I believe this is one of the best videos from Financial Wisdom. A lot of people have trouble knowing when to sell. (Including myself) I've had many positions go from positive to negative. It seems like a simple thing to do. If you would always sell in the green and abide by your stop, (considering profitability rate and RR ratio of course) you're a profitable trader. But for some reason, it just doesn't happen that way and it's because we don't follow our plan or don't have a plan set BEFORE entering the trade. Trimming the position on the way up helps keep profit and reduce huge losses too. HAVE A PLAN AND STICK TO IT!
You don’t always have to think long term. Investing/Trading is as much a tool for shaping your present financial situation as it is for forming your future one. Do you want to buy a BMW next year? Do you want to go on a cruise? Wouldn’t a vacation that was paid for with dividends feel nice?
If you are investing in the hope of buying a house, you will almost certainly be looking at longer-term instruments. If you are investing to buy a computer in the new year, you may want short-term investments that pay dividends or some high-yield bonds.
The caveat here is that you need to pinpoint your goals first. If you want to go on a vacation in a year, you have to figure out the cost of the vacation and then come up with an investing strategy to meet that goal. If you don’t have a set goal, the money that should be going into that investment will doubtless be used for other purposes that seem more pressing at the time.
The best video I have seen to date. Literally was switching on light bulbs in my head as it played and it has made what I haven't been understanding for 3 years crystal clear...🤩 Thank you Dr Alexander Elder for the amazing analogy of Market Condition... I need to dive into his books asap.
Recently becoming interested in Dr Elders book, find this video (as always previously about other authors) very useful to summarize the findings by this unusual doctor. Appreciate your work, thank you.
Excellent video however the "sell zone" at point B was drawn with the benefit of future price action! Don't we all wish we had future knowledge to make present day decisions 😊
Nice video. The selling point in charts looks little bit like consolidation and forming a second base which could be a continuation of uptrend. So its not easy to differentiate. Thanks
I have seen in an earlier video that you are trading since more than 25 years. My question would be: do you do this as a full time job? Or is just an extra to your everyday job? How much time you spend ok screening weekly? How many positions you take to maximum? Thanks in advance.
Hi - Yes this is my full time endeavour. Perhaps 4 hours on the weekend, it used to be more but the scanner we developed has taken a lot of leg work away. up to 16 positions if the market is trending
Hello, thanks for the great video. I am rather confused though. I have read 'Trading for a living, 'Come into my trading room' and 'The new trading for a living' and my entries are still a mess. He says that if you analyse the weekly chart as the tide, then your daily Force Index gives you the entry signal by dipping below 0. This makes good sense to me. However, in 'The new trading for a living' he also covers his Impulse System, which is what you're not permitted to do system and on its own also makes good sense to me. But when you try and enter a position using Force Index on daily chart, that same day is often not permitted by the Impulse system. Could you please clarify an exact criteria for an entry? Thanks in advance.
In the context of this strategy, is an uptrend defined as the 13 EMA being above the 26 EMA and is a downtrend defined as the 26 being above 13? Thank you in advance. I love the presentation of your educational RU-vid videos.
It's funny how he sais "Price at some point snaps back to the EMA". Of course it does, but it's not because the price 'snaps back', it only is because the EMA catches up. I still get his point though.
This material fosters deep intellectual curiosity. A book I read with related ideas enhanced my thinking. "Mastering Money Mindfulness" by Benjamin Hawk
Great production, Gareth, thanks. I'm almost tempted to go off and write an essay comparing and contrasting Dr Elder with Stan Weinstein (e.g. Force index vs. Mansfield relative strength, etc), although both use very similar principles. Out of curiosity, when Elder refers to 13 & 26 EMAs is he using a daily or weekly chart? (Based on your earlier videos, I'm now weekly charts almost exclusively.)
My p0rtfolio is plummeting significantly, I’ve lost about $320k within a few months and I'm not confident about picking st0cks anymore. Are there really no other options for me to gain from the stock market?
Very true. Despite having no prior investing knowledge, I started investing before the pandemic and pulled in a profit of approximately $950k that same year. In reality, all I was doing was getting professional advice.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success
There are a lot of independent advisors you might look into. But i work with Nicole Desiree Simon , and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
A man opened 2 accounts: 1. One for trading 2. The other one for investing Over a period of time, the trading account became the investing account and the investing account became the trading account... Hit the like button if you got it....
@@FinancialWisdom sir, it's been 2 months now since I started my own journey.. And sad to say, all my positions are RED. 😭😭😭. One of the reason is that, we dont have stop loss application here in the 🇵🇭. I followed all ur advice and strategy. All the missing wer der is the SL. any advice??? Thank u and stay safe.. 😘😘😘
@@samrhaibeth8255 hi Samantha, when you say follow all my advice... do you mean all apart from the stop loss? We need a stop loss in all our stock positions, " cut losses, let winners run"
I liked your previous trading books analysis, but in this video it seems you overpowered your views rather than the Dr elders view, also didn't gave clear view of the topic.
