Well, I didn’t think it would be such a long break between updates, but here we are 11 episodes on and I’m back here to let you all in on how I’m progressing with my trading and everything else that’s been going on.
In today’s episode I’ll share:
- An update on my Pro Football (Soccer) career of days gone by
- Cold Therapy update from my last show
- How I grew my trading account 300% since we last spoke (& what happened next)
- Takeaway’s from the last 10 traders
- My BIG Listener Competition – you don’t want to miss this!!
Today's SponsorVisit TradeDefender.com and receive $50 off with coupon code: 52TRADERS
Am I an Ex-Pro Football (Soccer) player?
I had to laugh when one of you listeners sent me an email asking if I use to play football professionally. The closest I managed was playing with and against a fellow Kiwi who had a short career in the English Premier League and was named rookie of the year in the MLS (Simon Elliott for those who know NZ football).
These days I have to make do with Masters 1 (35+ year old’s) football here in Wellington with a team known as “The Grizzlies”.
I don’t do too bad and last weekend helped the team beat last season’s champions 1-0, scoring the winner no less (after running onto a long ball and firing home with the left foot from a mammoth 2 yards!). This is the first ever time we’ve beaten Brooklyn (they beat us 9-0 at the end of last season to win the league on a shockingly cold day, that almost sent me hypothermic). The match was called off after 70 minutes – who knows what the score could have been??
What made this victory even more special was being served by their keeper at the city sports shop later on in the week… Yes, he did recognize me (but no words were exchanged). Haha! Anyway, back to the update.
Cold showers find the “hot spot”
In my last update I challenged you all to take a cold shower to see if it would break some bad trading habits and put you out of your comfort zone so you could become comfortable being uncomfortable.
Well, I was pleased to hear some of you took up the challenge taking your first cold shower. Well done guys!
I must say though, as summer turned to autumn and the cold shower water started to get a bit colder, I did find it hard to keep going and took a week off at one point. But I’m back into it again and finish off every shower with a good solid minute or so of cold (well, freezing cold… to be precise).
What’s funny is that things have all started to align. The same listener who thought I was a pro footballer, told me about the king of cold showers – a guy named Wim Hof (nicknamed the “Ice man”). I checked out his video this week and was surprised to see that cold showers are just the start and there are many other ways of being cold and benefits of doing so. To learn more yourself take a look at this:
My 300% trading account triumph
Last time I spoke about getting back into the markets and trading again. I’d built lots of trading robots as part of my course but had been reluctant to trade them because I would always find an excuse not to.
What I realized after my Rob Booker interview was that I couldn’t just sit on the sidelines anymore. I had to be in it to win it!
And what a start I had… 300% growth on a tiny $30 account (the smallest account I’d ever traded – that I was obviously happy to lose) was not what I was expecting.
92% winners and the ability to scale up trades and feel confident about it… I thought I would own the world in a few years time.
But, one of my mentors had told me numerous times to close the trades before the weekend. I thought I knew better and then one weekend shortly after I took the screen shot above…
BOOM… a 200 pip weekend gap. And I was on the wrong side of it:
Account blown 🙁
It took me a week to get around to funding the account again and then I was back in with the knowledge that this strategy still had legs, as long as I took a slightly more conservative approach around weekends (I built a filter that stopped the EA from taking new trades on a Friday and closed out any open trades at a loss or profit at 4pm on a Friday).
So, here’s the new account after a week and a half:
Where will I be come my next update? Who knows? My guess is that I’ll have more than one EA running. Probably trading on multiple instruments at higher timeframes.
If you want to join me on this auto-trading journey, head on over to my other site (AutomateMyTrading.com) and get access to this trading robot and any others produced by the thriving community and learn how to build your own robots in the process.
Oh, before I forget, check out the interview I did on the Two Blokes Trading podcast, great guys on a similar journey!
Takeaways from the last 10 traders
1) Get hours and hours of chart time
We don’t like to hear this, I know. We have plenty else on in our lives to spend hours staring at the PC screen at home. I mean, we do this for 8 hours a day at work. Home time is for relaxing… Right???
But this was one of the major “success factors” with all these traders. It’s hard, I know. But it’s a sacrifice these guys have made and no doubt many others.
2) Commit a time to trade
We all might like to think of ourselves as traders, but are you like me and dipping in and out of the market when you have a spare 5 minutes? Is it way down your priority list? Would you rather be watching the TV?
I find this one hard myself. I have so much on that to spend concentrated time trading (either manually or automating strategies) is hard. Especially manually for me given I can achieve so much more if I start to automate things.
All my recent guests not only dedicated hours, as per point 1, but they prioritize trading much further up the ladder than most of us. They have created the habit and it forms part of their life. That’s why they succeed at it.
Start small, form a habit and grow it:
- Day (or week) 1 pick a 5 minute time slot for trading at the start of the day (do this every day or week, whatever works best), e.g. 8:05pm after dinner and a bit of relaxation
- Spend that 5 minutes solely on effective trading related chart time, e.g. finding setups or back testing
- Day (or week) 2 double the amount of time, i.e. 10 minutes
- Continue doubling it until you reach a comfortable daily allocation
- Review your trading after 1 month and see if you have improved
- Repeat the process from the beginning, if you failed, or continue with the same time slot and amount if you succeeded
BIG LISTENER COMPETITION:
Trading Mentors Match-Off
Finally, here’s everything you need to know about the “Trading Mentors Match-Off” competition.
Firstly, if you are one of our 3 winners you’ll get thousands of dollars worth of currency trading mentor-ship and education for FREE from your mentor.
How it works:
- I have 3 trading mentors lined up Avdo Hadziavdic, Adam Lord and Derek Vanderlinder, ready to take on one student each and turn them into a successful trader right here on the Podcast in front of everyone
- You can enter by leaving a comment below – your comment should try to convince our mentors that you would be a great student by answering there questions (see below) honestly and telling them a bit about your trading story (successes and failures)
- On 27th May 2017 I’ll ask each mentor to choose 3 traders they would like to mentor (based on the comments you leave below)
- I’ll then randomly draw 3 of those 9 traders from a hat (live on my Facebook page – Like the page to see the prize draw LIVE ON FACEBOOK)
- I’ll allocate one trader to a mentor at random
- Each mentor will then take their trader and train them over the coming weeks/months (free of charge – obviously) and we’ll get to follow along to see their amazing journey
How to enter:
- Leave your comment making sure it covers the questions asked by my mentors
What’s required if you win?
- You’ll need to commit the time required by the mentor
- You’ll need to be available for interviews on the 52 Traders podcast (I’ll make sure the time suits your schedule)
- You’ll need to provide a picture (head shot) of yourself to be displayed on this website
- (optional) You may be asked by your mentor to undertake some hypnosis to help with your trading mindset
Please answer these questions (from my mentors) in your comment:
- Would you consider yourself an emotional or logical person?
- How long have you been trading for and what type of strategy?
- Do you consider your self a patient person?
- How much time can you spend each day learning to trade?
- Are you able to follow strict rules and not deviate from them?
- What kind of personality do you have?
If you have questions about the competition please send me an email on cam at 52traders.com instead of leaving a comment 😉
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