Trading in 2018…
What is going to be the new “hotness” in 2018 when it comes to stocks? Crypto Currencies? Weed Stocks? Tech Stocks? Who knows, and who cares? The job of a short term trader, whether day or swing, is to locate volatility and understand the technical conditions behind it! Strategy. Discipline. Consistency.
These are the 3 things that offered the J. Lewis Trading Team a solid 2017! Both our Trading Desk and Trading Academy achieved amazing things by following a very simple to understand trading strategy. It’s the simplicity of the system that lead to huge success in 2017 and previous years. So back to the question: What is going to be the new hotness in 2018 when it comes to stocks? The answer is Strategy and Discipline! Clearly they’re not stocks but they are the two attributes that will be the difference in whether or not you have a successful year trading!
As a Trading Mentor, I have seen some practices that often lead to failure. These practices are things that the majority of failed traders or investors are guilty of;
1. Trading off tips.
2. Trading based on a “gut feeling”.
3. Trading because they “like’ the company or stock.
There is a subjective approach taken with no real analysis done. The dirty laundry list goes on.
In 2018 some of your Trading New Years resolutions should include not doing ANY of the noted things that lead to a 90% failure rate. In 2018 and beyond you should be looking at doing what my mentor told me many years ago; “find that 1 thing that makes sense to you, and that works and hyper focus on that ONLY!!!”. With that said there is extreme value in specializing in 1, maybe 2 things when trading and not deviating away from that. Last year, like the trading years that proceed it, was a year of focus! The J. Lewis Trading Desk only traded 2 set-up’s that were offered in the same market conditions. We followed the exact same strategy every trading session and the net result was very positive. It’s the same system that I have personally been trading for years and the same system that I have been coaching traders (of all levels of experience) for ages. Our desk along with our students had very similar results. When our students followed our trading strategy as its taught, they were offered positive consistency. The real “hotness” in trading comes from knowing what to do and when. Which is what we focus on as a Trading Academy. There are too many people out there that are not meeting their trading potential simply because they don’t have the proper direction and guidance. The focus for 2018 and the years to come should be on achieving consistency.
As a Trading Desk and a Trading Academy there is only one equation that we follow: Strategy + Discipline = Consistency.
To achieve consistency you’ll need to work backwards before you can move forward. What I mean is if consistent profitability is the ultimate goal you’ll first have to look at what your challenges up to this point have been. Then quit them or fix them. You’ll want to look at your understanding or pattern recognition and your general understanding of technical analysis. You’ll want to do some research of where you losing trade ideas have come from historically. Then look to make drastic changes moving forward. If you find yourself drawing a massive question mark that’s ok. That actual means you might be ready for your first step in a new direction. If you haven’t already, check out our FREE video series on The 7 Steps Successful Traders Take Before Trading by clicking that link. If you’re looking to garner more in depth actionable information you can join us in the J. Lewis Trading webinar called Ask a Trader that we host 2 times a week. We discuss our strategy in detail and offer stock picks that we like based on our trading system. Best of all we’ll go over the stocks that you’re interested in and have questions about. With all that said 2018 like any other trading year should be about being focused and executing trades that follow a system. As a Trading Desk and a Trading Academy there is only one equation that we follow: Strategy + Discipline = Consistency. Welcome to 2018 Traders!!!