The Voodoo Trading Post - March 29, 2022
Here's our weekly snapshot of information that we hope will help in your journey as a systematic, rules-based, trader!
"Amateurs think about how much money they can make. Professionals think about how much money they can lose." - Jack Schwager
Trading Strategy Tips
- Avoid listening to other peoples ideas and stock tips. You need to become self sufficient to succeed in trading.
- Print out the charts for all trades and draw on the chart (trend lines, support and resistance, etc.) to figure out what went right or wrong with the trade. You need to understand why you made or lost money on a trade and learn from each and every trade.
For more Trading strategy tips be sure to review our tutorial on Building a Systematic Trading Strategy.
Weekly Instagram Trading Poll
What was most helpful in your trading education.....
Trading Books - 33%
Trading Podcast - 11%
Trading Courses - 56%
Check out some of the Trading Books and Trading Podcast we have highlighted on our website. I have read and listened to hundreds of books and podcasts I think that the ones we have highlighted are some of the best. Keep an eye out for our flagship trading course "How to Build a Systematic, Rules-Base, Trading Strategy" which will be completed later this spring.
These are the strongest trending markets over the past month. Is your trading strategy capturing some of these trends?
Recommended Trading Books
Come Into My Trading Room is the follow up book to the bestselling book Trading for a Living. In this book Dr. Elder reviews trading basics along with the crucial psychological tactics for the discipline and organization skills that all successful traders require. The book includes a section on the importance of using a Trading Journal .
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!
"My experience with this journal was awesome. I looked at a few others and this had the most thought put into it and the fact you offered a printed version. There is something to be said the way we remember things when we write them which was my number one feature I was looking for." Kyle D.