The "no high five" rule is so key. In the past when I experienced a euphoric "I've got the trading game sussed" moment the market quickly and and often brutally reminded me I have more to learn
I really like Simon's suggestion to think of yourself as a risk manager - makes sense to me. His approach sounds very time efficient, that appeal too. Great interview, thank you!
superb statement faced it many times" as a trader its your job to stop a small loss to a big loss" if you can perfect the art of not loosing money . wow what a statement
I just wanted to say that I truly appreciate you, your the reason why I started my youtube channel in the first place. Thanks to you I now teach people about financial literacy and how to invest their money. Thanks once again, and I hope you could inspire more people just like myself to build a youtube channel. 😊
What makes candle sticks stop where they stop before reversing in the market because when I'm look at a chart they seem to just stop and reverse very randomly no matter wether its bull or bearish that in itself can be confusing as to when to enter and more importantly set a stop loss in my opinion
The market moves from a random distribution of millions of orders. Focus on really understanding “edge” and not strategies. Any strategy can be traded profitably, so don’t waste your time on trying to find the best one. Edge is something that comes and goes, and your ability to find edge is going to be the biggest way to turn your trading around. If you take the greatest trader ever vs a new trader and put them both in a market that’s not moving they both won’t make money. But if you put them both in a market that’s moving, they both have a great chance at making money. The only deference between good traders and bad is the ability to find what’s moving aka edge. Good traders have developed a method to find edge consistently. Instead of taking many bad trades. But don’t get me misunderstood just because you have edge doesn’t mean you will make money on every trade, edge is based on a series of trades over time.
The market is unpredictable and you can never really know in which direction it will go, technical analysis can give you a slight edge at to what is the overall trend and what is the mood right now. At all times you have a 50/50 chance to either win or lose. All you can do is manage your risk and have a clear plan as to how to grow your capital. Each time you enter the market without mitigating your risk you will surely lose.
This helps a lot. Simon talks about possible 5% monthly ROI. I wonder how many trades he does per month and how many of trades end positive? 40%? I need a number cause I work on variance stimulation module
