Motivation

0 2029

Today I’m answering questions sent in from listeners which hopefully will provide some inspirational insight for aspiring traders. these questions are;

  • How did you get the idea to become a Pro Trader?
  • Did I have a trainer or mentor?
  • How did I come up with the 5,18 & 62 indicator?
  • Did I develop methods with trial & error or modify existing methods?
  • Do you need to have financial challenges in order to develop the desire to succeed in trading?
  • What is your favourite trade ever?
  • What is your worst trade ever?
  • Do you ever scan other markets in the event of your main ones ranging?

Mentioned in todays Podcast

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Damon Elliott uses ETX Capital as his trading platform. Click here to join ETX Capital

Right click here & “save as” to download this episode to your computer

THANKS FOR LISTENING!

Don’t forget to subscribe to the show on iTunes to get automatic updates.

Thanks again for listening to the show! If it has helped you in any way then please feel free to share it.

Additionally, reviews for the podcast on iTunes are extremely helpful and greatly appreciated! They do matter in the rankings of the show and I read each and every one of them.

And lastly, if you have any trading related questions, please email me at damon@piptastic.com – this show has over 52,400 downloads and counting so the answer to your question could be the difference to a fellow trader!

0 2702

There is a lot of exciting aspects & challenges to the home based trader but what about the hidden challenges that we face? Lots of home based traders often face battles with the isolation that trading can bring, often questioning whether “normal” people can succeed & what the right path to take to move forward is. In todays episode I’ll be discussing various conversations I have had over the past week with traders on these areas & my thoughts & advice on them.

Mentioned in todays Podcast

Become a Piptastic Member here

Piptastic Facebook Page for exclusive content, “like” our page at www.Facebook.com/piptastictrading including screenshots & explanations of trades I’ve taken

Check out & Subscribe to the Piptastic Youtube Channel here

Snapchat: damonelliott1

Damon Elliott uses ETX Capital as his trading platform. Click here to join ETX Capital

Right click here & “save as” to download this episode to your computer

THANKS FOR LISTENING!

Don’t forget to subscribe to the show on iTunes to get automatic updates.

Thanks again for listening to the show! If it has helped you in any way then please feel free to share it.

Additionally, reviews for the podcast on iTunes are extremely helpful and greatly appreciated! They do matter in the rankings of the show and I read each and every one of them.

And lastly, if you have any trading related questions, please email me at damon@piptastic.com – this show has over 40,000 downloads and counting so the answer to your question could be the difference to a fellow trader!

0 2939

Are the thoughts we process when entering a trade actually harming our decision making? In todays podcast I’ll be discussing how you can possibly reframe your trading decisions to create a less stressful experience within your trading. Also in this episode is a chat about defining a trading method blueprint to effectively model & build upon.

Mentioned in todays Podcast

Become a Piptastic Member here

Piptastic Facebook Page for exclusive content, “like” our page at www.Facebook.com/piptastictrading

Check out & Subscribe to the Piptastic Youtube Channel here

Snapchat: damonelliott1

Damon Elliott uses ETX Capital as his trading platform. Click here to join ETX Capital

Right click here & “save as” to download this episode to your computer

THANKS FOR LISTENING!

Don’t forget to subscribe to the show on iTunes to get automatic updates.

Thanks again for listening to the show! If it has helped you in any way then please feel free to share it.

Additionally, reviews for the podcast on iTunes are extremely helpful and greatly appreciated! They do matter in the rankings of the show and I read each and every one of them.

And lastly, if you have any trading related questions, please email me at damon@piptastic.com – this show has over 38,000 downloads and counting so the answer to your question could be the difference to a fellow trader!

0 1864

Success in trading to many can seem such a long way off or you might face a period where you can’t see where the next successful trade is coming from. In this podcast I’ll be discussing ways in which you can strip back your trading & restructure it so you can start to fast track yourself to profitable & consistent trading. I also discuss how the fear of losing is much stronger than the thrill of winning but more importantly how you can start to reduce that fear in order to stop closing trades too early.

Mentioned in todays Podcast

Piptastic Facebook Page for exclusive content, “like” our page at www.Facebook.com/piptastictrading

Check out & Subscribe to the Piptastic Youtube Channel here

Snapchat: damonelliott1

Damon Elliott uses ETX Capital as his trading platform. Click here to join ETX Capital

Right click here & “save as” to download this episode to your computer

THANKS FOR LISTENING!

Don’t forget to subscribe to the show on iTunes to get automatic updates.

Thanks again for listening to the show! If it has helped you in any way then please feel free to share it.

Additionally, reviews for the podcast on iTunes are extremely helpful and greatly appreciated! They do matter in the rankings of the show and I read each and every one of them.

And lastly, if you have any trading related questions, please email me at damon@piptastic.com – this show has over 30,000 downloads and counting so the answer to your question could be the difference to a fellow trader!

0 2178

In todays podcast I’m discussing 5 important areas of you trading that you can learn from yourself. Often, traders looking for success are looking in the wrong places & whether consciously or unconsciously ignore the obvious areas which will benefit their trading. In many ways these benefits are huge but not too many people are prepared to pull back the curtain & explore these areas.

Sites Mentioned in todays Podcast

For motivational articles & videos check out www.addicted2success.com

Piptastic Facebook Page for exclusive content, “like” our page at www.Facebook.com/piptastictrading

Right click here & “save as” to download this episode to your computer

THANKS FOR LISTENING!

Don’t forget to subscribe to the show on iTunes to get automatic updates.

Thanks again for listening to the show! If it has helped you in any way then please feel free to share it.

Additionally, reviews for the podcast on iTunes are extremely helpful and greatly appreciated! They do matter in the rankings of the show and I read each and every one of them.

And lastly, if you have any trading related questions, please email me at damon@piptastic.com – this show has over 26,000 downloads and counting so the answer to your question could be the difference to a fellow trader!

0 2519
Piptastic Training for Traders

Have you ever felt like giving up on your quest for trading success?

If so, then you are not alone. I think at some point in every traders learning curve is that niggling feeling of failure that seems to chip away at your confidence.

One of the vital things to be aware of is that trading is a skill like any other & it does take perseverance to succeed especially when it seems you are closer to giving up than trading success.

Listen in as I discuss this process in a traders mentality & some motivation to help you get over it.

Right click here & “save as” to download this episode to your computer

THANKS FOR LISTENING!

Don’t forget to subscribe to the show on iTunes to get automatic updates.

Thanks again for listening to the show! If it has helped you in any way then please feel free to share it.

Additionally, reviews for the podcast on iTunes are extremely helpful and greatly appreciated! They do matter in the rankings of the show and I read each and every one of them.

And lastly, if you have any trading related questions, please email me at damon@piptastic.com – this show has over 24,000 downloads and counting so the answer to your question could be the difference to a fellow trader!

0 1014

Hurrah!

Summer is here & the time is right… for dancing in the streets..

ewww just when i had put those images of jagger & bowie out of my mind however there is a very important issue with summer for us traders & that is potentially less time at the screens & no more warming our feet on the laptop power pack during cold spells!

Anyway, take a look at this short video I have done which details some pointers for us traders during this hot spell.

Enjoy!

0 996

Today was one of those kind of “milestone” days for me. You may recall that a short while ago I wrote about realising that I had been to the gym over 300 times I was in exactly the same place I was when I started! Clearly there had been a peak in the middle somewhere of fitness but it all boiled down to one thing – do the same things, you get the same results. Of course, even during my gym visits, it was still ok to eat chocolate & fatty dairy products.

But this time was different.

After realising the above, I took massive action. Now I won’t go into the details of my gym & eating regime here but the upshot of it is, that I changed my approach to generate a different result. Today was that milestone where I reached the 400th visit to the gym & I am lighter & fitter than I was during the previous 330ish visits. Even better than that is that I am at my lightest weight for over 10years but I also realise that health & fitness is a journey not a destination. I’ve had to change my entire view & outlook towards my training.

By now you should be seeing the obvious parallels to trading.

If you do the same things you will generate the same results.

Good if you are picking up your daily target each day, however not so good if you are not. More importantly, have you decided to review & change approach?

It is without doubt that your road to success within trading is going to be littered with obstacles, hard times & challenges after all, if it was easy then we know everyone would be doing it, but it isn’t.

There will be times when you want to quit, throw in the towel, bin it for some other making money venture but this is exactly the point that trading sorts out the groups into who will achieve in trading.

Many times when people reach this point, they will forget to ask themselves if they know what price they are willing to pay in order to achieve success. Now, don’t get me wrong. I’m not referring to paying a price in terms of purchased materials but merely the price in terms of your own sacrifice.

What is it you are willing to place on hold in your life, watching less telly, staying up a little later or getting up a little earlier? Do you even know?

Now is a good time to ask yourself the question.

What price are you willing to pay in order to achieve success in trading?

Pretty much everyone I speak to wants it bad, but how many are willing to put the effort in?

Look at a sportsperson training for next years Olympics. Do you think they roll out of bed at 10am, quick macdonalds breakfast before deciding to train only to put in a half hearted effort & then head home to play on the xbox.

Or are they up at a very early hour, putting in more training before 7am than most people will do in a week, focussing on what goes into their body & more specifically their mind.

The difference between them & us traders (apart from the six pack!) is that only one of them gets the gold medal. We, can dish out gold medals to whoever trading chooses.

Dr Alexander Elder quotes in his book that one of the world’s leading hedge fund managers spent the first three years of his trading career in a loss making position. That means not coming out of the red for over 3years. Most home traders give up after 3months. That man knew he wanted a gold medal.

You may find however, that some sacrifices in your quest for trading success are unrealistic or are things you may not want to sacrifice. This is your choice & your decision alone.

But whatever you decide is worth sacrificing or not, I can tell you that there is something for everyone in trading, from the skilled speed down on the 2-5min timeframes, the more reliable solid hourly timeframe for those that are time challenged during the day all the way up to swing trading, looking at those end of day charts.

The longer you persevere, the more chance you have of succeeding in trading.

Until next week, have an amazing weekend & I’ll see you at the top!

Damon

0 968

Not quite “shakin that ass” but isn’t it amazing?..

Seriously amazing.

Just stop & pause for a moment & think about what I will say next.

The screen in front of you can potentially unlock your world. All the ingredients are there just waiting to be mixed together correctly. Cash, property, flash cars, fast women/men, no debts, holidays, trading on the beach with your laptop wearing Piptastic speedos….

Ok, maybe not the last one but you get my gist. Basically what I’m saying is that the screen right in front of you can change your life. That’s real power.

So, we have a tick in the first box because I think we all agree that the potential is there for anyone but why does it only happen to a few.

Just imagine all of us on a coach trip. We are all sat in the seats, having a good old laugh, chinwagging about the good ol days of eighties music & discussing last nights telly…. But wait, who’s this joining in with us?…

The coach driver!…

Here we are, at the back of the coach (because whoever got the back row was kool) & where’s our driver- he’s only at the back joining in the laughter!! We ask in a panic “what the hell are you doing back here”…

“it’s ok, the coach is fitted with one of those fancy autopilot thingys… I can even go to sleep behind the wheel if I want…”

Phew, that’s alright then…

Let’s pause the Betamax there… what are the odds of someone actually saying… “I’m not avin that… I’m off to grab the wheel”

Including me to be first in the queue because I would prefer to be in my own hands.

Yes, the smart people are probably grinning right now claiming then why do planes have autopilot..

I say, well why do airlines train pilots for years, pay them loads & stick them in the cockpit with the autopilot.

Bottom line – WE are responsible for moving forward whether its driving flying or trading. Most if not all full time traders will have taken an off the shelf system & made it there own. They learn to roll with it, when to trade it & when not to, how many pips to take, when to let it run. A bit like a pilot flying through a patch of turbulence really, they guide the plane through it using their skill & judgement.

Brilliant Damon! You are so on the mark I hear you say but wait…

The next key is how do you really make a system/method/ strategy your own?

That, my friend can only come with time, after all a person does not become a doctor, surgeon, pilot or even learn to drive a car by reading a manual.

You see, making a system your own takes time. In fact it requires at least 6months in order to tune yourself in with daily observations, demo trading, record keeping, analysing.. & then the loop starts all over again when you spot something that you don’t like or doesn’t work.

Most people are not that patient.

And that is where a lot of the challenge lies in trading.

It’s not the screen in front of you that is stopping your goals becoming reality, it’s the individual.

Master yourself & the rest is a walk in the park.

Until next week, have a great weekend & I’ll see you at the top!

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