New Year New Habits
Hi, you can find a recording of the live training session at the bottom of the page. As ever we looked at trading longer timeframes, M2, Pierre’s 4 hour Earth & Sky and the 30 minute M3 strategies.
You have all the tools, knowledge and even more, the money to trade, right here at your fingertips BUT for many of you it’s time to rethink how you are approaching your trading.
I explained that I have hired a guy to help me lose some weight, get fitter, and eat healthier.
Like most folks, I go on a diet every year and usually manage to lose some weight but within a couple of months I revert back to my normal bad habits.
So this year I thought if I pay someone who is a nutritionist, chef and exercise dude (an expert) who will monitor my performance and kick me up the butt if I don’t stay the course, I might have a better chance of success.
He is also teaching my wife and I how to make our own healthier food from scratch rather than buying pre-packaged from the supermarket.
Our hope is that we will break out of the old habits and create new ones that we can continue in to the future.
It’s the same with trading. I struggled for 3 years repeating the same mistakes over and over until I went off and found our own Rich Friesen. If you are currently struggling or could do better you need to “reset” your trading clock. Take a long hard look at yourself and make a new plan.
I don’t have much time to take private students this year, BUT these are the same steps I get new students to follow and implement, so its all here in front of you at no extra cost 🙂
I covered these subjects in recent posts that you can find here:
New Year New Habits
How to Become a Professional Trader
I also updated folks for a few minutes on my thinking re some of the bigger crypto and how I use profits from smaller coins to move into larger ones. Last week I moved part of a 400% profit in one of my smaller ones into Ethereum & Bitcoin and they then doubled within a week.
I use a mixture of fundamental and technical analysis that we teach here at FMP to make my buy & sell decisions. Founder members from May are now up over 300% BUT it can be a wild ride and you need to understand what’s going on and then how to decide which ones to invest in.
I have created a mini cryptocurrency course for FMP members so you can understand my reasoning and the basics of getting involved. I also showed in todays session how “spookily accurate” 🙂 my M2 strategy is at pinpointing entries with cryptocurrencies:
M3 Shorter timeframes
See the new course & recent blog posts as to how I do this: I do my analysis on daily and weekly charts first and make a note of the MAJOR areas of support and resistance. Then copy them on to Pierre’s Earth and sky template. Then I make a note of the weekly & monthly pivots points and add them to the charts. You will see lots of opportunities line up during the week. The important thing then is to select a bias for the next few days and do NOT take trades if the price is too near a trend line or pivot. Ideally, you want to buy when the price is near a major support and or pivot point line and has the potential to make at least 40 pips. Vice versa for a short.
New members, please note: If I am looking to take a trade long, for example, 1.5000, I place my order 10 pips above & 10 pips below for a short. This is because price often does not quite reach a major line and you need to allow for spreads.
We are NOT a “tipping service” our aim is to teach you how to trade fo r yourself.
For more up to the minute, updates do not forget to drop by the forum.
Check out the video to see everything we covered. Have a great week, catch you later 🙂
Marc
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