The Voodoo Trading Post - March 14, 2022
Here's our weekly snapshot of information that we hope will help in your journey as a systematic, rules-based, trader!
"All the math you need in the stock market you get in the fourth grade." - Peter Lynch
Trading Strategy Tips
- Embrace a systematic, rules-based, trading approach as there is no way to predict where the markets are going.
- As a trend following trader your trades will only be profitable around 35% of the time yet you can still outperform the market. This statistic is very liberating as you don't have to be right all the time to make money in the market.
For more Trading strategy tips be sure to review our tutorial on Building a Systematic Trading Strategy.
Weekly Instagram Trading Poll
Do you watch CNBC to help you with your trading decisions.....
Yes - 43%
No - 57%
To be a successful trader you do not need to watch or read any financial media. In fact watching CNBC can make it harder to be a successful because you will hear information that will contradict what the signals generated by your trading rules tell you to do making it more difficult to execute your trades and possibly resulting in you missing a hugely profitable trade.
What's on your watchlist? These are the strongest trending markets over the past month........
Recommended Trading Books
Reminiscences of a Stock Operator was first published in 1923 and it is one of the most widely read, highly recommended investment books ever. Although this book was published almost 100 years ago the lessons in the book and its take on crowd psychology are just as relevant today as they were in 1923. Definitely a must read!
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!
Very Good Layout
"This journal allowed me to organize my thoughts And trade ideas more efficiently. I was able to revert back to my plan." Jose L.
Printed Version Back in Stock!