Subscribe: iTunes / Spotify This is a great topic to me. Of course, what I think is a great topic does not necessarily line up with what new or struggling traders think is a great topic. The way odds work in trading is generally not even close to how most people picture the concept. And it is very important to understand this topic or you will struggle to make money even with good chart knowledge. Many traders learn to read a chart at an adequate level but they never put the money in the bank. Sometimes traders are close to making money but…
Author: Paul Lange
Subscribe: iTunes / Spotify When I say “My Story”, I am referring to how I got involved in trading/investing. I feel that my story may help the average person because it brings out a lot of issues that I discuss frequently. I was never on Wall Street or involved with any financial institution. I started off learning on my own. And it leads to several discussions that involve questions I frequently hear from many new and experienced traders about learning how to trade and invest properly. Set up a free coaching session with Paul:https://calendly.com/dts-paul/coaching-session-w-paul The DTS Free Stuff Page:https://disciplinedtradingstrategies.com/free-stuff/ To learn more,…
Subscribe: iTunes / Spotify Warning! Part of this may be kind of boring to some of you. However, I will get into some discussions that will enlighten even the most sophisticated trader. I’m going to start off with a basic discussion about the popular time frames that traders can trade. Anything from a monthly chart to a “tick” chart. I will discuss the appropriate charts that go with each of these time frames, but I also want to get into some of the pitfalls traders run into. Especially the misconceptions about “swing trading” and about “scalping”. Also, the most important part about…
Subscribe: iTunes / Spotify Proper mindset may seem like a fuzzy topic, but it will get clear once I get into the topic. It encompasses a lot of issues that I truly believe become the most important part of trading. The truth of it is that learning technical analysis is not a terribly complex procedure. As a matter of fact, I certainly don’t mean to offend anyone who is struggling, but the intelligence required to trade properly is no greater than that of any fifth-grader. But following rules and having discipline is often a problem and that usually stems from the proper…
Subscribe: iTunes / Spotify One of the bigger issues I always face in training somebody new to the market (or someone struggling) is getting them to understand that trading involves structure. It’s fairly easy for me to spot this issue in a trader (very easy), all I need to do is see three or four of their trades. It doesn’t even matter if they are winning or losing trades. Good traders may have several strategies they know, but typically 90 to 95% of their trades come from two or three concepts. I’ll pick up this discussion from here during the podcast as…
Subscribe: iTunes / Spotify If you are very new, you may not even understand what the question is regarding “what to trade”. And if you have some experience, you may think this is a boring topic. I’m going to discuss the pros and cons of trading stocks, futures, Forex, Options, Crypto, or commodities. They all in the trade long-term, and they all can be good for day trading. If you’ve been around a while this may sound boring because on the surface you probably know some of the pros and cons. But I want to take some time during this podcast and…
Subscribe: iTunes / Spotify I know the “Three-Legged Stool” concept has a lot of uses as a metaphor. For a long time however, I’ve used it to describe what people need in order to be successful in trading/investing. I have spent some of my prior podcasts discussing what you do not need, what you should never be looking at. I always make that a focus because so many people fail by looking at all the wrong things. You can glance at the slide notes to see a quick title of each of the three legs. I know it to be true that…
Subscribe: iTunes / Spotify Without a question, the biggest disadvantage we have as traders is being human. Along with all the good things come some really bad things for traders. We come with emotions that do nothing but confuse us. We have hidden demons that we do not even know are operating. In addition, whether you realize it or not, as you develop as a human, you develop ‘biases’. A predetermined view of how something will act. Webster defines bias as “a personal and sometimes unreasoned judgment”. Here are the charts to follow along: Chart 1: Chart 2: Chart 3: Set up…
Subscribe: iTunes / Spotify Trading or investing in the market is a unique profession. The ability to make a former week’s salary in minutes can have even very educated and disciplined people doing crazy things. Just like a construction site often attracts kids, the market attracts successful people. However, the success these people have had does not translate to the market directly, sometimes not at all. Unfortunately, there is no fence we can put around the market as we do around construction sites. People have to rely on their own common sense and the market often strips people of their common sense.…
Subscribe: iTunes / Spotify This may sound like a simple question but it is actually quite a complex question and it is also a very important one. Is trading subjective or objective, should a good trader be more subjective or objective? What does it mean to be subjective or objective when it comes to trading? When traders first come to the market, they are inherently very subjective. They don’t know what else to be, although they may not characterize themselves as subjective. If they look at a chart, and they may say that the stock certainly can’t go any lower. That is…
Subscribe: iTunes / Spotify I will make this clear again when you begin listening to this podcast but in case you’re wondering what direction this is going to take or what exactly cookie-cutter patterns are (if you been trading a while you probably know, if not you may not) this podcast will be a scathing ridicule of anyone who thinks are going to make money from cookie-cutter patterns. The term cookie-cutter patterns is one that I use a lot. Don’t think I invented it, but it’s a term used for those cliché chart patterns that people refer to, and the inexperienced trader…
Subscribe: iTunes / Spotify I am going to bet that this podcast gets fewer downloads than the others. Discipline? Really? What a boring topic. Discipline. It is an important word in most everything we do in life. But in trading it has a very special place. When a new trader discovers that you can make a former week’s salary in a couple of hours it brings about emotions of greed and fear that have intelligent people often doing stupid things. If you’ve only half listened to half of my prior podcasts, I think you understand that technical analysis is the only way…