Why You Should Be A Fussy Trader
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#550: Why You Should Be A Fussy Trader
In this video:
00:27 – Learn to be a fussy trader.
00:40 – What does your favourite sportsman do differently?
02:39 – Become an elite trader.
03:24 – Know your strategy and have a plan.
04:15 – Trades from this week.
04:52 – Get on my Masterclass and book a call with us.
05:07 – Blueberry Markets as a Forex Broker.
05:30 – Comments, Like & Subscribe.
I want to explain to you why you need to be a fussy trader and I mean a really, really fussy trader in order to do well. Let’s get into that and more right now.
Hey there, traders! It’s Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 550.
Learn to be a fussy trader.
Today I’m going to explain why you need to be fussy. A really, really fussy trader. You don’t need to be reckless. You don’t need to be risky. It’s the way that you can ensure that you do well from your trading.
What does your favourite sportsman do differently?
Let me give you some examples. Think of your favorite sports person or sports team. What are they doing to make themselves the elite and so much better than everybody else at that?
Think of a tennis player, for example. You know, all the shots they play, they’ve played with precision. They practice them. They practice on different surfaces, you know, like clay or grass, concrete, whatever it is that they play on. And they know what they’re doing. They know how to hit the ball. The angle that the spin, everything that they look at.
As a tennis player, they know what they’re doing. So they play with accuracy and precision. They are fussy. They’re not. They’re just playing reckless shots like an amateur player would sometimes do.
You think of a golf player. You know, the practice, they go through the methodical set up that they have in their stance and their grip and the practice and the hours and hours that they go through with putting and chipping and driving.
And so when they play that game, they not out there playing reckless shots and trying to bend the ball, round corners and do all silly things that, again, an amateur player or someone like myself would try and do, you know, which sometimes you can fluke it in a majority of the time it goes wrong. And so that happens in every sport.
Think of a footballer or soccer player. For me, I’m a cricket fan. You think of like a batsman playing cricket. It’s all about defense, defense, defense attack at the right moment. So that comes from hours and hours of practice of getting your technique right. It’s all about technique and being fussy. If you think about cricket and a batsman, as soon as you’re out, you’re out. You know, that’s your job done and it’s over.
You can’t contribute a lot more, you know, as a batsman. And so it’s all about being very defensive and very watchful when the moment comes to attack your strike, your attack.
Trading is the same. It doesn’t matter what sport the you like out there and it’s all the same.
Become an elite trader.
And so to become an elite, trader think of it in the same way. Be fussy, don’t be risky, don’t be reckless with what you’re doing in your training. And you wouldn’t believe how many people come to me and they show me trades that they have open and go Andrew I took this trade and I go back to them and go, Well, why did you take that trade? What’s your reasoning? Why did you take that risk?
Why was you stop loss there? Why was profit there. What was it about the trade that you saw? And I just felt that the GBP/USD was going up. And so there’s that lack of thought of common sense that goes into trading. And so I just find that so many people out there are just too reckless, too risky when it comes to their trading.
Know your strategy and have a plan.
To be a good trader, you need to understand your strategy, have a plan. You need to know what you’re entering, when you’re going to enter it, why you’re entering it.
So it’s all about being selective with your trading. Another great example is right now, as I’m making this video, it’s Friday, the 5th of July here in New Zealand.
That means it’s still Thursday, the 4th of July in America, which is their big 4th of July holiday. The UK elections are about to be released like the polls are closing right now. So making this video. And then on Friday in American Time, we have the monthly jobs news. I’m not taking any trades today. It is utterly pointless.
The market could be very dead. It could be reactive. Who knows? So as a professional trader, my decision is not to trade today. Yet when the market’s moving and there’s lots of activity and I’m seeing good set ups, then I’m taking trades.
Trades from this week.
I’m not sure if you can see behind me here, but I’ve got a list of trades here that I’ve taken just this week that have been on our membership side and on the forum side.
I’ve got trades from what H1 Charts to H8. There’s a H6 there’s a couple H4 chart behind me there. Every single one of them are profitable. And so earlier in the week we had some great trading conditions. And so we saw the trades, we took the trades. They’re all green lights. You may not be able to see it there, but they’re all profitable trades.
And then for Thursday and now going into Friday, I’m not trading because it’s not a wise decision to do that. So again, it’s about being fussy with your trades, not reckless, not risky.
Get on my Masterclass and book a call with us.
Now, if you’d like to find out how we can help you to become a fussy and good trader, if you haven’t been on my 17 minute masterclass, a link to that here.
If you’d like to book a call with myself or one of my team up our links, you can do that as well.
And if you’re out there looking for a very high quality forex broker and these guys are fussy when it comes to their customer service and they’re quality fussy and a great way and that they are, you know, very, very good at what they do.
Blueberry Markets as a Forex Broker.
I can highly recommend the broker Blueberry Markets, they base in Australia and pretty much anybody anywhere in the world can open an account with them and I put a link to them as well.
Comments, Like & Subscribe.
So if you like this video, don’t forget to Like, Share and Subscribe, or if you’re listening on the podcast, share it around and any other topics you’d like me to talk about on future videos and podcasts.
Please either leave a comment or send me an email directly. Andrew@TheForexTradingCoach.com and I answer all those emails personally myself. I see you this time next week. Bye for now!
Episode Title: #550: Why You Should Be A Fussy Trader
Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
Book a Call with Andrew or one of his team now
Click Here to Watch Prop Firm Masterclass
Podcast: Play in new window | Download
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