How many ways can you draw a circle? It's probably a strange question to ask, but the reality is, trading is very close to the same discipline. How many ways can you successfully trade? Whether you're drawing a circle or trading, each requires certain elements to complete a perfect circle or a perfect trade.
I wanted to share with you 5 key elements that you must be using if you are going to trade successfully or invest in the markets. I like to call them the building blocks that must be in place to grow your fortune.
Each of the 5 elements are short and to the point and contain nuggets of knowledge that are essential for your success in the markets.
Rule #1: Attitude
Attitude is so important in your approach to investing and trading.
Rule #2: Game Plan
Trading without a game plan is like crossing the ocean without a compass, you are going to get lost and run into a lot of problems without a game plan.
Rule #3: Trend
I'm sure you have heard the expression, "the trend is your friend." Well, truer words were never spoken in trading. This article will show you how to quickly determine the trend in any market.
Rule #4: Diversification
One of the easiest ways to reduce your risk in any market is to diversify your holdings. As they say, "do not put all your eggs in one basket." This article on diversification, you will earn which markets you should be looking at and why non-correlating markets are so important to have in your portfolio.
Rule #5: Money Management
Perhaps some of the most-asked questions we get from members are about the use of stops and money management. This is a crucial cornerstone to your success as money management plays just as much an important role as picking out the right stock or market to trade.
The #1 Key To Trading Success
There is an old adage in trading that goes like this, "once you find the key to the market they change the locks." The 1 key to success that can never be changed is discipline. Unless you're disciplined in your own trading approach, you are going to find it very difficult to find true and lasting success in the markets.
I will leave you with one of my favorite quotes is from Henry Wadsworth Longfellow:
"A single conversation across the table with a wise man is better than ten years mere study of books."
Every success with MarketClub,