The Wrap Up: TIPS FOR STOCK TRADERS
Market Mondays
EYL Network
5.0 • 4.1K Ratings
🗓️ 27 January 2022
⏱️ 11 minutes
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Summary
In this wrap up Ian discussed tips for stock traders. #stocks #trading #investing
Link to full episode: https://youtu.be/5vWtVjC8sY4
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Transcript
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| 0:00.0 | Staying on the trading topic, what are some four trading tips from the dream team? |
| 0:06.4 | Yeah, I wanted to chime in and get a different perspective. So it wasn't just us. So I asked them, |
| 0:10.0 | what if they think, um, shout out to the dream team. Um, number one, uh, Pierre said, don't borrow money or |
| 0:15.7 | quit your job to trade. I know everyone has this fantasy. And I'll tell you entrepreneurship is not easy for my, |
| 0:22.0 | if any business owner, any entrepreneur, this been four time. Can you please write in chat if business |
| 0:27.6 | and doing business four times easier or not? Because the sacrifice that you're going to have to make |
| 0:31.7 | and especially for black men, the lack of balance that's there sometimes is really tough. |
| 0:38.4 | So don't borrow money to trade under any circumstances and don't quit your job to trade. If you have a |
| 0:44.3 | job that is providing you consistent income insurance stability, when you have the job is going to |
| 0:50.7 | allow you to trade better. Your trades are a hell of a lot tougher when all of your income has to |
| 0:55.6 | come from that. And here's what happens. You'll quit. You have an incredibly liquid market. And then |
| 1:00.0 | you quit your job liquidity draws up and you're like, what the hell happened? The market was just |
| 1:04.3 | smooth two months ago. And now you had a pressure on top of you. Number two, master two indicators. |
| 1:09.6 | And that's it. I don't care what anyone else says. The two that I look at. I don't look at anything |
| 1:15.7 | else outside of that. Can I trade ranges and breakout? Yes. Do all of it. But once you master two |
| 1:23.2 | moves, you're good. And those two indicators have to work in every market condition. Up market, |
| 1:29.1 | down market, flat, high inflation, low inflation, squeeze the liquidity, liking how to format |
| 1:35.8 | for its market draw up and then went to crypto. It has to work in every market. Number three, |
| 1:40.6 | only trade your setup and nothing else. Be honest with me, put this in chat. How many of you |
| 1:45.5 | learn they set up? I don't care what setup it is. And then you deviate. If you learned on the one |
| 1:50.5 | hour, you then traded at the 30 minute or two hour or four hour of the day or right. Trade one |
| 1:57.1 | setup, master the hell out of it. Don't deviate. Number four, you need one target. And if it's one |
... |
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