‘Green Shoots’ for some?
ByHi, my name is Stu Whisson and I run one of Europes longest standing online trader training websites – www.insightsupport.com, but I am not hear today to talk you you about Insight. What I want to talk to you about, is how you can finally break your trading, whether new or experienced, into the professional level only seen by those lofty few, who do indeed make a fortune. In fact these fortunes tend to be made for large investment banks, but their employees still get paid millions.
The truth of the matter, is that there are ‘green shoots’, in fact more than ‘green shoots’, but massive great Rain Forrest springing up for the few, usually traders, who know how to analyse the market successfully. At the end of the day, analysis, money management and learning the art of Technical Analysis IS the only way you will be able to become one of the few traders, who are making money, hand over fist, regardless of whatever you’re trading, come rain or shine.
Over the next few weeks, I will be sharing with you some great information, all for free, along with some videos and some free gifts. Please therefore, make sure that you register below. I will be updating this page frequently, and will be answering questions, helping out and providing you guys all I can.
So that you don’t miss out, please make sure that you enter your name and email below, so I can email you when I have updated this page. I promise not to ever sell or use your email other than to keep you informed.
Speak to you soon, new video coming in the next few days.
Take care
Stu
PS – When you’ve entered your details below. Return to this page as I’d like to know the following ‘What problem are you facing now with your trading?’. To tell me, after you’ve entered your details below, click the title of this page ‘Green Shoots’ for some’ and you can then describe your issue at the bottom of that page.
Enter your Name & Email to stay updated.
I have trouble determining my exit, as well I am successful in my trades on Mondays and Tuesdays I have trouble at the bottom of the week, I have not been able to capture a move in the FX market for more then a few days.
Hi Humphrey, Exiting trades is a common issue. From experience, I tend not to place FX trades for long term and by that I mean any more than a few days anyway – I sometimes even look for an exit on the same day. As we all need to sleep and we can’t keep track of the markets over night – and as far as I feel, it’s too much of a risk to place a trade to carry over to the next day. Therefore, what I would do in your position, is look at why you’re making money over the first two days of the week. Take a look at the trades that have made you money and make a note of the setup that you’re using, keep a trading diary as to why you’re entering the market, not only technically, but also your gut feeling too. Then do this for a few weeks. After a while, you will begin to see a pattern emerge and you will then be able to iron out weaknesses not only how you analyse trades – and we can sometimes change how we analyse, depending on how we feel, but more so, what the entry was and why these were different to the start of the week. Do this for a few weeks and I am sure you will start to see more of a psychological pattern emerge and then we can look to address that.
Cheers
Stu
My question is about what to expect from a starting pot of just £250 and having a financial plan to compound it.
Hi Brian, thanks for the question. This is a common question with regards trading. The odd thing and sometimes also the most magical thing about trading, is that everyone is different and therefore, depending on your own psychological makeup, desires, wants, greed and the million different issues we all face – will trade the same information differently. Now having said that, you could turn around and say ‘then what’s the point in learning analysis or learning how to trade!’. The simple truth there, is that you not only need a foundation to build and work from, but you MUST and I repeat MUST understand how professional traders trade. By doing so, you will then understand the ebb and flow of the market. I know this is a long answer, but there is a reason behind it. 1 – I really want you to understand that trading, despite full of potential, is fraught more with risk, but most don’t realise that the risk is more than just their knowledge, it’s their own belief in themselves, their attitudes and expectations. 2 – The other thing that makes trading so amazing, is that you soon realise that it’s pulls on you mentally… ‘should I have entered there… what about my exit, perhaps I should change it…’. All questions we ask ourselves as traders each time we make a trade. The great thing about having taught several thousands people personally over the years, is that I’ve found what it is that makes traders tick mentally; whether new, novice or experienced.
Therefore, if you start with £250 and trade as I do, you would turn that into few grand, but you are not me. This is the point I was making above. BUT! The idea of my training and methods, is that will teach you how I trade, how a professional analyses charts, how you should enter, exit and manage your money, how you should use setups and what’s best and furthermore, what type of charts are best to use. This is all covered in part in our existing courses on http://www.insightsupport.com – but the free information on where you are now, alongside my support and of course should you decide to take the 10 week course, will give you a massive advantage. This is the only course that teaches you to such a high level, but also addresses the mental side of trading and how to get your head together – as that my friend, is really where the battle in trading is.
Hope this helps. Don’t forget to look out for videos, training and more. Don’t forget that you can also ask me more questions on here if you wish.
Stu
Hi, As a result of recession and not using money I can’t afford to lose, like the previous poster I have a very small trading pot, I started again with
£ 400 after losing several thousand last year not knowing what I was doing, things have started OK .But there the problem I face is the incredible temptation to overtrade to make money quickly. i doubled my stake in a month then lost it in 2 days, the same old story of not getting rid of a small loss but waiting till it is an account wrecking loss. I started on IG’s low start of 10p per point which is really good to get started, though i’m trying to avoid getting too high a stake too quickly and trying not to day trade, another problem I have is snatching profits too quickly and never reach what I consider the ultimate which is a trailing stop above the initial entry ( or below if selling ) thus guaranteeing a profit and letting the trade run.
Should I stay away from indies dow, dax, nikkie ftse I have made good profits from volatility, but it this playing with fire,
When will we know, when we are possibily in a sustained bull recovery and not in for another major dip ? Or is that the six million dollar question ?
Any advice would be appreciated
Philip Wadlow
Hi Philip
Thanks for the question. Trading with a small amount of money is always difficult, certainly after having sustained losses. You seemed to have identified one of your issues in your own question; over trading and trying to take profit too soon. These are of course common errors, so don’t feel bad for having doing them. Part of trading, in fact a very large part is mind set. This £400 you have to see as not important and forget about it. I know that sounds weird, but bare with me. When you trade with any amount of money, as soon as you deposit that money with a broker, you need to get the mind set of ‘ok I’ve now paid that into X account, if I lose that money it’s not important.’ Think of it as paying a bill, where you’re not expecting a return, but having paid for a service – the service in this case is your education in learning how to trade live. If that pot grows great, if not, then if your mindset is right, it shouldn’t bother you much either. Obviously the focus is on gain, but your key focus really should be on using that money to learn how to trade in a live environment, not looking to desperately turn it into profit.
That’s why I say to students when they first start out, to only trade small amounts on a deposit they are willing to lose. Then see if trading is for them. Don’t bet the farm right away, learn what you’re doing and how you specifically trade. As I’ve said, trading is about mind set and many people forget this. Don’t trade when stressed or in desperate need of making profit – trust me it won’t work.
However, if you trade with a calm mind, looking it as education and growth. You will begin to enjoy it, learn from it and you will then from being relaxed and less stressed with it and not put pressure on making profit – ironically, resulting in starting to trade well and profitably.
I do expect the market to dip. The bull run has only been bolstered by the banks and this stupid ‘Quantative Easing’ – short hand for ‘Let’s just print loads of money and keep printing it… sod the consequences.’ As for trading Indices, be aware that you have to have much wider stops when trading any index and as a result, this can have dramatic affect on small trading balances.
Hope this helps.
Stu
How do do suggest people identify what kind of trading they should be doing – day trading, swing trading, holding longer positions etc? Is it all just down to trial and error and how much time you have to trade?
Hi Tony
Thanks for the question.
For beginners, I’d always recommend spreads over a minimum of a few days or weeks. Because of the spread, they are not ideal for day trading, unless you can get an account with minute spreads and they would have to small to allow you to take smaller profits but more frequently – such is the case with Day trading. FX and eminis are more suited to day trading and you would need to have a good amount of experience trading before you did start on these as they more much quicker. Usually it’s a good idea to start trading on spreads over a longer period, using bounces and retraces rather than long term trends. Trade actual companies not indices, then when you’re more experienced, move to indices on spreads and then fx. When you’re getting a good feel for it, then look to trade the actual FX market with an Forex account.
Hope this helps.
Stu
Hi Stu,
You know me of old.
Nothing much changed my end…I’m still buying more books and courses and still attending seminars. Looking for that ”one bit of information” that will make everything click into place…
Spending hours and hours in front of my monitor viewing charts…
Challenge is I just don’t know exactly where to start.
I’ve far too much information buzzing around in my brain.
One system says “go short” another system says “go long”….information overload.
Use a multitude of indicators or KISS???
Help I’m drowning…..
Best regards,
Ranj
Hi Ranj
Trust you’re well.
Always keep it simple. I know that it’s all too easy to believe that someone else has the edge, has that magic formula for trading. The simple answer to trading, is to learn analysis, learn it well, don’t look for black box methods, or magic formulas – chances are they only work for that person. Black box trading systems are dubious and although some do work to an extent, they can be caught out very quickly when the market turns unexpectedly. Such was the case with our very own Insight-Trader.com – which we’re still working on the logic after it had a funny turn when the markets turned quickly. If you have a lot of trading books and videos sell them on ebay. Cut down on the noise. As you’re a lifetime member of Insight, you get the certificate course for free- all lifetime members do. Let’s work together in February, bring your understanding up to a level when you finally feel confident in your ability.
Take care,
Stu
I sit in front of the screen for hours, make a shilling, lose two.
Every time I trade I am convinced that I am right “this time”, but the minute I place the trade the market goes in the opposite direction.
Instead of winning 78% of the time, io lose 85% of my trades.
HELP!!!!!!!!
Hi Dominic
Thanks for the comment. When you’ve analysed the chart, do you then place a trade right away or do you do this later? Also, what are you trading; indices, stocks, FX?
Let me know.
Stu
Hi
Again!
As you know I did the course, but left the site as I did not feel I was getting anywhere, I did not feel confident, despite making 50% in a handful of trades, and in about 40-50 trades in the last 6 months I lost 10% of that, seeping away, with larger losses than profits. I felt “lucky” with the large profit, but felt I have learned more losing money than I have making it (I know, sounds mad). I have got more confident, but no sure if it is for the right reasons. Yet I want to make money, so I’d LOVE to know what to do to turn learning into a profit. I made a boob of an Apple trade, and was stopped out, only to watch the stock soar, as my voice said “can’t go higher, wow, it just did, can’t go any higher, wow, it just did……”
I’m keeping a diary, (of trades!) but for some reason the trades are not working as well as they should. I try to go with the trend, but I have an uncanny and brilliant knack for picking a trade that WILL reverse as soon as I bet on it. I feel I should just pick a trade, pick its direction, and bet on the opposite trade. Would have made more money that way!
Looking forward to hearing what words, nay pearls, of wisdom you have to offer.
Alan
the baldy biker
Hi Alan
Good to hear from you. Just a thought, when you’re keeping this diary, is it strictly just the trades you’re entering and existing from? The reason I ask, is that it’s a very good idea to keep track of how you’re feeling too. Now I don’t mean for you to put down ‘feel ok today… going to trade now.’. Remember this is for you to read, much like any diary. Therefore, you need to be honest with yourself. Right down how you’re feeling, issues you’re facing in life that day and then add details of your thoughts on your trading. Trust me, over time, a relatively short time, you will find that the days when you’re making better judgement and profit, are the days when you have a clearer head. That’s why I never trade when I am in a bad mood!
The other thing that maybe stopping you from making good profits are perhaps too narrow stop losses. Always give room for trade to breath and move. You should be able to place the stop easily outside of the nearest support or resistance, when you’re ready to take profit, tighten it right up. This will mean that you possibly face more risk, but the risk is small, relative to the amount of times you would get stopped out from having a much tighter stop.
Hope the above helps.
Stu
Stu,
It’s easy to say how I feel. I am looking at my trades today, (I trade the American market as it suits my work) and today I have Costco at -e64,yet Jabil and TECO at +e12 and +e8.
So I feel despondent, low, and if I listen to the missus I should give this up as the only people who mess with the stock market lose money.
In reality the only thing that gets me down are losses, I can cope with the work, well, now that you mention it, the kids…… No it’s ok, they’re fine.
Funny thing is, I know there is a way to make money at this game, yet I invariably feel anxious when I go to trade, I see all sorts of ways, explanations, and possibilities for the trade to go any way at all. Maybe I have learned all the wrong stuff! Rarely do all ducks line up in a row. And yet I miss some trades that would have worked out!
you see, I really don’t know how much slack (room for stop losses) to give a trade, and how to know when it is riding the storm or genuinely changing its trend.
Alan
Hi Alan
Thanks for the reply.
I think part of the issue is perhaps you’re placing too much pressure on yourself to perform. This is due to the ‘nagging wife syndrome’ (that can also be husband too), who witnesses some losses and then reminds you of them. The trouble with that, is that this constantly reminds you of the fact that you’ve lost and therefore makes your focus on loss, rather than simply placing a trade. I know this all sounds like a load of psycho babble. However, here’s what I want you to do.
1 – stop trading with real money for now.
2 – go and open a virtual account, http://www.worldspreads.com or http://www.capitalspreads.com have them, tell them I sent you for a possible extra bonus, that they sometimes have.
3 – trade exactly the same as you are now, but using the virtual account.
4 – Do this for 3 months, really for 3 months.
5 – come back to me after that time and I can assure you, that your gains will be greater.
One of the other issues that is common, is overload of information, in terms of what to do, when to do it and how. Everyone has a story, a system, a method, a XYZ… the truth of the matter is that it will ‘work’ for them, but chances are it won’t work for others.
This is why I aim to create a course that teaches analyses, first and foremost, by learning how this is done to an exceptional level, will stop the need and reliance to seek answers elsewhere. Because you will know, more than most of those touting their systems and black box techniques.
Stu
Hi Stu
Just thought I’d pop up and say hello to familiar/friendly names and faces… yourself and Ranjit to name but two
Nice to see you pushing forward with this new initiative. I’ll be watching and looking to interact at some point. Reason? In recent years, through previous training programs, you have provided me a number of useful lessons on the trading front and have remained supportive throughout. Good luck! James, Algarve, Portugal.
Hi James,
Good to hear from you. Hope you’re well. Ranj tells me you’re still trading and doing well. I will be in touch to let you know more about the ‘Masters Cert in Analysis’ when it’s ready. Jen and I are going on our hols to Portugal in Jan/Feb. Never been, so looking forward to it. Feel free to drop me a line or two.
Cheers
Stu
Hi Stu,
Even though the market has been bullish over the last couple of months I have not been able to catch the trend and have seen it after it has risen nicely where some good profits could have been made. The I place some trades and the charts rise and profits start to show but just as quickly they fall down to levels that even everything out but coupled with the trades that do not go as expected the losses are mounting up and it is putting me off trading but something keeps me wanting to get back into the trading and get some results. What should be looked at next as I want to be ready for the dip in the market that I also believe will happen?
Hi Karl
Good to hear from you.
Yes, a lot of people have missed the bullish trend we’ve seen. That trend won’t last and we could be seeing the end of it as I write this. However, it’s never easy catching a bull or a bear run such as this. The reason being, is that to really make a profit from the large proportion of the trend, certainly one as erratic as the current trend, that appears to consolidate a lot; you would need to place a wide stop indeed. Few, if any have the resources to be able to that. As a result, I find it better, to look at the supports and resistances in the main trend, and then trade the bounces and retraces, leaving the trend for the Institutions who can cover such a wide stop.
Hope this helps.
Stu
Dear Stu,
At the moment I am very busy and therefore find it difficult to focus my thoughts on what I need to do to get started. I feel as if I need to review all the training I have already done and paper trade for a number of months, but that seems to delay my actual trading. Do I therefore plunge forward and hope for the best, or continue reading and perhaps procrastinating?
Regards,
Chris.
Hi Chris
Time is an issue, sometimes with everything that I am involved in, I find it difficult to find the time to trade. I think the best thing to do in your case, is the following;
1 – grab four sheets of paper
2 – write – trending long trade, trending short trading, bounce and retrace.
3 – on each, then write what you know as regards the setup and how to trade each one of those.
4 – when you’re done, go back over your notes and you will be surprised at how much you already know.
5 – fill in the gaps by skimming over any other notes you have from your training.
6 – open a live account with worldspreads,com – tell them I sent you as they have various offers open, usually to those that are introduced.
7 – fund it with a couple of hundred quid.
8 – trade using the techniques for bounces and retraces on stocks.
Let me know how you get on.
Stu