| | From The Desk of The Trader |
| Greetings Friend:
My name is Ev Roberson and I’m the founder of The Art of Simple Trading [TAOST]. I want to welcome you to Follow Along February 2019 Trading Challenge [FAF19]. This is an email course designed to teach you a bit about day trading and how to make it your own highly profitable sidehustle… with a trading challenge attached for a bit of fun.
There’s a revolution in access to online trading. This revolution has opened the doors to Wall Street and is granting anyone who wishes to participate in this business a pass. The pass is, by no means, a free pass as many of you will soon learn; however, for those of you who manage to survive the never-ending learning curve, you too can enjoy one of [if not] the most lucrative sidehustles ever.
That said, there are a few things you should know before you wade into the day trading waters. For some the points below will be sufficient to turn you off from the idea of day trading altogether… for others they’ll give you an idea of the exact hurdles you need to scale to be successful.
- It's Not Easy -- Day trading is not easy. But not for the reason you likely think. Day trading requires you bring a level of Emotional Capital™ to the game each day that many people are disinclined to do. Note I said they’re not inclined to bring that equilibrium to the table… Not that they can’t. Where do you stand on this?
- It's Not Immediate -- To the extent you achieve stellar results (aka exponential growth of your account), it’s highly unlikely to happen quickly. In fact, if done correctly, you will take your biggest losses at the beginning.
- What You Need -- You don't need a giant starting account... nor 87 screens... nor a fancy strategy... nor to be in front of your screen(s) all day. What you do need we'll get more into as this course progresses.
- It’s Boring -- Profitable day trading is boring trading. If you’re looking for a “good time,” instead of opening a day trading account, take the funds and head to Las Vegas. The outcome will be about the same, but it will be "exciting."
There's certainly a lot more to know, but we'll get into much of that during this course.
Mini Syllabus
In this course we’re gonna cover a number of topics important to your development as a trader. They include (but aren’t limited to):
- The day trading foundation you need
- How to think about trading losses
- How to think about risk
- How to deal with fear
- How to put expectancy in your favor and exploit it
- How fractals help you in short term trading
- Trading strategy
- Investor or trader
- Mistakes that kill new traders
- How to get started yourself
And far more… 9 more to be exact.
One word of warning… This free email course will likely teach you some things you don’t know/understand about trading generally… and day trading specifically. But it will not turn you into a trader. What’s more, that’s not my intention. What I really want to do is introduce day trading in a more formal manner, dispel a few of the false ideas associated with day trading by most people and give you an idea of what’s involved… as well as what’s possible.
How The FAF19 Challenge Works
I’ve done several of these challenges at this point and they each kind of work the same way.
- I start with a nominal balance of $1,000 in one of my accounts. This is my first risk management tool… By starting with far less than the minimum to open an account [generally $5,000] I provide an extra measure of safety to my funds.
- I only trade 1 security. One of my core simple trading principles is focus. Here that means I only trade a single security day in and day out. For this challenge I’m returning to the YM because it’s the best security for beginning day traders.
- I use $700 margins [think of margin as the amount of money you need in your account to trade a single contract]. This is my next risk management tool… most of my brokers allow $500 margins, but I increase my margin requirement to minimize risk even further by lowering the leverage I’m using. This means I start with a single contract. As my account balance grows, I grow my maximum number of contracts per trade. I cap that max size at 20.
- I stop trading for the day when I reach or exceed my Daily Goal (determined via formula nightly before the next day's trading)... exceed my daily loss limit... or at 11am EST. This is another risk management tool. Many traders are able to make money in the morning, but give it back in the afternoon. Similarly, many traders fail to use a hard loss limit on their day trading. The ability to simply stop is another core Simple Trading Principle.
Let’s Go
Ready to get going? Well, the good thing is by confirming your spot on my email list, you’ve already activated the course. You’ll start receiving lessons and updates on FAF19 in the next couple of days.
If you know someone else who might be interested in this course and/or the challenge, send them to my site at TheArtofSimpleTrading dot com where they can join my email list.
If you aren’t interested in the course and/or it’s not what you thought it was, don’t worry… my email list company provides an automated removal service which will be activated if you don’t open a few emails from me.
Again, I'm glad you signed up and welcome. Let’s get started. |
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