GMail To Technical Trader
On the 13th of July 2020, I received a Gmail from a TSTW SYS 008 technical trader. I read it and took some time to digest it. On the 17th of July 2020, I replied to that Gmail. I will not mention the name of the technical trader, but all I would say is that I like very much his attitude or approach to technical trading.
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.
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. Here it is.
Thank you for your email. I have taken some time to digest your email. I understand what you are trying to do. 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. That was years ago. I used them for three months or so then I abandoned them altogether because they have not made me a better trader. My goal was to learn to trade like a pro. Personally, I do not recommend trading software because I do not use them. I am not saying that they do not have their place. Usually, trading firms or investment banks use them. They may be suitable to some traders.
However, they will only make money for traders who know how to trade or invest. It is strange but I have discovered that the financial markets only reward those that understand them.
I think etoro and other brokers now offer their clients the chance to watch other traders and copy their trades. The fact is that everyone will have some bad trading weeks. 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. Traders also lose a lot in the months of July, October, January and April. We are now in July. Right?
Why? Well, this is just because of the earnings season. As you can see, trading is similar to sailing or flying. 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. 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. That is also the case for the winning rate. So, one should only trade when doors are open and trade qualitatively. 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.
To swing traders I said, in my opinion it is better to enter a swing trade on Tuesday than Monday. And if a swing trader is in profit up to Thursday, bank some profits or secure gains before New York is closed. Friday is like Monday again and so on.
I am pleased that you are aware of the high frequency traders. Their influence has diminished a bit because many now know how they operate. It is always the same. A trading robot or software or HFT traders come and then few years later they start losing ground. Why? Well, if they are not flowing with the market principles, they will not last.
It doesn't matter what damage they have caused to others, they will either disappear or go bankrupt. Indeed, many HFT firms are now obsolete.
I am pleased with your attitude because you are using a demo account to improve your skills. Try to concentrate on your winning trades to see why they have been successful. Those are your strong points. Note down also the time and day you took those wonderful trades. 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. I will get back to you in a few days. Having said all that, follow your destiny and decide what is good for you because that was my opinion. 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.
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. Please put into use those small tips and tricks. 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. I will really appreciate it. 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
