GMail To Technical Trader
On the 13th of July 2020, I received a Gmail from a TSTW SYS 008 technical trader. Β I read it and took some time to digest it. Β On the 17th of July 2020, I replied to that Gmail. Β I will not mention the name of the technical trader, but all I would sayΒ is that I like very much his attitude or approach to technical trading. Β
Of course, there are other TSTW technical traders who make me proud, and give me the encouragement to continue to assist traders that want to trade like a pro.
Β Β For the first time I am sharing a private email in a public place because I believe, it will help other technical traders to flow with the financial markets. Β Here it is.
Thank you for your email. Β I have taken some time to digest your email. I understand what you are trying to do. Β It is normal because that is how a trader often adjusts on the level five of the ladder of trading.
I have used a trading software called Decision Bar ( https://www.decisionbar.com/ ) and another one for Forex but I forgot its name. Β That was years ago. Β I used them for three months or so then I abandoned them altogether because they have not made me a better trader. Β My goal was to learn to trade like a pro. Β Personally, I do not recommend trading software because I do not use them. Β I am not saying that they do not have their place. Β Usually, trading firms or investment banks use them. Β They may be suitable to some traders. Β
However, they will only make money for traders who know how to trade or invest. Β It is strange but I have discovered that the financial markets only reward those that understand them. Β
I think etoro and other brokers now offer their clients the chance to watch other traders and copy their trades. Β The fact is that everyone will have some bad trading weeks. Β For that, I say to traders, trade less from the 1st to 8 and 15 to 17 each month because those are challenging times in the markets.
I think that would help you a lot because one does not want to challenge the markets those days. Β Traders also lose a lot in the months of July, October, January and April. Β We are now in July. Β Right?
Why? Β Well, this is just because of the earnings season. As you can see, trading is similar to sailing or flying. Β It does not matter whether one has the best engine or not, one must still decide what is the best time to fly or sail. Β I will not add more because I know you already understand what I am saying.
Those bad times in the markets also affect trading robots and software. Price goes ups and down all the time. Β That is also the case for the winning rate. Β So, one should only trade when doors are open and trade qualitatively. Β I said to day traders that the best time for day trading is the first two-hour when London and New York are open. That is 4H per day. Β
To swing traders I said, in my opinion it is better to enter a swing trade on Tuesday than Monday. Β And if a swing trader is in profit up to Thursday, bank some profits or secure gains before New York is closed. Β Friday is like Monday again and so on.
I am pleased that you are aware of the high frequency traders. Β Their influence has diminished a bit because many now know how they operate. Β It is always the same. Β A trading robot or software or HFT traders come and then few years later they start losing ground. Β Why? Β Well, if they are not flowing with the market principles, they will not last. Β
It doesn't matter what damage they have caused to others, they will either disappear or go bankrupt. Β Indeed, many HFT firms are now obsolete.
I am pleased with your attitude because you are using a demo account to improve your skills. Β Try to concentrate on your winning trades to see why they have been successful. Β Those are your strong points. Β Note down also the time and day you took those wonderful trades. Β Write down also the financial instruments that consistently friendly to you and trade those only.
I will stop here for now because I am writing too much this morning. Β I will get back to you in a few days. Β Having said all that, follow your destiny and decide what is good for you because that was my opinion. Β At the end of the day, nothing will stop you if you truly believe that you are born to take money out of the financial markets. Β
I wish you the very best in your trading and until the next time, enjoy yourself and be very happy.
Happy Trading George
I hope that Gmail to a technical trader has been helpful to you. Β Please put into use those small tips and tricks. Β Remember that technical trading or investing is similar to flying and sailing.
If that Gmail to a technical has been useful to you, please share and bookmark it. Β I will really appreciate it. Β Please do not hesitate to post relevant questions and comments at 24Stocktrader YouTube channel and in due course, I will get back to you.
If you are already a TSTW technical trader, feel free to send me a Gmail and I will surely get back to you. This article is written by George Beaulieu, founder of https://www.stochastic-macd.com
