Trading Psychology: Is Long-term Success Possible?
In your growth as a day trader, have you used momentum, stochastics, moving averages, or Bollinger Bands? May have tried to come up with their own strategies, tested them for a period of time, went back to the drawing board or moved forward with actual trading. What tends to happen is that systems that do perform well for a period often do not continue performing well weeks or months later. It is as if the market turns on a dime and no longer exhibits the movements necessary to bring profits to those once successful systems. Why is this? Is the market conspiring against you?
One thought is that price activity is ultimately controlled or exhibits certain tendencies over a period of time. Then “those in charge,” the secret pushers and pullers of currency and electronic data, eventually change the game and pull out the rug from the rest of us. Is that truly so? Or are there cycles?
Indeed, one may ponder the deep questions about what actually works behind the scenes of global currency systems. But, in doing so, one has to take care of themselves and likely some sort of family. For reasons of practicality, then, it makes sense to find trading systems that appear to work over long periods despite any changeups. Does DayTradeToWin offer such trading systems? You may review their hundreds of videos from many years and judge.
For most, the goal is to consistently make money day trading on a regular basis. However, no system can really guarantee such a thing unless they want to attract the attention of regulators. And besides, who is to say a system that has worked well for a decade will work tomorrow? Who can actually guarantee that? Like anything in life, a certain level of probability is involved. We work with probabilities all the time when we make decisions. We think about what we want, what our overall goals are, what we want to become, how to get there, what missteps we’ve made, and so on.
At least day trading videos like the one above offer a glimpse of what it’s like to trade the method in real-time. This includes how the signal is “painted” or “plotted” in terms of timing and placing an order. We see two systems in use: the DayTradeToWin Roadmap and Trade Scalper. The Roadmap can provide an overall indication of potential reversal areas. This means that small trends can be potentially identified as well. The Roadmap provides signals as well. Coupled with the Trade Scalper, many short-term opportunities are identified.
John Paul from DayTradeToWin.com makes the case these methods work well together. He indicates the best way to go about learning to day trade is the 8-Week Mentorship Program.