- Trade Like A Business
- Trading the Market Zones for a Profit
- Your Guide to Letting Your Profits Run
- Key Points to Accelerate Your Learning Process
- Discipline - Why You Don’t Have It. And How to Get It
- Transitioning from a Demo to a Fully-fledged Trading Account
- Why Traders Overtrade
- Learn to Trade the News Putting the Odds in Your Favour
- Setting Profit Goals: in Pips or Percentage Gain per Day?
- How time consuming is Forex trading?
- How to Let Profits Run?
- Get Prepared to Beat Your Previous Trading Achievements
- How to Trade the News Effectively
- Create a Trading Battle Plan
- Solution Focused Trading
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How to Generate Above Average Returns from a Small Trading Account
Jason Stapleton is a trading coach and mentor who has trained more than ten thousand traders in over 80 countries. Here’s what he’s learned.
You have the advantage
Generating 5, 10 even 20% returns a month is not impossible. Many traders think that because they have a small account they are hampered from trading like “the big guys”. This is nonsense.
Large traders have to scale in and out of positions over time to keep from moving the market. (Yes, even in FOREX).
As a small trader you can enter and exit at a seconds notice. This is a huge advantage over institutional traders. Use this advantage. Take your losses quickly. You can always re enter a trade if you find out you were right.
Fundamentals don’t matter
It may come as a surprise but markets are not driven by fundamentals. They are driven by psychology.
One of the biggest mistakes I see new traders make is paying too much attention to news.
In order to profitably trade news events you must predict 2 things correctly.
a. The news event itself
b. How the market will react to that news.
Take non-farm payrolls. To profit from this news event you must accurately predict both the NUMBER and the REACTION from the traders in that market.
These are two things that you cannot possibly know prior to the news event and there is simply no way you can consistently predict the outcome of two things you cannot possibly know.
Instead, base your decisions on how the market reacts to the news. You will fare far better.
Charts tell a story
A market is really just a collection of people all pursuing their own self-interest.
The charts reveal to us the RESULT of the ACTIONS all market participants make.
If you want to know where the market will go next, look left, structure leaves clues. It doesn’t matter what market sentiment is or what some pundit on tv says they are going to do. All that matters is what action they actually take. The chart tells us who wins the battle.