The Voodoo Trading Post - January 31, 2022
Here's our weekly snapshot of information that we hope will help in your journey as a systematic, rules-based, trader!
"A peak performance trader is totally committed to being the best and doing whatever it takes to be the best. They feel totally responsible for whatever happens and thus can learn from mistakes. These people typically have a working business plan for trading because they treat trading as a business" - Van K. Tharp
Trading Strategy Tips
- You need to assemble a diversified portfolio of markets so you always have access to the best trending markets. Not all markets trend at the same time.
- Following the rules is the most important characteristic of a good trader. You should focus on trading correctly and not worry about performance.
Weekly Instagram Trading Poll
Do you ever place short trades......
Yes - 90%
No - 10%
A robust trend following trading strategy can work in both up and down markets but new traders should focus on trading the long side until they have a profitable track record.
What's on your watchlist? These are the strongest trending markets over the past month........
Recommended Trading Books
One of the common traits of the world's top traders is that a significant percentage of them are trend following traders. In this book Michael Covel goes into great detail explaining the trend following philosophy and that the key to trading success is executing straightforward and repeatable rules. Learn More
Please let me know what you think. What did you find most useful? What would you want more or less of? If you find this information useful please share with fellow traders.
Trade smarter, trade better!