Examine your trading beliefs

You can only trade what you believe in.

Your beliefs drive your behavior. This is true not only of trading but also in real life. If you know a person's beliefs, you know how he will behave.

If you "believe " the markets are efficient and there is no way to make money by selecting stocks, you will go and buy ETF.

If you "believe" the only way to trade is using mechanical methods ( that is a belief) and discretionary trading is too vague (that is a belief), as a result, all your behavior will flow from it.

If you "believe," you should only trade triple ETF and not waste time on individual stocks (that is a belief), and as a result, all your behavior will flow from it.

If you "believe" that the only way to trade is with big risk and fully invested on margin, as a result, all your behavior will flow from it.

If you "believe" market will crash (it is a belief) you will spend time constantly shorting.

If you believe trading options is the path to big success (that is a belief), you will spend time trading options.

If you believe momentum stocks offer the best opportunities, you will trade them.

If you believe growth stocks offer biggest opportunities to profit from the growth you will build methods around your belief..

You will become a value investor if you believe growth investors are fools buying expensive companies.

If you believe stocks move in a momentum burst of 3 to 5 days, you will find ways to exploit that phenomenon.

If you "believe" barring liquid stocks, all other stocks are junk, you will only trade liquid stocks.

If you "believe" anticipation setup allows you to make money with the least amount of drawdowns, you will spend time trading them.

If you believe working people can not trade, then you will find a hundred reasons to justify your belief.

If you believe working people like you can still profitably trade, then you will find creative ways to find time for trading.

Every trade has deeply held beliefs like these.

The bundle of deeply held beliefs drives what kind of setup they will trade, what kind of timeframe they will trade, and also all elements of trade like entry, exit, risk, and number of positions held.

The beliefs determine where you will spend your efforts.

Best site to learn to trade

If you are serious about your trading and want to build an enduring edge, the Stockbee Member site might help you.

Members tell me they have tried a lot of things before coming to my site, and it has offered them the most extensive and detailed methods to swing and position trade. Members range from very experienced traders to novices.

No advertising, no hard marketing, no promotions, no free offers, no affiliate marketing, no incentive to other bloggers to promote the site, no constant tweets self-promoting the site, and no tall claims. Every member comes through word-of-mouth recommendations from existing members.

As a member, you will learn the basics of swing trading, momentum investing, growth investing, and risk management. You will learn about Stockbee Momentum Burst breakouts, Stockbee Trend Intensity Breakouts, Stockbee Episodic Pivots Breakouts, Stockbee Lemonade Strategy for 401k, and many other member-shared methods.

You will learn how to set up your own scans, how to select the right kind of stocks, how to set up stops, when to enter, when to exit, how much to risk, how to track your trades, and all other details about trading.

You will learn about developing your own methods and not relying on others for trade ideas. Develop your own edge. Once you develop your own method, you will have a lifelong profitable method.

The site gives you an opportunity to interact with some of the most successful traders and learn from them about their trading methods. It is a vibrant community with members from different backgrounds and experiences willing to help each other. Members have shared their methods, scans, software, backtests, and market insights.

Every day, the emphasis is on continuous learning and upgrading of market knowledge and setup knowledge. The members range from hedge fund employees, financial advisers, active swing traders, investors, and new traders.

You will see that many trading bloggers have been using my market timing methods, scans, and chart templates. They have developed their own methods based on my methods.

Almost every member comes through a recommendation of some of the leading trading bloggers and trading sites. 80% or more members continue to be members for more than 3 years. Most tell me that they stay on because every day they learn so much from the members' site.

If you are looking to develop your own trading strategy, the membership site might be for you. You have to be willing to put in the effort to build your own method. There are no silver bullets offered on the members' site. Every method, every scan, every nuance is detailed, and all possible help is offered to design your own method.

2 comments:

amarjit said...: Excellent thought. Our belief is what makes us act the way we do. But what makes us believe what we do? May be it is time to also peek into what goes into forming our belief and when in doubt revisit them.; Jan 12, 2024, 9:05:00 PM
Prasad said...: I just started watching all videos and started going thru the blog. I really want to get into right way of trading and willing to learn. I want to know how and where to start. Appreciate any inputs. Thank you.; Mar 30, 2024, 12:38:00 AM

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