[You need money to make money in trading]

After years of studying successful traders, here’s what I’ve realized…

Most of them have multiple sources of income.

Why?

Because if trading is your only source of income, you will have the need to make money every month.

This causes you to make poor trading decisions like widening your stop loss, averaging into losers, trading too large, etc.

And that’s why many professional traders do not rely on trading as their only source of income.

Don’t believe me? Let me prove it to you…

Ed Seykota, a Market Wizard, has a trading tribe that costs $99/month.

Mark Minervini, a Stock Market Wizard, offers a master trader program that costs $5000.

Most hedge funds (even the best ones) charge a management fee every year—even if it’s a losing year.

To put things in perspective, if you run a billion-dollar hedge fund and take a 1% management fee, it means you get $10m a year—guaranteed.

As you can see, professional traders and hedge funds structure their trading in a way that it’s not their only source of income.

But wait, that’s not all because…

If you have multiple sources of income, then you can use the “extra” money you’ve got to increase the size of your trading account.

Because with a larger account size, you can make more money from trading.

Here’s an example, let’s say your average return is about 20% a year.

This means…

–On a $1,000 account, you’ll make about $200 per year
–On a $100,000 account, you’ll make about $20,000 per year
–On a $1m account, you’ll make about $200,000 per year

See my point?

Do you want to read the price action of the markets like a professional trader?

Then download a FREE copy of The Ultimate Guide to Price Action Trading.

You’ll learn how to better time your entries, “predict” marketing turning points, identify explosive breakout trades about to happen, and much more…

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There's no such thing as failure, only feedback. If you're not seeing the results you want, it's feedback that whatever you're doing isn't working.

So go make the necessary changes and give it another go. Failure only happens when you quit.

Otherwise, it's feedback.

Bollinger Bands Indicator Explained

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Everyone wants to become a professional trader without really knowing what it means. So here's the truth and what it takes to become one…

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ETFs vs Stocks: Which Is Better For You

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Profitable trading is about:

1. Discipline
2. Risk management
3. Mastering your emotions

Do these and you're unstoppable.

If you're serious about trading, then you MUST have a trading journal. Here's how to create one step by step…

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[Here’s how to avoid getting stopped out of your trades early]

Let me ask you…

Have you ever put on a trade only to watch the market hit your stop loss, and then continue moving in your expected direction?

It sucks, right?

And that’s because your stop loss is “too tight”.

So, what’s the solution?

Give your trade room to breathe.

This means your stop loss should be wide enough to accommodate the daily swings of the market.

Now you’re probably wondering:

“But how much is wide enough?”

“How to use ATR to improve my stop loss objectively, will it actually help?”

Well, here’s how you can use the ATR indicator to help you with it…

–Find out what’s the current ATR value
–Select a multiple of the ATR value
–Add that amount to nearest Support & Resistance level

So…

If you are long from Support and have a multiple of 1, then set your stop loss 1ATR below the lows of Support.

Or if you’re short from Resistance, and have a multiple of 2 then set your stop loss 2ATR above the highs of Resistance.

How to identify the direction of the trend without second-guessing yourself. Here are 5 techniques you can use…

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Trading one strategy with discipline is like having a loyal partner.

Having 10 strategies without discipline is like dating multiple partners and ending up alone.

Are you confused by the sheer amount of trading strategies out there? Well, turns out there are only 5 main trading strategies and here’s how they work…

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Tariffs by the USA

[The truth about trading nobody tells you]

Trading is a get-rich-slow scheme.

You’re probably wondering:

“But Rayner, I’ve heard of traders trading a small account and turning it into 7-figures.”

Now, that could be possible but the odds of you pulling it off are slim to none.

Here’s why…

The only way for you to make a huge sum of money quickly is to take a huge risk on your trades.

If you get lucky, you could generate 6 or 7-figures on your account.

But here’s the deal:

99% of traders who attempt it will blow up their accounts. Only a lucky few could get away with it (and it’s nothing to do with skill, but luck).

But hey, don’t take my word for it. Here’s what Warren Buffet has to say about his wealth…

“My wealth has come from a combination of living in America, some lucky genes and compound interest.” – Warren Buffet

The keyword here is compound interest.

In other words, Warren Buffet became the richest investor in the world by being the best at what he does and, compounding his returns.

This is not achieved over a few weeks or months—rather, it’s compounded over 50+ years.

So, if you’re looking at trading as a get-rich-quick scheme, then guess what? You are the scheme.

Do you want to read candlestick patterns like a professional trader?

Then download a FREE copy of The Monster Guide to Candlestick Patterns.

You'll discover how to "predict" market turning points and better time your entries & exits—even if you have no trading experience.

Click the link below and grab your copy, it’s free!

https://www.tradingwithrayner.com/candlestick-pdf-guide/

Trading is the endeavour that makes you feel like the smartest and dumbest man alive.

Sometimes all within the same day.

How to tell when Support or Resistance will break so you don’t get caught on the wrong side of the move

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[The ONE thing you must have in trading that nobody tells you]

This is one of the biggest trading myths which have fooled most traders…

“If you have a winning trading strategy, you can use it to make millions of dollars from the markets.”

That’s B.S.

I’ll explain…

Yes, you can have a winning strategy but, it doesn’t mean you can make millions of dollars.

Why?

Because the size of your account matters!

Let me give you an example…

Let’s say you have a trading strategy that makes 20% a year.

On a $1,000 account, that’s $200/year.

On a $10,000 account, that’s $2,000/year.

On a $1m account, that’s $200,000/year.

As you can see, your trading strategy is one part of the equation, the other equally important aspect is the size of your account.

And this is the same reason why hedge funds raise millions, if not billions of dollars—they need money to make money in trading.

The Essential Guide to Technical Analysis

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The Complete Guide to Risk Reward Ratio

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