Good Trading Does NOT Need to be Complicated
#528: Good Trading Does NOT Need to be Complicated
In this video:
00:27 – Don’t make trading harder than it needs to be.
01:25 – You need a simple and solid strategy.
02:16 – The 3 things that can happen in the market.
03:02 – The 2 basic patterns we trade.
03:50 – Trading is a probability, not a guarantee.
04:32 – Book a call and attend my Masterclass.
04:45 – Trade through Blueberry Markets.
Good trading does not need to be complicated. Don’t forget, the wheel is simply round and it works. So let’s talk about that and more right now.
Hey, there traders! Andrew Mitchem here at the Forex trading Coach with video and podcast number 528.
Don’t make trading harder than it needs to be.
I want to talk about a topic that a lot of people get stuck in their minds and they think that trading needs to be overcomplicated. They think it needs to be difficult and they get this, I suppose, perception by thinking that like it’s something only the pros do or it’s something you need to be in a 50 story, you know, tower block in London or Dubai or New York or something, and you need to walk around in a big flash suit and shirt and tie in order to be a good trader.
And so I think people get the impression that you need all these complicated systems and algorithms and things going on and insider knowledge of what’s happening in order to do well at trading. And the reality is you don’t need any of that to do well at trading.
You need a simple and solid strategy.
Well, you need a good, simple, solid strategy that works. And like most simple things, they work. Again, like I said, think of the wheel. Don’t reinvent the wheel. It’s round. It’s simple. It cannot be more any more simple. And it works. You know. Other examples. I love cooking. So what’s my favorite medium to cook on? You know, you can have all your electrics and gases and all the rest of it. Fire is with that that the best in terms of enjoyment and certainly taste and flavor.
You know to cook on fire and charcoal. Nothing beats it. And why? Because it works. And why? Because it’s simple. Trading is exactly the same.
The 3 things that can happen in the market.
Now, putting it in absolute basics. What can happen in the market? In any currency pair, any market, It’s going to go up. It’s going to go down. It might go a bit sideways, a bit rangebound.
That’s really all that can happen. So the market’s going sideways. Okay. Rangebound generally for the way I trade means there’s no trades there because I’m looking predominately at candle pattern and that’s my initial set up is the candle. If it’s rangebound, there’s nothing, you know, there’s no prior indecision. It’s just going flat. It’s not over bought. It’s not oversold. it’s got a trend line break.
So therefore no trade. Very easy just to move on to the next market.
The 2 basic patterns we trade.
And so we look at two quite basic and quite simple patterns, and we look for continuation patterns and we look for reversal patterns. And so those two are really when it comes down to it, all we teach and all we trade and it’s all we’ve ever taught and traded because they work, because they’re simple, they’re easy to identify.
Now when I go through and look at trades that have been successful and I go through our forum site, I go through our webinars. I go to our daily trades and I analyze my trades and I go back and look at the trades that have been really good. They pretty much all take all the boxes of what we’re looking for a successful trade.
Trading is a probability, not a guarantee.
So trading is not a guarantee, it’s a probability just because the patterns worked for the last five times and you see it again, it’s not a guarantee it’s going to work this time. It’s just a probability that with everything stacked in its favor, it’s likely to work. And so that’s when you stop bringing money management, reward risk, etc. into it as well.
Strength and weakness, all those other things. But ultimately trading should be if it’s enjoyable and it’s something that you can continue to do. You know, years ago today, years into the future, it has to be simple because it works exactly like that wheel is simple because it works and nothing can beat it.
Book a call and attend my Masterclass.
If you’d like to know more about how we trade, how we teach, you can book a call to have a chat with myself, one of my team. You can jump on to one of my masterclasses. It’s a free on demand masterclass.
Trade through Blueberry Markets.
And they’re looking for a broker. I can highly recommend. Blueberry markets are a link to the masterclass. A link to blueberry and a link to have a chat with us on the description by this video and podcast.
This is Andrew Mitchem at the Forex Trading Coach. Make trading simple because it can be. It should be. When you do it that way, it’s more profitable and certainly more enjoyable. I see this time next week, bye for now!