I have three sons who grew up in a unique era. Little league and soccer were their first social gatherings. Around that time electronic games were just taking hold. Baseball, football, soccer, hockey, water polo, lacrosse, boy scouts and music were options for youngsters, and my kids tried them all.
They embraced competition and accepted technology as another sport or contest. They are still infatuated with technological challenges today. They all chose different paths, yet their endeavors in competition carved a path to their passions today.
My point is to be a great trader you must immerse yourself in a competitive environment. Have a plan of attack and take no prisoners. Sounds harsh and it is. Professional athletes are fierce. If you want to compete against the pro traders, you must think like one.
There are plenty of tools geared to guide traders and way too many so-called experts. The truth is you must create your own methodology to fit your personality and risk parameters. In other words, what sport or discipline fits your style and gives you confidence?
Want to play with the pros? Think and train like them.
- To play in the big game, determine if bulls or bears control near-term momentum; learn to favor a direction.
- Pinpoint entry levels (support / resistance).
- Define risk (you can join the MTM Daily Edge sessions to hone these skills).
- Project profit potential and protect profit while the market moves in your favor.
Markets are unpredictable, so at MTM we use logic and probabilities to gain that edge.
Senior Technical Analyst
Market Taker Mentoring, Inc.