Are you overwhelmed with all of the information out there on trading? Are you wondering which strategy to use or which indicator actually works? There’s a better way than spinning your wheels on watching every youtube video that pops up. If this is you, you’re likely trying to learn way too much all at once and inconsistent, instead of mastering one system and consistently increasing your profits.
#1 Tip to Trading Success
The key to trading success is simple: stay focused on one system until you MASTER it. Sounds simple enough, but generally, it takes years to master something unless you have ways to accelerate your growth. Here are some ways to get to that Mastery level:
Find A Mentor
Mentors accelerate everything, saving us time, money, and stress. In any Industry, you should always look to be led by a mentor who has already been successful in the field.
Understand What Type Of Trader You Want To Be
Types of traders: Scalper, day trader, swing trader, position trader.
This is your decision based on your personality and schedule depending on when you’ll have time to trade. Questions to ask yourself could be things such as, do you work full time? Are you patient? Do you like to be exposed to the market? Do you like analyzing charts on the computer throughout the day?
Scalping and day trading is more for the impatient trader. This type of trading is more fast-paced with quicker results but takes more risks being exposed to the market more often.
Swing trading and position trading are for the more patient and high tolerance traders. This type of trading is more slow-paced with slower results testing your patience but can be more rewarding in the long term.
Choose Your Technical Analysis
To name a few: Elliott Wave, Harmonic Patterns, Price Action, Wyckoff, Gann Analysis, Fibonacci, Indicators, etc.
Mastering One System
This is where the mentor comes in handy the most as they have already perfected their strategies and proven that they work, so you can just come in and focus on mastering their system.
However, if it’s a good fit and makes sense this is an opportunity to develop and backtest on your own.
NewWave Traders has been teaching their proven system since 2017 that’s generated thousands of testimonials. The NWT system provides proven strategies consisting of multiple strategies to take advantage of, but the one component NWT focuses on is mastering one system at a time. Every strategy is a plug-and-play system with its own strict conditions to create consistency over time. If you aren’t seeing the results you desire, it’s likely because you’re on the wrong path, and that path probably includes lots of hours on youtube. If this is you, there’s a whole lot of information being absorbed without mastering anything. Invest in yourself and focus on mastering one system with us at NewWave Traders.
To begin your journey, check out our NewWave Academy and join our free Discord channel!