There are many ways to win a medal and you don't necessarily have to know and be good at every sport or category. You just need to be a master of one.
It is unfortunate that many people get into this industry without the right key objectives. The most common one is
"To Make Money"
Not saying that it is wrong. That's the bottom line. It's the main reason why we are here. Pera!
But the question is, "HOW?!"
I want you to think of yourself as an Olympian from now on. An athlete gunning for Gold! Maraming sports na mapagpipilan diba? So choose ONE that you like and know the rules of that specific sport! You don't train to be a basketball player and then join the swimming contest right?
Consider your limitations as well. If you don't have any limbs, why the hell would you wanna join any martial art? If you still want to do it because you don't want to be confined into any form of "limiting beliefs" suit yourself and be a limbitless fighter! I'll be happy to create your poster.
Do note that I dislike people who are not coachable at may "mas magaling pa ako sa mentor" mindset.
In trading, I like to categories the schools of thought or styles into three:
Fundamentalists (FA) - those who heavily rely on company disclosures, micro and macroeconomics for their trading decisions.
Technicians (TA) - those who heavily rely on price action and patterns.
Funnymentalists - those who are heavily reliant on TA [Tsismis Analysis] and FA [Facebook Analysis].
And in each category, there are sub-categories.
If I would liken this to the Olympics... It's like this:
Sports that deal with big balls (Basketball, Volleyball)
Sports that deal with small balls (Table tennis, Tennis, Golf)
Sports that prohibit the hitting of balls. (Martial Arts)
The ZFT system falls under the TA (Technicians) Category. The sub-categories available within our system are as follows:
Position Trading - where you accumulate at lower levels when everything is quiet and sell when prices mature.
Trend Following (TF) - where you trade/invest and ride established trends and hold depending on your selected timeframe (long term, short term, medium term)
Momentum Trading / Scalping - where you buy and sell during breakouts and short bursts of euphoric-price-action, usually closing the position within minutes to several days.
Swing Trading - the middle ground between Trend following and Momentum Trading. Countertrend trading (Reversals and Bounce plays) falls under this sub-category.
Each style differs from the other and each one has a different set of parameters and rules for it to be effective. Which also means, each style has its own strengths and weaknesses. Some are effective during bull markets when the general movement and sentiment is up, and some are effective during bear markets when the general sentiment is down.
And I'd like to reiterate that you need to find out which style suits you best depending on your limitations - like work or business schedule, lifestyle, risk appetite, capital, etc.
Turn your limits into your strengths but never be the limbitless trader. No one style is greater than the other.
Do know that there are many other sub-categories under TA like Elliot Wave trading, Ichimoku Kinko Hyo, and other fancy-sounding systems. And all of these WORK! Pag may nakipag away sa inyo at sinabing "mas maganda ang system namin!" I will automatically disown you for showing immaturity. 💪
Do not compare yourself to other traders. Focus on your self and own execution because that's what matters - hindi ka naman kikita sa exeuction ng iba. Unless investor ka nila, now that's a different story. 😆
Sabi nga ni pareng Bruce,
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First posted this in the new FB group I created recently for those who'd like to learn how to trade - (For Level 1 Traders).
If you like to see the comments and discussions click here. (make sure you follow instructions, else we'll kick you out) The group isn't advisable for those who are already at level 2 or 3 - you might not get any value here.
For peer to peer discussion (please do this on the comments section of this post) :
1. What have you learned and realized about this post?
2. How are you feeling about your position now? Do you feel happy? Are you sad? Why?
3. What will be your action items in relation to what you've learned?
1. What have you learned and realized about this post?
ReplyDelete- i have learned that every trader must have a niche in the market, it's like choosing our battles wisely.
2. How are you feeling about your position now? Do you feel happy? Are you sad? Why?
- I am happy today (3/1/2020) because as of now, i have protected may gains from january and february despite the drop of the PSEi
3. What will be your action items in relation to what you've learned?
- i will only risk a larger than normal position on the set-ups i have practiced for several times in both virtual and live trades
1. What have you learned and realized about this post?
ReplyDelete- I realized that I need to have discipline in studying how to trade. Just like sports it require discipline to train and practice like what it require in trading.
2. How are you feeling about your position now? Do you feel happy? Are you sad? Why?
-Stung by the pandemic. We don't have work and income. That's makes me sad.
3. What will be your action items in relation to what you've learned?
=spend the whole quarantine season studying how to trade.
1. What have I learned and realized about this post?
ReplyDelete- I have learned that there are different types of play style and any of them would suit your life style.
2. How are you feeling about your position now? Do you feel happy? Are you sad? Why?
- Im 20 years old and Im not trading, yet. I dont know the very basic of trading but Im eager to learn.
3. What will be your action items in relation to what you've learned?
- I will study all play style and then find out what best works for me. Kakapalan ko na mukha ko sir. San po best mag start mag study pag newbie ka palang at ano po yung dapat mong malaman about TF. hehe. thanks po
1. What have you learned and realized about this post? I learned that every difficulties in life there is corresponding ways to gain it. It means focus on what you like.
ReplyDelete2. How are you feeling about your position now? Do you feel happy? Are you sad? Why? Both, beacause I find the solution to my problems but how? I need to understant it deeply.
3. What will be your action items in relation to what you've learned? To gain it, means to focus on it.I wanted to be an expert trader.
1. What have you learned and realized about this post?
ReplyDelete- I learned and realized that discipline is the key in every path you want to pursue.
2. How are you feeling about your position now? Do you feel happy? Are you sad? Why?
-i am not happy but i am motivated. My gain from August 2020 to december 2020 became a screenshot after i just missed a 10min trade on penny stocks in January 2021. I already acheived my 50% target on year 2021 as second week of january only. When i traded a penny stock, i always follow my cutloss (i thought so). Until my stock gained around 30% of my capital. Due to being busy at work, i just had some work to do that ranged around 10 min. And viola, when i opened my portfolio, from 30% gain to instant 20% loss together with my other stocks that hit the flooring prices. It made me so disappointed for knwowing that the market is so volatile but still i let my guard down.
3. What will be your action items in relation to what you've learned?
- need to study more. Always trade what you planned. And look for resources that can help me regain what i lost. I cant afford a mentor due to financial problem