It’s that time of the year again, in order to be effective day traders we have to continuously improve, adapt, and stay ahead of the curve. The market is always going to changing over time and if we don’t change with it then we fall behind the curve.
It’s been almost a year now since traders from a previous company that I was a part of convinced me to start teaching again. I am very thankful and appreciative that they did because I have been able to help so many people become profitable.
You have no idea what it feels like to get that email, I went live and made money
I have been able to teach and make tons of people profitable after allowing them to focus on market movement and understand how the market works rather than focusing on indicators. After working closely with new traders, season traders, and even new profitable traders, I have pinpointed a few areas and training modules that we can focus on to make the learning easier and more effective.
New Cleaner Indicators
Many of you know how I dislike indicators and how they are treated in the industry by most day trading companies. If you’re new trader or someone that doesn’t know that much about indicators you should know that most indicators being touted as “proprietary or unique” are very far from it.
There is nothing proprietary and most indicators are not unique, most new indicators were actually invented upwards of 15 to 20 years ago. What day trading companies do is automate a manual process, change colors, and advertise indicators as being proprietary were unique.
The few set of indicators that we so use are going to reworked be cleaner, which means that we are going to break out the code and get rid of all the garbage and make sure that we have a great set of faster responding indicators. The way I can explain this is like a car or a website, you don’t clean a car engine then is isn’t going to perform at an optimum level. The idea is to keep the engine clean and make sure that it is spotless to work at a top level.
We also are going to be adjusting the indicators to modules to ensure that instead of focusing on the indicators people can switch back and forth with a click of a button to remove and add settings. This process now takes too long.
Out With The Old
We all have this habit of accumulating things and then just sticking with it, have you seen what your closet or garage looks like a lately? One of the things that I have learned about day trading and traveling around the world is that you really don’t “need much”.
Most of us want much but in reality we don’t need much
I know and living out of two bags and my office is my laptop, the only things I need are reliable internet, food, and a bed, and I can live a life with experiences most people would only dream of.
There are certain concepts that we have used and that I have been accustomed to using for most of my 10 year career (will be going on 11 next year, crazy how time flies). Most of these concepts are rules-based in order to help traders identify a weak or strong momentum market.
What I have found is that these rules are actually handicaps forcing traders to focus on indicators and rules rather than reading the market. There were detailed ideas and concepts that I had traders learning that I don’t even use anymore or mention in any of our live market classes. A few traders pointed out to me that I don’t even talk about those things anymore and that’s when I realized that we don’t need them.
One example that I can give you is a study that was done with elderly people in the United States. People who were using canes and wheelchairs were put on a healthy diet and a great exercise regimen.
After a few weeks most were able to walk again on their own
It is the same thing with day trading, to keep believing that these fancy multi color indicators and rules are what you need is the same thing as using the canes & wheelchairs instead walking. Those who want to get ahead, eat right and exercise to be able to walk on the their own, should be paying attention to how the market works instead of using rules and indicators.
My Amazing Student and Live Traders
I honestly didn’t expect to have so much success with the training program and its another reason why I keep the classes and the program very small. I’m very adamant on only using traders that are trading their accounts live and are profitable to help me teach to keep develop the Congressive approach to trading rather than using programmers, admins, and employees from India and the Philippines that don’t know how to day trade.
I plan on having more classes run by my own traders and students in order to help those that are still learning. I will be honest and say that I’m quite overwhelmed with the demand for the program and refuse to allow anything but the highest quality to pass through the Day Trading Academy.
Now that we have more amazing live traders that want to give back and help others I will be hosting more “hot seats” where those specific people will be running live classes. It solves a myriad of issues when it comes to the challenges of learning how to day trade.
Figuring out What You Feel Comfortable with As a Trader
The idea here is that you have to be able to understand what you feel comfortable with as trader, if you don’t trade the way you feel comfortable and try to trade like somebody else you’re not going to be successful.
By seeing a handful of different styles it’s going to allow people to see what’s possible and it will be easier for people to identify what they feel comfortable with. They will be able to connect with different people and build their own style from there. It’s one of the reasons why I have an open day trading forum for everyone in the program.
Anyone is able to chat about anything they want including adding, subtracting, or taking away things from the Congressive Strategy.
Creating Your Own Style with in a Winning Strategy
In addition to feeling comfortable, developing your own style is going to be much easier when you see a handful of different styles. A trader is going to be able to identify whether he’s aggressive, conservative, or between (Congressive like myself) when you actually see it in action.
It’s much harder to go down a path that has already been walked down instead of creating a path yourself. It’s one of the reasons why most people learn from a day trading company instead of trying to do it themselves. Trying to learn how to day trade on your own is extremely hard because you don’t know where to start, what to use, or where to end.
By seeing different people use different things and even explain things differently, it will set everyone on the correct path.
Confidence That More Than One Person Are Making Money
It is different to see people that are trading live run a class rather than just have one person do it. Imagine the difference you would feel if you actually know that others are trading live with a strategy that you’re using rather than having the same “trainer & coach” running a class.
This is one of the biggest problems in the day trading industry were one person is picked up off the street and runs a live trading room when they don’t even know anything about day trading. I’m trying to counteract that by using a group of people that are already trading live so the focus is day trading and not teaching.
Everyone will have enough time to day trade their own account and teach on the side.
Teaching Makes Us Better Day Traders
This is really when someone comes full circle, when someone becomes aware that they are teaching someone something that they didn’t even know they knew. Just imagine the confidence that gives you as a day trader when you can actually assist someone else in what you are doing.
When teaching a class you become more aware of what the market is doing because you have more responsibility to point it out to others. This in turn, spills over into someone’s actual day trading and when you are noticing more things and able to identify things that you wouldn’t have noticed before, it makes you a more effective trader.
I wonder why there are no comments yet and I’m the first one to comment on this trully refreshing and interesting approach to trading, learning and teaching?
I admire your energy and your approach to life and trading. I’m fascinated with people who claim they make money trading, even though, I still need to meet somebody in person who could prove to me they can support themselves by trading any market. This is because every system and course I bought so far was a failure. It just didn’t work for me. I have a job and finding a strategy that can suit me has been impossible.
I love trading and going to stick with it for the rest of my life because I still think it’s possible to trade profitably.
Wish you the Best in your endeavours,
Andrew… I have been fortunate and have been able to surrounded myself around a bright group of people that are actively making money in the markets. Thanks for the comment my man
I totally agree with you Andrew, Marcello’s type is very uncommon and unique in his approach to trading and lifestyle. I sincerely cannot wait to meet with you in London and learn from your passion to teach trading.
A fabulous job you are doing for humanity please, keep it up.
Looking forward to seeing you soon.