One of my all-time favorite sayings is "money saved is money earned", and I believe that was a great saying to live by this past year, especially towards the end. Like many of you, I was stopped out of almost all of my trades by the Trade Triangles in early October, avoiding devastating losses and living to fight another day. But then there was the flip side, the urge to jump back into some trades. And I can tell that the urge to jump back in the markets is strong amongst our fellow members.
This is where patience comes into play. As I do every day, I followed my game plan and scanned the market because even in a down market there are trades to be made, but I wasn't finding anything that fit my criteria. It's been frustrating, but then I reminded myself to be patient, the market will come back to me at some point. It just so happened that it didn't in October and then I thought of that saying "money saved is money earned," and I didn't feel so bad. After all, I could have pushed and ended up with significant losses.
I know I'm not alone either, I've been talking to our fellow MarketClub members all month answering questions like, "should I change my plan?", "what are you looking at market wise?", "is it ok to trade new weekly Trade Triangles vs. Monthly ones?", "what do you think is going to happen next." I'll take a crack at answering these questions. Continue reading "Patience Is Critical To Your Success"
As Trader's, we've experienced a lot of uncertainty recently around a pending global trade war. In fact, I have read that economists believe a full-blown trade war could cost the global economy $470 billion. Now that's a significant number, and it certainly could negatively impact your portfolio if you're not careful.
So how do you protect your portfolio and preserve capital?
The answer may have come from your Grandma; it certainly did from mine. She used to say this simple phrase to me on what seemed like a weekly basis, "don't put all of your eggs in one basket!"
Well, it turns out Grandma was right! Grandma knew a great deal about the power of diversification and how it reduces risk in different aspects of your life, and we can relate that directly to trading and investing.
It just doesn’t make sense to trade only one market. There is just too much risk and too little opportunity. A trader needs to stay flexible, and at the same time be diversified. Before we get into the meat and potatoes of market diversification, let's take a look at how the dictionary defines "diversification." Continue reading "One Word Can Protect Against A Trade War"
In today's video, I will be talking about candlestick charts and just how powerful they are when they are used correctly. This form of charting began centuries ago in Japan, where rice merchants used candlestick charts to track the price of rice, a major commodity in that country.
Unlike Western charts, Japanese candlestick charts can have colorful names and modern interpretations can have colorful candlestick bodies to better highlight price movements. The candlesticks are normally made up of a "body" and an upper and lower "shadow" (or "wick").
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Today, I am offering my PDF booklet, "17 Money Making Candlestick Formations You Can Use Today In MarketClub."
If you don't already have a copy of this e-book that shows you all 17 major candlestick formations, give us a call at 1- 800-538-724, extension 106 or 410-867-2100, extension 106. You may also email email@example.com.
Enjoy the video and put the power of candlestick charts to work for you today.
Every success and thanks for watching.