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Wishing Upon a Star

When you wish upon a star, what do you wish for? If you're like most people, financial freedom is one of the first things on your list. If you had a million dollars, think of what you could do. You wouldn't have to ever work again. You could just sit on the beach and relax. But if you're like most traders, you couldn't stay away from trading even if you had infinite wealth.

What else could you wish for? A crystal ball, perhaps, or tomorrow's news. You would want to know what was going to happen tomorrow. You could anticipate market moves with unfailing accuracy. Think how easy trading would be! Wouldn't it be nice to be able to predict the future?

It's fun to wish that we could trade more profitably, but wishing can often be a sign of desperation. When we are in wishing mode, we wait passively instead of taking decisive action. We hope for miracles, and wonder if we'll ever see huge profits. But if we take proactive steps, we won't have to wonder. If we set our mind to it, and work hard enough, we will be successful. Through hard work and determination, we can make our wish of becoming a winning trader come true.

Would it be nice to have a crystal ball? Yes. We could trade without fear. But who needs a crystal ball? Winning traders have sharpened their skills to the point that they don't need a crystal ball. They have methods that work across a variety of market conditions. They may not win on any single trade, but their methods give them an edge. If they make enough trades, the law of averages works in their favor, and they end up profitable. They trust their method, trade with discipline, and after a series of trades, they are profitable.

Can you predict what the markets will do? Not always, but experienced traders rely on their wealth of trading knowledge. More times than not, they can accurately anticipate what the markets will do.

Do trading patterns work like clockwork? No. Do they work a lot of the time under particular conditions? Yes.

What experienced traders know, and so should you, is how specific markets move according to world events, media reports, times of day, or whatever unique factors impact the price. Nothing is certain, but the more knowledge you have about a market, the better you'll be able to anticipate how prices will move. And if you can stay ahead of the other traders, you can profit.

You don't need to hope for a miracle. All you have to do is study the markets and develop an intuitive feel for how they move. Once you develop these skills, you could anticipate the markets almost as well as by having a crystal ball. 


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Master Trader Joe Ross wants you to learn trading and he created products to do just that, teach you how to trade. Go to our website to find which ones best fit your trading style. Let's learn the art of trading Joe Ross' way!

 

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Tuesday, 25 June 2024

Derivative transactions, including futures, are complex and carry a high degree of risk. They are intended for sophisticated investors and are not suitable for everyone. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results, and all of which can adversely affect actual trading results. For more information, see the Risk Disclosure Statement for Futures and Options.