prepare for the week.
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.
Financial freedom is a journey
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