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- Herausgeber: John Wiley & Sons
- Kategorie: Fachliteratur
- Sprache: Englisch
Raise your trading game by incorporating lessons from outside the financial markets In The Complete Trading System: How to Develop a Mindset, Maximize Profitability, and Own Your Market Success, veteran trading strategist Casey Stubbs delivers a comprehensive and holistic guide to making money in the financial markets. In the book, the author presents an insightful framework for focusing your entire lifestyle on the art of trading and for harmonizing the different components of your trading strategy. You'll learn to set the foundations for successful trading and develop your mindset into one that's capable of dominating the markets. You'll also discover: * A deep understanding of how markets move and what that says about what's going on behind the scenes * Leverage momentum to find accurate and powerful entries and exploit market flow and key levels to get an edge on bank traders * Use candlestick and chart patterns to obtain confirmation and improve confidence in your trades An essential resource for market participants and day traders, The Complete Trading System is a singular and incisive roadmap to improving your risk-adjusted returns in the financial markets.
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Seitenzahl: 278
Veröffentlichungsjahr: 2023
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Table of Contents
Cover
Ttile Page
Copyright
Dedication
Introduction
My Personal Introduction to Trading
Part I: Critical Foundations for Successful Trading
Chapter 1: The Foundations for Successful Trading
Trading a Simple System
The Power of Consistency
Biggest Obstacles to Success
Not Following a Strategy
Not Taking Responsibility for Success or Failure
Risk Management Failure
The Science of Addiction
Revenge Trading
Quitting Before Having a Breakthrough
Summary
Notes
Chapter 2: Mindset: Developing the Mental Game to Dominate in the Markets
Commitment to Trading Success
Time Cost
Educational Cost
Capital Cost
Believe in Your Eventual Success
Taking Responsibility for the Outcome Is Critical
Developing a Mindset of Integrity
Control Is an Illusion
Creating Good Habits for Long-Term Trading Success
Make a Plan for When You Fail
The Benefits of a Trading Journal
Intentional Journaling to Improve Brain Function
Using Online Brokerage and Charting Patterns to Track Results
Improving Mindset through Study and Education
Summary
Notes
Chapter 3: How Markets Work: Knowing This Gives You an Edge
Factors Responsible for Market Movement
How Emotions Move Markets
Trapped Traders
Markets Are Moved by Supply and Demand
Identify Supply and Demand on Charts
Stock Markets Have the Same Behavior as Traditional Markets
Use the Magnet for Your Benefit
Summary
Notes
Part II: Technical Trading of the Market
Chapter 4: Trend Trading to Get High-Probability Setups
A Trend Is a Powerful Force
The Power of Taking Action
Technical Aspects of a Trend
Using the 10 EMA to Identify a Trend
Definition of “Time Frame”
Trend Line Breaks
How to Trade with the Trend
Summary
Note
Chapter 5: Support and Resistance Level Trading Strategy
Strength of Levels
Level Analysis System
The Power of Level Trading
Consolidation and Ranging Markets
How to Trade Using Support and Resistance
Summary
Chapter 6: Candlestick and Chart Patterns to Give Confirmation and Confidence to Your Trading
Candlestick Basics
Bullish Pinbars
Bearish Pinbar
Two-Candle Patterns
Engulfing Candlestick Patterns
The Morning Star Candlestick Pattern
The Evening Star Candlestick Pattern
Tweezer Bottom Patterns
Double and Triple Bottoms and Tops
Head and Shoulders Pattern
Megaphone Pattern
Summary
Chapter 7: How to Trade with Indicators Using These Tools to Get Laser-Targeted on Your Entry
The Purpose of Indicators
Moving Averages
Moving Average Convergence Divergence
Multiple Ways to Trade the MACD
RSI Trading Strategy
RSI Divergence Explained
Using RSI as a Momentum Indicator
Summary
Notes
Part III: Implement Your Trading Strategy and Achieve Your Goals
Chapter 8: Daily Trading Process to Create High Performance and Consistency
Consistency Is a Trading Superpower
Buttering Your Potatoes
Increase Capacity by Increasing the Size of Your Container
What Is a Trading Process?
How to Create a Trading Process to Constantly Improve
Summary
Notes
Chapter 9: How to Form a Daily Trade Plan: Preparing for Market Success
Start with Weekly Charts
Daily Levels Are the Next Part of My Daily Trading Process
Fifteen-Minute Charts for the Entry
Ups and Downs Are Part of Trading
Summary
Note
Chapter 10: How to Find Entries: High Performance with Everything Working Together
The Complete Strategy
Breakouts and Reversals
Fake Break and Reversals
Take-Profit Levels and Stop Loss
Managing the Trade Once It Is Open
Summary
Chapter 11: Risk Management Strategy for Trading Mastery
What Is Risk Management?
Keep Your Losses Small
Small Gains Add Up Over Time
How Much Money Should You Risk?
Risk Examples to Help You Build a Risk Management Plan
Winning Larger Trades Than You Lose
Safe All-In Fast Growth Method
Stock Trade Management Plan for a $50,000 Account
Forex Trading Risk Management
Summary
Note
Chapter 12: Creating a Road Map for Massive Success
A Big Vision for Trading
Create a Plan for Trading Mastery
Small Goals and Mile Markers
Schedule Review Periods on a Regular Basis
Summary
Note
Part IV: Maximizing Profits
Chapter 13: Profit-Maximizing Strategy
Beginnings
Trading Time for Money
Investing Trading Strategy
Invest in New Technology
Invest in Leadership
Invest in the Top of the Field
The Power of Dollar Cost Averaging
Don't Stop Investing
Important Notes on Dollar Cost Averaging
Summary
Notes
About the Author
Acknowledgments
Index
End User License Agreement
List of Illustrations
Chapter 3
Figure 3.1 Emotions to Be Aware Of
Figure 3.2 Traders Enter on a Breakout but Get Trapped
Figure 3.3 When Demand Dries Up, Price Rapidly Falls
Figure 3.4 The Arrows Show Support Levels
Figure 3.5 The Arrows Show Resistance Points
Chapter 4
Figure 4.1 Higher Highs and Higher Lows in a Proper Uptrend
Figure 4.2 Structure of a Downtrend
Figure 4.3 Structure of a Downtrend Focusing on Resistance Areas
Figure 4.4 Long-Term Trend S&P 500
Figure 4.5 SPY Trend Continuation Trade Setup
Figure 4.6 Trend Line Breaks Are a Type of Resistance Break and Can Be Effec...
Figure 4.7 Areas to Enter Trend Trades
Figure 4.8 Ranging or Consolidating Market before Trend Continues
Figure 4.9 Trend Trade off of Resistance Level
Chapter 5
Figure 5.1 Support and Resistance Levels—Begin Practicing Drawing Them
Figure 5.2 This Is a Trend—Channel Support Is at the Bottom and Resistance a...
Figure 5.3 Bitcoin Is Breaking a Support Level, Which Indicates More Selling...
Figure 5.4 Buy on a Bounce of Support as Shown in the Image
Figure 5.5 Notice Price Moving with Volatility above in the Range—Avoid Trad...
Figure 5.6 Better Location to Take a Trade because of Clear Support and Smal...
Figure 5.7 Price Consolidating Near a Resistance Zone before Taking a Massiv...
Figure 5.8 Strong Consolidation Phase—Wait for a Breakout to Trade
Chapter 6
Figure 6.1 Price Data Displayed in Each Candle
Figure 6.2 Bullish Pinbar Is a Bullish Price Action Pattern
Figure 6.3 Bearish Pinbar Closes Below the Open Price
Figure 6.4 Bullish Engulfing Candle Envelopes the Entire Candle Closing High...
Figure 6.5 Bearish Engulfing Candle Envelopes the Entire Candle Closing High...
Figure 6.6 Morning Star Candlestick Pattern
Figure 6.7 Evening Star Candlestick Pattern
Figure 6.8 Tweezer Bottoms Show Price Bouncing off an Area
Figure 6.9 Double Top Indicates a Possibility of Price Dropping Further
Figure 6.10 Double Top in a Downtrend
Figure 6.11 Double Top Reversal Pattern
Figure 6.12 Triple Top, Three Rejections of Trend Continuation
Figure 6.13 Triple Bottom Indicated a Solid Reversal Trade
Figure 6.14 Head and Shoulders Pattern
Figure 6.15 Head and Shoulders and Neckline
Figure 6.16 Zoomed Out Head and Shoulders Pattern
Figure 6.17 Megaphone Pattern Is a Continuation Pattern
Figure 6.18 Using Megaphone Patterns Can Help Avoid a Fake Breakout
Chapter 7
Figure 7.1 Moving Average Breaks Up and a New Trend Begins
Figure 7.2 EMA Price Breaks Below and a New Downtrend Begins
Figure 7.3 MACD Indicator below the Chart
Figure 7.4 Components of the MACD Indicator
Figure 7.5 Convergence on the MACD
Figure 7.6 Price Moving Down, Indicator Moving Up—This Is Divergence
Figure 7.7 False Signals
Figure 7.8 Arrow Pointed at MACD Zero-Line Cross—A Good Entry Signal
Figure 7.9 RSI Is Calculated during 14 Days (in the Box)
Figure 7.10 RSI Trend Zoomed Out
Figure 7.11 Oversold RSI Setting Up a Buy off a Bounce off a Key Support Lev...
Figure 7.12 Two Divergence Setups
Figure 7.13 RSI Crossing above the 50 Line
Chapter 8
Figure 8.1 John Assaraf Teaching on the Power of the Brain
Chapter 10
Figure 10.1 Four Confirming Factors of a Trade
Figure 10.2 Six Confirmations to Take a Trade
Figure 10.3 Six Trade Confirmations
Figure 10.4 Great Example of a Breakout
Figure 10.5 Great Breakout Example
Figure 10.6 There Was a Fake Breakout before the Real One
Figure 10.7 Rising Diagonal Trend Is Helpful for Identifying Potential Fake ...
Figure 10.8 Range Trading Place Stop below Support
Figure 10.9 Hitting Take Profit Near the Top of the Range
Chapter 11
Figure 11.1 The Bigger the Drawdown the Harder It Is to Recover
Figure 11.2 Small Gains Over Time Equal Large Returns
Figure 11.3 1% Gain per Month for 20 Years
Figure 11.4 Winning Percentage Needed versus Trade Size to Be Profitable
Figure 11.5 Domino's Pizza Bullish Trade Entry
Figure 11.6 Massive Trend Trade with Very Good Risk Management
Chapter 13
Figure 13.1 The Value of Your Money Gets Less
Figure 13.2 Price of Intel in the Late 1990s
Figure 13.3 CSCO in the Late 1990s
Figure 13.4 Ford Motor Company in the Late 1990s
Figure 13.5 Lockheed Martin in the Late 1990s
Figure 13.6 Dollar Cost Averaging Bitcoin
Figure 13.7 Dollar Cost Averaging Apple
Figure 13.8 Dollar Cost Averaging Domino's Pizza
Figure 13.9 Dollar Cost Averaging Tesla
Figure 13.10 Dollar Cost Averaging McDonald's
Guide
Cover
Title Page
Copyright
Dedication
Introduction
Table of Contents
Begin Reading
About the Author
Acknowledgments
Index
End User License Agreement
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The Complete Trading System
How to Develop a Mindset, Maximize Profitability, and Own Your Market Success
Casey Stubbs
Copyright © 2023 by Casey Stubbs. All rights reserved.
Published by John Wiley & Sons, Inc., Hoboken, New Jersey.Published simultaneously in Canada.
No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 750-4470, or on the web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at http://www.wiley.com/go/permission.
Trademarks: Wiley and the Wiley logo are trademarks or registered trademarks of John Wiley & Sons, Inc. and/or its affiliates in the United States and other countries and may not be used without written permission. All other trademarks are the property of their respective owners. John Wiley & Sons, Inc. is not associated with any product or vendor mentioned in this book.
Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Further, readers should be aware that websites listed in this work may have changed or disappeared between when this work was written and when it is read. Neither the publisher nor authors shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages.
For general information on our other products and services or for technical support, please contact our Customer Care Department within the United States at (800) 762-2974, outside the United States at (317) 572-3993 or fax (317) 572-4002.
Wiley also publishes its books in a variety of electronic formats. Some content that appears in print may not be available in electronic formats. For more information about Wiley products, visit our web site at www.wiley.com.
Library of Congress Cataloging-in-Publication Data is Available:
ISBN 9781394188123 (Hardback)ISBN 9781394188109 (ePDF)ISBN 9781394188116 (ePub)
Cover Design: WileyCover Image: © Justimagine/Adobe Stock PhotosAuthor Photo: Courtesy of Casey Stubbs
I dedicate this book to the Lord Jesus Christ, who rescued me when I didn't deserve it.
Introduction
I want to begin by thanking you for purchasing this book. It is my sincere desire that you find this to be a valuable tool that will assist you to become a successful trader. I hope to meet many of you who purchase this book. To get the most out of it, I recommend that you contact me and introduce yourself. You can do that by going to my podcast at https://tradingstrategyguides.com, listening to an episode, and then reaching out via email.
This book teaches a complete trading system that works in all markets. Once you learn this system, you will be able to make money consistently from the markets.
This book is about trading, and it is not about trading. One of the most important things you need to understand is that trading actually isn't about trading. What I mean is that many of the things I have learned to help me become a better trader are not learned during trading but during other vital areas of my life. For example, recently I began training for my first marathon, during which I learned about proper running form and how to check in with myself every few minutes. What I realized is that the same skill set is critical for trading: proper running form is analogous to taking proper trading setups, and checking in with myself correlates to having a checklist to make sure that I am always taking the right trades.
Such preparation for success is critical in trading, and that preparation to be better in one area of your life will carry over into the next. We are complete human beings, and what we do in our personal life matters in our trading, and what we do in our trading matters in our personal lives.
That is one of the key things I want you to get from this book.
I am going to teach a great strategy that is not taught in any other trading books. However, this book is much more than a strategy. If you bought this book looking for a strategy, be assured that you will get a great strategy, but you will also get so much more. I think you will be surprised at what you will be able to take away from this book when you finish it.
I use many stories outside of trading to illustrate the points I am making. I do this for two reasons:
I learned more about trading while doing other things. When I work at raising my family, I learn things that help my trading; when I train for running I learn about trading. When I manage my business, I learn about trading. These lessons outside of trading have helped me become a better trader.
Stories hammer the point home, so that you can remember and apply it. These stories and illustrations solidify the lessons I am trying to teach.
As a trader, you should study trading but also have additional hobbies and interests in life and apply the lessons you learn from those things to trading. Remember this: we trade to live, not live to trade.
I wrote this book because I want to get a simple trading strategy in the hands of as many people as possible. Trading is one of the biggest industries in the world. It's the only one where average people like you and I can work from home and make an unlimited amount of money.
Becoming a successful trader is one of the greatest opportunities for building a life with financial security. It is a path to freedom because with financial security you can travel and do things that you want to do.
Be warned though: there are many dangers along the way. Most traders are totally unprepared for what they face when they first start trading. This book will highlight many of those dangers to help you navigate successfully.
This is not a road to getting rich quick. This is a path of small, consistent steps. To grow, you start small. Many times, traders see big dollar signs and believe that this will be an easy road. (I thought this!) It's not. The road will, however, be full of adventure and excitement. And if you choose to walk down this path and do not give up, there's a great reward.
Throughout this book, I share the strategies and tools you need to be a successful trader. I also share my stories and the struggles I had to overcome so you can learn from those and use those lessons as an aid to help you navigate on your own journey to becoming a successful trader.
I also share the stories of the traders I have interviewed on my trading podcast How To Trade It: Talking with the World's Most Successful Traders (https://tradingstrategyguides.com/).
I have designed this book with additional resources. There are sections in the book that have a companion video series. The video series would sell for $297. I'm giving it away as a free bonus for everyone that purchases this book. You can find this free video series titled The Complete Trading Strategy at https://tradingstrategyguides.com/book. You will be able to identify these special bonuses because they will look like this note.
When you trade, you are up against some of the smartest and most skilled traders in the world and some of the most expensive equipment and research. The best computer algorithms are competing against the average retail trader, and the challenge is great. And here we are as retail traders. We go out there trying to beat the best of the best. It's like me telling you to suit up with the Pittsburgh Steelers and jump in as the starting quarterback.
I do not tell you to discourage you, I tell you this because I want you to take it seriously and prepare. You can do this if you are willing to do what others are not, and to put in the work to become great.
I look forward to hearing about your future success from learning the complete trading system.
My Personal Introduction to Trading
When I was growing up in the 1980s, my aunt Mary worked for Intel, the computer chip manufacturer. She taught me and my siblings about computers, how to use them and take them apart and put them together. I loved it. It was fun. I wanted to learn everything I could about computers, and playing games was great too.
However, I had no idea that she was teaching me a valuable skill. That skill would be a blessing to me for my entire life, one which I would use going forward. It would help me have great success in trading and in business.
This skill began to help set the path for my trading future. During my teenage years, my dad was very involved in stock trading. He wanted to learn how to trade online, but he didn't really know anything about computers. This was back when online trading just got started. At that time, he asked us to help him get set up trading online. That was in the early nineties. I was about 16 or 17 years old at the time.
When I was teaching my dad how to set up the stock trading system, I got very excited about stocks. That created an instant desire to start trading, and, as a 16-year-old, I envisioned becoming a millionaire trading the markets.
I thought this was going to be easy.
It wasn't exactly easy, but I got a great head start from my family who taught me valuable skills as well as a solid work ethic and strong moral values that guide me today.
This book can be the tool you can use to teach and inspire you to use trading to give success in trading and build a life that gives financial freedom as well.
Part ICritical Foundations for Successful Trading
Welcome to the first part of the Complete Trading System. This part of the book covers the critical foundations for successful trading, including the trading mindset and understanding how markets work.
In the first chapter, you will discover the importance of having a strong foundation for your trading journey. This includes understanding the importance of having a clear trading mindset and knowing what it takes to be a successful trader.
The second chapter focuses on the trading mindset and the role it plays in determining your success as a trader. You'll learn how to develop a positive and focused mindset, and how to stay disciplined and motivated in the face of challenges.
The third chapter delves into how markets work, including the key concepts and factors that drive market movements. You'll learn about supply and demand, market trends, and other important market dynamics that will help you make informed trading decisions.
By mastering these key concepts, you'll be well on your way to building a complete trading system that will help you achieve your trading goals and maximize your profits.
Chapter 1The Foundations for Successful Trading
This chapter focuses on the big-picture items and explaining the foundational skills you need to learn as a trader.
Just as with building a house, you must have the proper foundation to be successful as a trader. Without that, your entire endeavor will come crashing down. I know this personally because a house I bought didn't have a good foundation, and the walls caved in and I had to rebuild. I have also had to rebuild my trading skills because some of my habits and ideas were not built on solid methods. I want to make sure you have a solid foundation.
This chapter provides you with the fundamentals you need for success:
The first thing to know about trading is to keep it simple, so that you will be able to follow and execute the strategy.
The second thing you need to know about trading is that “simple” doesn't mean it is easy. If it was easy, everyone would be a successful trader.
Trading a Simple System
As I mentioned above, trading is simple; however, you must learn a set of skills that are built one upon another in order to master the craft of trading. In other words, trading is composed of multiple skills that must be put together in order for you to be successful.
I like to compare trading skills to the human body. The human body has a lot of different moving parts. We have a brain. We have a skeletal system. We have a muscular system. We have a nervous system. All of these things work together to create a healthy functioning human body.
If one of those systems is out of place, it messes up everything else in the body. For example, if your skeletal system is weak, you'll break bones, and it's going to ruin your quality of life. All the systems of the body need to be working properly. And trading is the same way. There are many foundational things that you need to learn and apply to be successful.
Many traders think if they just learn a strategy, that's all they need to know. But there are many different skills that you need to learn in addition to strategy.
This book is written to teach one key skill at a time. Then, I put the entire system together to come up with a way to be successful in trading. Because just as the human body works as a complete system, when trading, if we don't have all systems functioning properly, the entire trading will not be as profitable as it could be.
We must focus on one skill at a time as we learn to become a winning trader. Focus is one skill that a trader must develop to truly excel at trading.
Here are each of the foundations that you will learn and apply by the end of this book.
Trading mindset.
How to complete a market analysis.
Identifying trends a trading them for maximum market movement.
Market flow and levels. Learn how to be better than bank traders by understanding these.
Candlestick patterns and chart patterns: increase your accuracy with these patterns.
How to form a daily trade plan.
High-performance entry methods.
Using a daily process to create high performance and consistency.
Risk management execution and strategy.
Road map for long-term growth.
Profit maximizers to compound your trading profits with investing.
Once you put all this together and learn this system, you will have a way to create extra revenue for the rest of your life.
The Power of Consistency
One of the major themes of this book, which does not get discussed often, is the power of consistency.
Before you can make $1 million you need to know how to make $1 and then keep $1. Then you need to know how to do it again, and again. Each day. Every day.
Many people think they are wasting their time learning to make $1, but the truth is that if you can learn to make $1 consistently, then you can learn to make $10 consistently. And from there you can learn to make thousands of dollars in the market.
But it is a process, and it starts small. John Meli—one of my students, friends, and now coach who works for my trading education company, Trading Strategy Guides—often says that the “market is designed to take money from you.”
He is right, but those of us who learn to keep it consistently can become consistently successful traders.
Do not look at your (potential) millions before you learn to make $1. Once you learn to make small amounts of money, you can learn to make large amounts of money. I like to focus on the big picture just like everyone else, but it is important to realize we need to start small and work our way up to massive trading success.
The best way to be a successful trader is to start small. Learn how to consistently take profits out of the market, and if you can do that, then you can scale up later on if you want to.
Shortcuts will not work for trading success. If you want to solve your financial problems with trading, that is a noble thing to do; however, you must know that there are no shortcuts. You must learn the key foundational aspects of trading that I lay out for you step by step in this book.
Next, I talk about major obstacles to trading success.
Biggest Obstacles to Success
There are many things that will snag you along the way. These obstacles are not always obvious, so I'm laying it out here in the first chapter. These are the main major obstacles that I have experienced:
Believing that all I need is a strategy and disregarding the rest of the foundations.
Not following a system—because of lack of discipline and trying to make money too fast.
Not taking responsibility for success—blaming the markets or others for my mistakes.
Risk management issues—not being careful with risk, trying to get rich quick by risking big.
Quitting before breakthrough. There are so many times I stopped too soon. If I had just kept at it a bit longer, I would have been successful.
Having a too-complicated system. It is very difficult to follow a complicated system, so we are going to keep things simple.
System hopping—jumping from system to system because I think that is the answer when my own lack of integrity is what has caused me to fail.
Richard Dennis, the founder of the Turtle Traders, once said that you can publish the rules of the strategy, and because people have no discipline, they will not follow them. I have concrete proof that this is a true statement. An example of this is that my website TradingStrategyGuides.com has hundreds of free trading strategies. I have people going to that site every day to learn how to trade the markets. Yet few learn and are successful as a result of their searching—even though there are hundreds of strategies posted for free.
The reason most people struggle to learn successful trading is because trading isn't as easy as they hope it will be. When things are difficult, you must dive down, dig deep, and figure out how to solve the problem in front of you.
People tend to jump from strategy to strategy, looking for the next big thing. One reason my website (TradingStrategyGuides.com) is so popular is that I offer many strategies for free. Many of the traders who get these free strategies will later update to paid strategies. They do this not because the paid strategies are better. The main reason is that some traders lack the discipline to follow a strategy consistently.
There is a serious condition called the shiny object syndrome. People with this syndrome will try 100 different strategies, but they won't master any of them. This is something I suffered with until I learned the hard way. By failing so many times, the pain became too great, and I finally just changed—I learned that there is no reason to switch to a new system if you're not properly trading the one you have.
Rather than work to solve the real problem, people with this syndrome will jump from new thing to new thing, getting only a surface level of understanding. My pastor, Doug Allen, often says “that many times people have knowledge about many things, but that understanding is only an inch deep. To have true understanding, we must dive in deep on a few things.”
To become a master, we must work on a set of things over and over again until we master it. If you as a trader continue to switch strategies because you haven't found one that works, I am warning you right now it is not the strategy that doesn't work.
The problem is that you are not trading the strategy properly.
