G’day,
It is a gloomy day on the Gold Coast today, but we shouldn’t complain – it is winter after all.
Quiet weekend for the markets, not much to report today. We are getting some signals in the Forex, but only the few. GBP/USD is right at a resistance level from April, so breaking that might be a tall ask.
Commodities have some nice trades moving, after what were some tough trades last week. With stops in place, you should be ok. The good trades right now should be outweighing your bad.
ETFs, we are heading towards the end of the month, so this time next week, you would be looking for new entry signals or exits etc. You might not have much to do this week, unless you have some weekly update exit signals.
Options, I’m seeing some nice looking BUPs at the moment. Premiums are looking good – there is a lot of high risk trades though, so take the quality trades over the “ho-hum” not so good looking ones.
Today’s Top Tip!
Intermediate Training.
We got some fantastic feedback again from this weekend’s Intermediate training. People left the workshop in a different world, their eyes opened and their knowledge blossomed. If you feel you need that little bit extra help, or just don’t have the confidence to take that step to going live, to understand Support and Resistance and many other small things that could make all the difference for you, then I suggest booking into the next Intermediate.
http://www.arltbookings.com/skyrack/listEvents.php?eth=2&organiser=1®ionh=1&et=10&
Information for Beginner traders- Losing trades are inevitable, so that is why staying in until you get the exit signal is imperative, if you get out early and strangle the potential for more profit, then that is going to make long term profit harder to achieve.
Information for Intermediate traders- Knowing the kind of person you are will make a huge difference to your trading. If you know you’re a risk taker, or if you struggle with stress, then you will be able to understand why you do the things you do in trading. If you want to know more, contact the MPowered Success team, or go to www.mpoweredsuccess.com and use the personal profile tool. Take the step to learning about yourself, not just the markets!
Information for Advanced traders- As an advanced trader, you should know how you handle the elements, and how you best manage situations that trading puts you in. That is why it is such a big part of the current Advanced training content, before I knew the profile of my personality, I made decisions based on what I thought was right and what I had proven to work. Now I know why I thought they were right, based on the person I am. This is a huge advantage, it helps me stay on track and reap my rewards.
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If you’ve been trading for a while, you will release that success in trading comes from mindset. Having the right mindset is critical to making head or tail of the global markets. May experts agree, that having a great system that tells you when to get in and when to get out, is only part of the story. Mindset represents 60 to 70% of success.
One of our very own trainers, Darryl Nagel has put together a brand new course, where the focus is on trading mindset. During the course Darryl and his team will give you hands on examples that will put your trading specific mindset to work. For more information, visit http://lifestyleurl.com/mindsetevent
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Scott Goold
Head of Lifestyle R&D
