Let's say you have US dollars in your account and buy something against Bitcoin. You buy Bitcoin, and then you use the Bitcoin to buy Ethereum. Thus, you are trading the movement of Bitcoin versus Ethereum, And when that trade is finished, you close it, you're left with Bitcoin. If you don't convert the Bitcoin back to dollars, you have currency risk on the Bitcoin. My approach is if I'm trading...
With Interactive Brokers, if you have a margin account and your base currency is Australian dollars like mine, and I want to buy US dollar stocks. The way it works in Interactive Brokers is I want to buy US dollar stocks, I've got Australian dollars in my account, but it's a margin account. I don't have to convert my Australian dollars to US dollars and then you use the US dollars to buy US...
It would be better to trade what you test and test what you trade. Thus, if you could find a way to match your backtest with your execution or to match your execution with your backtest, that would be a better solution, and there's two ways to do that. The first way is to automate so that it can run when you're asleep, and it'll just happen, that way there's no slippage because what you're...
You can encounter many challenges on the road to being a successful Trader, so it's a good idea to watch out for the warning signs. Difficulties that arise through unnecessary mistakes, getting caught out by market volatility, and being inundated with noise on the latest crazes, to name a few, can divert you from your trading plan and have some serious repercussions on your trading...
If you apply one system with an index filter to all markets with a big watchlist, you will be turning that system on or off for all markets simultaneously. So, do you want to build country diversification into your portfolio intentionally? If you're going to build country diversification intentionally, then applying the system to all markets simultaneously won't force country diversification....
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The Crypto Acceleration Bundle Does 3 Things:📈 Gives you the critical ingredient for trading success that most crypto traders just don't do, so you can win where most fail! 📈 Eliminate the 20 Killer Trading Mistakes that most crypto traders make, so you can protect your capital and grow your wealth faster 📈 Show you how to become an ultra successful trader with my Millionaire Trader Code Course...
One of the big mistakes that people make is trying to predict the markets. No one can accurately predict the market consistently over again because we don't have a crystal ball to predict what events will unfold. If you read all my emails, it's a bit tongue-in-cheek about calling it the market bottom, but I think you want to understand the implications of what-ifs. What would happen in my...
I'm not sure what it is about trading and the financial markets that people think, "Oh, I'll just quit my job, and trade for a living." It's like, "What? I'll just quit my job and become a brain surgeon." No you won't because you'll kill a few people while you're learning, and then you won't ever get a job as a brain surgeon. People also come to the markets thinking, "Oh, I'll make some money,...
The tenth commandment of profitable trading is the most interesting. Most people look for the holy grail. What is the best strategy, the best set of rules, the best stock to buy, and the best that will make people rich. However, that search is a fool's errand because you spend so much time searching for perfection that you don't make money. If you've got a good trading strategy and follow it...
The ninth commandment of profitable trading is to eliminate mistakes. The trouble is most people don't know they're making mistakes. I wrote a document and it's got 97 common trading mistakes people have called the Trading Mistakes Cheat Sheet. As you are doing your trading, your journal says, "Okay, what did I do wrong today? What went wrong? What could have done better?" And identify what...