Only 3 steps to become a free trader? Show me how to play a game of chess in the market and do so effectively. Here we go! Click here or in the video below to learn more.
John describes the game and rules to excel at free trading in a neutral market. He highlights on the importance of first learning non-subjective, rules-based trading, focusing on following the guidelines rather than your own emotions to create integrity with yourself. If you are unable to commit to a decision and follow though with that decision, regardless of the outcome, you will not make profits long term in this business! John focuses on the specific skills developed in isolation. As we cannot develop 12 skills at the same time, you must focus on developing and internalizing skills one stage at a time, which TAKES time.
Learning technicals and implied volatility analysis will allow you to gain a deeper understanding of how your positions react to price movement and volatility changes. Understanding this permits you to have the understandings needed to make the right decision on your trade at the right time. Allowing you to modify your positions as needed to be more likely to make higher profits more consistently.
Finally, John comes full circle to talk about the importance of intuition; the ability to use your gut feeling to trade effectively. Gaining the ability to look at the market and understand what it is doing to your position and adjust accordingly with ease. Ultimately, following the 3 steps John provides in this podcast will put you on the path to becoming a powerful free trader. It will answer essential questions like:
Am I in a good position?
Am I likely to have a problem in this position given what is going on with the T+0 line?
Should I make an adjustment?
The answers to these questions allow us to make powerful, profitable decisions in our trading. Recognizing the shifts in the market quickly with good probability will empower us to become free traders!
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