The second situation I have found traders have and in that, I’m referring to myself as this is an ongoing in-time, real life, journey)
is that mastering their trading strategy is belief. With all the different trading systems and strategies out there, how can you know if what you’re doing is “right” or if you’re strategy will work if you don’t have belief in it? Well, the answer to that question is that you can’t know that your strategy will work if you don’t believe in it. the only way a trader can gain belief in their strategy is to practice it and the key is you have to try it over a large enough series of trades to see it play out.
“It’s a bit like martial art whilst training in the dojo repeating the karate kicks and one-inch punches over and over again next up to the wing jung dummy”.
All traders need to ask themselves these two questions: Do I know my trading strategy inside and out? Am I at the point where I can flick through the charts in 5 or 10 minutes and instantly know if there’s a setup worth trading or not? If you can’t answer an honest “yes” to both of these questions then you aren’t ready to trade live and you have not mastered your trading strategy yet.
A master trader needs to have completed at least three months of practicing their strategy over and over again in different market conditions. knowing when to deploy their strategy and when not to. Once a trader has complete belief in their strategy they will have the confidence to wait for their perfect set up and mastering their strategy will become as easy as riding a bike.
Here’s an example of a trader I once knew called Phillpe he was French and spoke with that suave accent. We were contacted at the time to trade this company’s client’s accounts and establish a client base from our trading results 40 bank st docklands. Phillphe went on to tell me of a lady trader where all she traded was a candle stick pattern called a pin bar (You have to say with the accent ) lol
Followed by 1 up bar, and that’s it that’s all she looked for and was very successful Nicking 10 to 25 ticks out of the market.
Mike another one of my mentors at orderflow trading.com gives some amazing insights into the real world of trading with an advantage. Mark Douglas who wrote the book The Disciplined Trader which should also be in every serious trader’s library has helped me tremendously and continues to do so.
In conclusion, discipline and belief are two main skills any trader must have to master their strategy and become successful. With these two attributes, a trader will have the ability to withstand any market noise, and any impulsive, trades gain full belief in their strategy and stick to their trading plan.
With an additional side note, all good strategies work at some point The trick its find the optimal times and cycles in which they work the best and give the best results and then repeat the process over and over again with each new cycle to find the pattern
The Sun is in each sign for around 30 days, hence the cycle of the 12 signs determines the length of our year. Sun in Virgo causes the harvest, with its symbolism of organizing and service, to become the standard for everyone’s behavior, especially at the beginning of this era. We are beginning to withdraw from the abundance of the growing season together with nature herself, gathering and storing our nuts for the winter. As befits a more sober weather forecast, we are becoming quieter and more serious and shifting into a more group-oriented attitude.
The Moon spends 2.5 days in each sign as its home. People may feel safe because the Moon is in the protective sign of Taurus. Today, you and everyone else around you will likely have a strong need to preserve the status quo. You won’t likely make a scene because of your instincts, which are becoming more conservative. Any challenge can be handled at this time very well.
You are expressively sensual while also maintaining emotional faithfulness. You’d do well to foster ongoing initiatives or finish any unfinished business something that genuinely satisfies your spirit because your inclinations to build and make something are awakened.
Since the low of 1883.231 on August 15th 2023, gold has been an impulsive 3rd wave up, rising to 1952.342.
With the sun rising, in harvest, and the moon in Taurus, we may advance with confidence to the finish line in a final 5th wave advance. Currently. Gold appears to be in a fourth wave consolidative phase right now and notably above the 200moving average on the 4hr time frame 1961.6
We are starting to pull away from the bountiful move up, and possibly move into a convective range bound price action with A strong need to preserve the status quo and finish any unfinished business in the coming week.
A break above 1950.00 should indicate that the last fifth wave in gold is underway leading us to 1965.50 to 1987.00
With Sagittarius in the mist, it has a deeper emotional impact in the quest for insights into how the world swirls and into the voyage of all types of experiences after leaving the tangible lifting of spirits from the ninth house of the zodiac. The adventurous traveller of life’s highs and lows experiences because of this the ninth house (Virgo) always steps back to see the wider picture, which can be difficult for someone who likes to discuss intricacies of a topic. The third house exhibits a skill for teasing out the details of a situation. such as adult education, religious institutions, travel, or publishing companies, government agencies, or otherwise broadening one’s horizons on important topics to others, like attitudes towards spirituality or other dimensions of the meaning of life
How far down the rabbit hole does it all go when one tries to increase their understanding of the world and their place in it? This may indicate a strong desire for exploration and cross-continental travel in search of adventure.