You don’t need to have 12 systems going on. If you got ONE or maybe TWO right, firm, down to Earth, straight to the point, and they are consistently making money, maybe not HUGE amounts of it, but nonetheless cash flowing, growing your account little by little, mitigating risks, managing losses like a PRO with your head (not with your liver), trading not praying, well, you better STAY with these one or two systems for a very long time.
If you start building a system for every pattern, strategy or opportunity out there under the sun, you will profit from none. Too many strategies, too many concepts, too many market postures, too many rules to follow, too many trades going on and too many losing positions.
You will burn.
Keep it simple and aim for efficiency. You are not a machine.
Chart of the Day
Normal vs. Paranormal distribution
Trading is filled with uncertainties. You’ll never gonna know whether your positions are going to make money or not. So, working with probabilities is much better than predicting the future. This is where a normal distribution graph will help you. But not if you have 12 systems running at the same time, in which case your distribution graph will look pretty much like the second one.
Video of the day
TJ Market Skyline
This popular segment can be the most valuable minutes you invest in yourself each week. Don’t miss the coaches input on the market and events impacting your portfolio.
Trading Justice Podcast
Trading Justice Episode 277 – Enhancing System with Dividends
Episode 277 of the Trading Justice podcast features system design. Host Matt and Tim justice invite system designer Greg Holmes to talk about the how to enhance your systems with dividends
Coaches Lounge 11am EST
Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.
PRO The Coaches Show – Replay
If you missed last night’s episode where Coach Gino & Coach Noah talked about Earnings Season, or would like to watch it again, check it out here.
PRO Tackle 25 Master Mind Group – 8:30pm EST
Join Coach Matt, the creator of the Tackle 25 tonight and learn how to better use the Covered Call System with the Tackle 25.