This heading for the article might be shocking, especially when it comes from someone who is in the business of teaching trading. But I have been working in the trading business quite some time now and I still haven't learned everything. I understand how to earn a living trading EFTs and also lose money when trading. Obviously I haven't learned everything. One sure fire way to lose money is to jump from technique to technique without spending enough time and effort on one to get it down pat. In my opinion trend following is the technique to learn inside and out.
By focusing on discovering, studying, pursuing and dominating a trading method that will preserve your economy, and maintain your personal equilibrium, you are a winner. If you waste your personal economy, and physical and intellectual energies, you are a loser. Determine your trading method and stay with it.
By starting to specialize, you will gain lucidity and your efforts will be more concentrated. This will provide a great amount of self-assurance when you can grab an upward trend then let go on the downward. With my system you have moneymaking opportunities whether the market is moving up or down.
Over 68% of the reason any one stock's price moves is sector-related. When you start thinking in terms of sectors and trends instead of individual stocks, you gain emotional control and mental focus. That feeling of overwhelm as you scan the thousands of publicly traded stocks, in thousands of Mutual Funds and ETFs can be narrowed down to the 46 sectors and a few indexes.
By implementing this one technique you can reduce the amount of hours spent observing the markets every year. Students at a higher level of training will watch 20 to 40 ETFs but by utilizing a mere handful significant gains can be realized.
By specializing you will sharpen your views and intensity. This will lend you the confidence needed to acquire rising stock and short-sell when the stocks are dropping.
Get clear about where you want to spend your time and energy. Refine your approach and get a feel for how to trade. Mastering this will make it so much easier to master your emotions when trading.
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