It’s been a crazy few weeks here in Rio De Janeiro. Many of you have emailed me as to why I have been missing in action and it is because I have been enjoying the beautiful the country that is Brazil. If you’re interested in getting updates about my ramblings in Brazil, check out my Brazil travel blog at WanderingTrader.com.
In the last few weeks I have visited remote fishing villages, hiked over mountains to see secluded beaches, started a new blitz for the training program (details coming soon), and secured a gorgeous new loft here in Rio de Janeiro. Many of you asked me how I balance life as a full time traveler, day trader, and coach.
I always reply how simple it is, I don’t sleep.
No seriously, I really don’t sleep. Many times I answer e-mails that I get from students at two and three in the morning. I always tell everyone that it’s about the lifestyle and I do many things very differently than most day trading companies; I don’t have live trading classes every day because they aren’t as effective as most people think and I don’t have people that have never day trade in their lives run any classrooms.
I want to do a post today because of the difficult nature of today’s market activity. The market was channeling within a 5 to 6 point range and by applying proper market principles and identifying went to take a trade, when not to take a trade and knowing when to be aggressive, we could have all done very well.
One of the things that I do with the personalize training regimen is have students send me their charts for critiques and I happened to include two charts to show you the difference between someone that is still in the beginning phase of the learning process in comparison to someone that is already picked out a lot of the concept that I teach.
I had an incredible lesson as part of the blitz last week and I’m really proud to see that these traitors are already applying those concepts in this kind of market. The idea here is to show you the different from beginners results and a more advanced traders results. I didn’t have for their permission to post the charts publicly on the site so we will call them Bobby and Billy accordingly.
Chart 1 (Beg Trader)
Chart 2 (Advanced Trader)
I won’t go into what was done correctly and incorrectly by each but I wanted you to be able to compare what they are doing and see the similarities of how I did today. Many times when we have this kind of market traders become risk averse and don’t trade aggressively because the market isn’t “trending”.
In reality, as long as the market is moving well we should still be able to make money in this kind of market. Making 8.5 points or 1 point isn’t wants important, its about making money today and being aggressive and knowing when to take profit.
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