Hey ,
Legends never die.
Why's that?
Because they leave legacies with us to carry on.
Athletic coaches, such as John Wooden and Vince Lombardi had many, many attributes to their 'Greatness'.
But they both agreed on one thing:
Fundamentals First, or how John Wooden used to say, "When life gets tumultuous, GET BACK TO THE BASICS".
I may not be a legend, nor do I believe my teachings are legendary. However, I am a firm believer in getting back to the basics, because this is what saved my own trading and shifted everything for me.
I can even pinpoint to the exact date when this shift started to happen. However, when it was happening it definitely didn't feel like any shift was taking place. Instead, it felt like the end of the world and I was the biggest failure.
April 23, 2013 my husband walked into our bedroom, where my desk and 3 monitors were set up. However, I wasn't sitting at my desk, I was laying on the ground, with my face flat to the floor, feeling completely and utterly defeated.
Not only because I just lost more money, almost $4,000 worth because, once again I chased a trade that someone in a trade room was saying was a "good trade". I didn't fully understand why, but if everyone in the trade room was saying it was good, and I have been training with this academy for quite some time now, then it must be good. But even when I was chasing the trade (or chasing my dream of being a profitable trader) I didn't know why it was supposed to be a "good trade".
Yet I did it, and instead of putting in my stop-loss marker, I put in a "mental stop", and we all know how successful they are. NOT.
And within literally 3 minutes, instead of getting out, I was letting my ego take over and I ended up losing my whole account.
But, like I said above, it wasn't only for the huge loss of the money, I felt like a total loser, because for the 2 years leading up to this moment I'd been trying so hard to follow other people's trades, never understanding the market, and losing.
I felt like my dream of becoming a trader was crushed.
I felt like admitting all of this to my family was worse than the financial loss
I felt like a total failure
Finally, I stepped away, with my husband's advice.
But I couldn't STAY away. I decided to come back to the market with a different perspective.
First of all, I removed my 3 monitors and decided to only use the one chart. I stripped my charts of the 10 indicators I was using and started to only go bare naked charts.
After a few months of watching and reading the charts and price action, that's when I realized I did need indicators and decided (after lots of backtesting) to go with 2 indicators.
And that's when I got back to the true basics.
Being trilingual, I realized that the market talks to us, but if I don't understand the basic words it is using, I can never move forward.
What are those basics?
Divergence, Reversal Patterns, Support, Resistances, Sideways movements, and more. . .
Once I started to apply these to my every day trading, I never looked back. (And, I go over them every week!). This shift has resulted in my trades being 85% winners.
Now, I want to do the same for you.
Starting on November 17, Tuesday) I'm doing a FREE 7 Day LIVE Back to Basics of Day Trading Challenge.
Are you in yet? Don't wait!!
https://thetraderchick.com/back-to-the-basics-of-day-trading-challenge/
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